Genius Sports’ (GENI) Buy Rating Reaffirmed at Needham & Company LLC

Genius Sports (NYSE:GENI)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They currently have a $9.00 price objective on the stock. Needham & Company LLC’s price objective indicates a potential downside of 6.15% from the stock’s previous close.

GENI has been the topic of several other reports. Macquarie reduced their price objective on shares of Genius Sports from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, July 18th. Benchmark restated a “buy” rating and issued a $10.00 price objective on shares of Genius Sports in a report on Friday, October 11th. B. Riley lifted their target price on shares of Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group upped their price target on Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Genius Sports presently has an average rating of “Buy” and a consensus target price of $10.25.

Genius Sports Trading Up 1.3 %

Shares of GENI stock opened at $9.59 on Tuesday. Genius Sports has a twelve month low of $4.90 and a twelve month high of $10.15. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -29.97 and a beta of 1.98. The company’s 50-day moving average price is $7.58 and its 200-day moving average price is $6.54.

Genius Sports (NYSE:GENI) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. The firm had revenue of $120.20 million for 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 14.09%. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.06) EPS. As a group, equities research analysts predict that Genius Sports will post -0.2 EPS for the current year.

Institutional Trading of Genius Sports

A number of large investors have recently made changes to their positions in the company. Koss Olinger Consulting LLC acquired a new position in Genius Sports during the 2nd quarter worth approximately $64,000. Vanguard Personalized Indexing Management LLC purchased a new position in Genius Sports in the second quarter valued at $67,000. Sound Income Strategies LLC acquired a new stake in Genius Sports in the third quarter valued at $78,000. Arkadios Wealth Advisors purchased a new stake in Genius Sports during the 3rd quarter worth about $79,000. Finally, Virtu Financial LLC acquired a new position in shares of Genius Sports during the 1st quarter worth about $94,000. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

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.