Genius Sports Limited (NYSE:GENI) Stock Has Consensus Target Price of $11.25 According to Brokerages

Key Points

• Analysts remain broadly bullish: Genius Sports has a “Moderate Buy” consensus from 20 analysts, with an average 12-month price target of $11.25 versus a recent price of $5.75.
• Revenue growth outpaced expectations, but profitability disappointed: Quarterly revenue rose 64.7% year over year to $195.5 million, beating estimates, while EPS came in at a loss of $0.28 versus the expected $0.07 loss.
• Insiders have been selling shares: Executives sold 850,000 shares worth approximately $5.6 million over the past 90 days, although institutional investors own nearly 82% of the company.

Genius Sports Limited (NYSE:GENI - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twenty analysts that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $11.25.

Several equities analysts have issued reports on the stock. Benchmark restated a "buy" rating on shares of Genius Sports in a research note on Friday, August 28th. Needham & Company LLC boosted their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the company a "buy" rating in a report on Friday, August 7th. Roth Capital restated a "buy" rating and set a $12.00 price objective on shares of Genius Sports in a research report on Friday, August 7th. Oppenheimer raised their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Genius Sports in a research report on Tuesday, September 8th.

Genius Sports Stock Down 6.9%

Genius Sports stock opened at $5.75 on Thursday. Genius Sports has a 12 month low of $3.83 and a 12 month high of $12.69. The stock has a fifty day simple moving average of $7.17 and a two-hundred day simple moving average of $5.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.10. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -8.45 and a beta of 1.88.

Genius Sports (NYSE:GENI - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.21). Genius Sports had a negative net margin of 22.99% and a negative return on equity of 23.83%. The business had revenue of $195.50 million for the quarter, compared to the consensus estimate of $184.43 million. During the same period in the previous year, the company earned ($0.21) earnings per share. The company's revenue for the quarter was up 64.7% compared to the same quarter last year. Equities analysts predict that Genius Sports will post -0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Mark Locke sold 477,449 shares of Genius Sports stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $6.58, for a total value of $3,141,614.42. Following the completion of the sale, the chief executive officer owned 19,697,767 shares of the company's stock, valued at $129,611,306.86. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas Russell sold 50,000 shares of the company's stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $6.51, for a total value of $325,500.00. Following the sale, the insider owned 471,467 shares of the company's stock, valued at approximately $3,069,250.17. This trade represents a 9.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 850,000 shares of company stock worth $5,582,049. Company insiders own 16.60% of the company's stock.

Institutional Investors Weigh In On Genius Sports

Several hedge funds and other institutional investors have recently made changes to their positions in GENI. Wellington Management Group LLP increased its holdings in Genius Sports by 11.0% during the second quarter. Wellington Management Group LLP now owns 1,714,882 shares of the company's stock valued at $10,392,000 after buying an additional 169,398 shares during the last quarter. ABS Direct Equity Fund LLC bought a new stake in shares of Genius Sports during the 1st quarter valued at $1,772,000. Renaissance Technologies LLC grew its position in shares of Genius Sports by 277.0% during the 1st quarter. Renaissance Technologies LLC now owns 2,197,700 shares of the company's stock valued at $9,736,000 after acquiring an additional 1,614,700 shares during the period. IFC Advisors LLC increased its stake in shares of Genius Sports by 23.2% in the 1st quarter. IFC Advisors LLC now owns 3,583,833 shares of the company's stock worth $15,876,000 after purchasing an additional 676,034 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Genius Sports by 65.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,909,945 shares of the company's stock worth $17,321,000 after purchasing an additional 1,549,816 shares in the last quarter. Hedge funds and other institutional investors own 81.91% of the company's stock.

Genius Sports Company Profile

Genius Sports Limited NYSE: GENI is a sports technology and data company that provides official sports data, technology, and digital services to sports leagues, federations, teams, broadcasters, sportsbooks, and brands. Its platforms help clients collect, manage, distribute, and commercialize live sports information across digital channels.

The company's offerings include live scores and statistics, data feeds for sports betting, fan-engagement tools, video streaming and content services, and advertising and sponsorship technology.

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