Genius Sports (NYSE:GENI) Price Target Raised to $12.00

Genius Sports (NYSE:GENI) had its price target upped by Macquarie from $10.00 to $12.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also recently commented on the company. The Goldman Sachs Group upped their price target on Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a research report on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and set a $10.00 price objective on shares of Genius Sports in a report on Friday, October 11th. Oppenheimer increased their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Genius Sports in a report on Tuesday, November 12th. Finally, B. Riley lifted their price objective on shares of Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, Genius Sports presently has a consensus rating of “Buy” and an average target price of $10.39.

Genius Sports Stock Performance

NYSE GENI opened at $9.11 on Wednesday. The company has a market capitalization of $2.09 billion, a PE ratio of -28.47 and a beta of 1.98. Genius Sports has a 52-week low of $4.91 and a 52-week high of $10.15. The company has a 50-day simple moving average of $7.66 and a 200 day simple moving average of $6.60.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. The company had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.94 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. Genius Sports’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) EPS. As a group, analysts forecast that Genius Sports will post -0.2 EPS for the current fiscal year.

Institutional Trading of Genius Sports

A number of hedge funds and other institutional investors have recently bought and sold shares of GENI. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Genius Sports by 42.4% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,953 shares of the company’s stock valued at $98,000 after purchasing an additional 5,342 shares in the last quarter. Levin Capital Strategies L.P. boosted its stake in Genius Sports by 40.0% during the first quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company’s stock valued at $200,000 after buying an additional 10,000 shares during the period. Sound Income Strategies LLC purchased a new position in Genius Sports during the third quarter worth about $78,000. Arkadios Wealth Advisors bought a new position in Genius Sports in the 3rd quarter worth about $79,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Genius Sports in the 3rd quarter valued at about $84,000. Institutional investors own 81.91% of the company’s stock.

About Genius Sports

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.