Genius Sports (NYSE:GENI) Given New $16.00 Price Target at Benchmark

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 - Free Report) had its target price increased by Benchmark from $15.00 to $16.00 in a research note published on Wednesday morning, Marketbeat Ratings reports. Benchmark currently has a buy rating on the stock.

Several other research firms also recently commented on GENI. Northland Securities started coverage on shares of Genius Sports in a report on Friday, July 25th. They issued an "outperform" rating and a $14.00 target price on the stock. Arete Research upgraded shares of Genius Sports to a "strong-buy" rating in a research report on Wednesday, July 9th. Arete started coverage on shares of Genius Sports in a research note on Wednesday, July 9th. They issued a "buy" rating and a $15.00 price objective for the company. Wall Street Zen cut Genius Sports from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Guggenheim set a $16.00 price target on Genius Sports and gave the stock a "buy" rating in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $14.22.

Genius Sports Trading Down 0.0%

GENI traded down $0.01 during trading on Wednesday, reaching $12.48. The stock had a trading volume of 1,182,930 shares, compared to its average volume of 4,330,959. The stock's 50 day moving average is $11.91 and its two-hundred day moving average is $10.62. Genius Sports has a one year low of $6.72 and a one year high of $13.73. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of -40.24 and a beta of 1.87.

Genius Sports (NYSE:GENI - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.17). Genius Sports had a negative net margin of 13.94% and a negative return on equity of 11.48%. The company had revenue of $118.72 million for the quarter, compared to analysts' expectations of $118.28 million. During the same period in the previous year, the firm earned ($0.09) earnings per share. The firm's revenue for the quarter was up 24.4% on a year-over-year basis. On average, equities research analysts predict that Genius Sports will post -0.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Quarry LP bought a new position in shares of Genius Sports during the first quarter valued at approximately $37,000. Pacer Advisors Inc. lifted its stake in shares of Genius Sports by 61.5% during the 1st quarter. Pacer Advisors Inc. now owns 3,754 shares of the company's stock worth $38,000 after purchasing an additional 1,430 shares during the last quarter. CWM LLC lifted its position in shares of Genius Sports by 275.5% during the second quarter. CWM LLC now owns 3,980 shares of the company's stock valued at $41,000 after buying an additional 2,920 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in Genius Sports in the second quarter valued at approximately $75,000. Finally, Amalgamated Bank purchased a new stake in shares of Genius Sports during the second quarter worth about $79,000. 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.