BTIG Research Boosts Genius Sports (NYSE:GENI) Price Target to $10.00

Key Points

• BTIG Research raised Genius Sports’ price target from $9.00 to $10.00 and maintained a “buy” rating, implying 26.41% upside from the reported $7.91 share price.
• Analyst sentiment is broadly positive: MarketBeat reports an overall “Moderate Buy” rating and an average price target of $11.19, based on three Strong Buy, thirteen Buy, two Hold and one Sell ratings.
• Genius Sports reported quarterly revenue of $195.5 million, up 64.7% year over year and above estimates, but its adjusted EPS loss of $0.28 was wider than the expected $0.06 loss; shares fell 5.0% in the session.

Genius Sports (NYSE:GENI - Get Free Report) had its price objective boosted by BTIG Research from $9.00 to $10.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's target price indicates a potential upside of 26.41% from the company's current price.

GENI has been the topic of a number of other research reports. Weiss Ratings raised Genius Sports from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday. B. Riley Financial reaffirmed a "buy" rating on shares of Genius Sports in a research report on Friday, May 8th. Roth Capital set a $10.00 target price on shares of Genius Sports in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Genius Sports in a report on Monday, May 11th. They set a "buy" rating and a $10.00 price objective on the stock. Finally, Stifel Nicolaus increased their target price on shares of Genius Sports from $5.00 to $7.00 and gave the company a "hold" rating in a report on Wednesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $11.19.

Genius Sports Stock Down 5.0%

Shares of GENI stock traded down $0.42 on Thursday, hitting $7.91. The company had a trading volume of 10,182,202 shares, compared to its average volume of 6,438,409. Genius Sports has a twelve month low of $3.83 and a twelve month high of $13.73. The firm has a market cap of $1.95 billion, a P/E ratio of -12.97 and a beta of 1.90. The company has a 50-day moving average price of $6.49 and a 200-day moving average price of $5.97.

Genius Sports (NYSE:GENI - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.22). Genius Sports had a negative net margin of 22.26% and a negative return on equity of 20.34%. The business had revenue of $195.50 million during the quarter, compared to analysts' expectations of $184.43 million. During the same quarter last year, the firm earned ($0.21) earnings per share. The firm's quarterly revenue was up 64.7% compared to the same quarter last year. Equities research analysts expect that Genius Sports will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Genius Sports

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC acquired a new position in Genius Sports in the first quarter worth approximately $25,000. UMB Bank n.a. acquired a new stake in shares of Genius Sports during the 4th quarter valued at $63,000. Lexington Hill Partners LLC bought a new stake in shares of Genius Sports during the 2nd quarter worth $64,000. Osaic Holdings Inc. boosted its stake in shares of Genius Sports by 72.6% during the 2nd quarter. Osaic Holdings Inc. now owns 10,645 shares of the company's stock worth $111,000 after acquiring an additional 4,477 shares in the last quarter. Finally, Orion Porfolio Solutions LLC acquired a new position in shares of Genius Sports in the 2nd quarter worth $112,000. Institutional investors own 81.91% of the company's stock.

Genius Sports Company Profile

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.

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