Benchmark Boosts Genius Sports (NYSE:GENI) Price Target to $16.00

Key Points

• Benchmark has raised its price target for Genius Sports (NYSE:GENI) from $15.00 to $16.00, indicating a potential upside of 25.20% from the current stock price.
• Despite Benchmark's optimistic rating, Wall Street Zen downgraded the stock from "hold" to "sell," reflecting mixed sentiment among analysts.
• Genius Sports reported a disappointing quarterly EPS of ($0.21), missing expectations but showed a 24.4% increase in revenue compared to the previous year.

Genius Sports (NYSE:GENI - Get Free Report) had its target price increased by stock analysts at Benchmark from $15.00 to $16.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Benchmark's price target points to a potential upside of 25.20% from the company's current price.

Several other brokerages also recently issued reports on GENI. Wall Street Zen downgraded shares of Genius Sports from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Arete Research raised shares of Genius Sports to a "strong-buy" rating in a research note on Wednesday, July 9th. Needham & Company LLC upped their price objective on shares of Genius Sports from $13.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Macquarie upped their price objective on shares of Genius Sports from $14.00 to $15.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, JMP Securities upped their price objective on shares of Genius Sports from $13.00 to $15.00 and gave the company a "market outperform" rating in a research note on Wednesday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $14.19.

Genius Sports Price Performance

GENI stock opened at $12.78 on Wednesday. The company's 50 day simple moving average is $11.75 and its 200-day simple moving average is $10.52. The firm has a market capitalization of $2.75 billion, a PE ratio of -41.23 and a beta of 1.87. Genius Sports has a 12 month low of $6.72 and a 12 month high of $13.73.

Genius Sports (NYSE:GENI - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.17). The business had revenue of $118.72 million during the quarter, compared to analyst estimates of $118.28 million. Genius Sports had a negative net margin of 13.94% and a negative return on equity of 11.48%. The firm's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) earnings per share. As a group, sell-side analysts anticipate that Genius Sports will post -0.1 earnings per share for the current year.

Hedge Funds Weigh In On Genius Sports

A number of large investors have recently bought and sold shares of the stock. Osaic Holdings Inc. raised its stake in Genius Sports by 72.6% during the second quarter. Osaic Holdings Inc. now owns 10,645 shares of the company's stock worth $111,000 after purchasing an additional 4,477 shares during the period. Orion Porfolio Solutions LLC acquired a new stake in shares of Genius Sports in the second quarter worth $112,000. Nomura Holdings Inc. acquired a new stake in shares of Genius Sports in the second quarter worth $5,200,000. Castleark Management LLC increased its position in shares of Genius Sports by 5.7% in the second quarter. Castleark Management LLC now owns 677,620 shares of the company's stock worth $7,047,000 after acquiring an additional 36,420 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Genius Sports by 6,252.4% in the second quarter. Tower Research Capital LLC TRC now owns 28,586 shares of the company's stock worth $297,000 after acquiring an additional 28,136 shares in the last quarter. Hedge funds and other 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.

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