The Goldman Sachs Group Forecasts Strong Price Appreciation for Genius Sports (NYSE:GENI) Stock

Genius Sports (NYSE:GENI) had its price objective hoisted by equities researchers at The Goldman Sachs Group from $8.50 to $11.50 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 26.23% from the stock’s previous close.

Several other research analysts have also weighed in on GENI. Macquarie boosted their price target on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday. B. Riley lifted their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price target on shares of Genius Sports in a report on Tuesday. Oppenheimer lifted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Benchmark raised their target price on Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $10.39.

Genius Sports Price Performance

NYSE GENI opened at $9.11 on Thursday. The stock’s 50-day moving average is $7.66 and its 200-day moving average is $6.58. Genius Sports has a one year low of $4.91 and a one year high of $10.15. The firm has a market cap of $2.09 billion, a P/E ratio of -28.47 and a beta of 1.98.

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

Hedge Funds Weigh In On Genius Sports

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Koss Olinger Consulting LLC purchased a new stake in Genius Sports during the second quarter valued at about $64,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Genius Sports in the 2nd quarter worth about $67,000. Sound Income Strategies LLC purchased a new position in shares of Genius Sports in the 3rd quarter worth about $78,000. Arkadios Wealth Advisors purchased a new position in shares of Genius Sports during the 3rd quarter valued at about $79,000. Finally, Captrust Financial Advisors bought a new stake in Genius Sports in the 3rd quarter worth approximately $84,000. 81.91% of the stock is 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.