Deutsche Bank Aktiengesellschaft Begins Coverage on Genius Sports (NYSE:GENI)

Key Points

• Deutsche Bank initiated coverage on Genius Sports with a buy rating and a $10 price target, implying significant upside from the current share price.
• Analyst sentiment is mixed but mostly positive: the stock currently has a consensus rating of Moderate Buy and an average target price of $11.68, though some firms have recently cut targets and Weiss Ratings reiterated a sell rating.
• Genius Sports reported mixed quarterly results, missing EPS estimates with a loss of $0.21 per share but beating revenue expectations at $187.95 million, up 30.5% year over year.

Stock analysts at Deutsche Bank Aktiengesellschaft assumed coverage on shares of Genius Sports (NYSE:GENI - Get Free Report) in a note issued to investors on Monday. The brokerage set a "buy" rating and a $10.00 price target on the stock. Deutsche Bank Aktiengesellschaft's price objective indicates a potential upside of 134.08% from the company's current price.

A number of other research analysts have also recently weighed in on the stock. UBS Group restated a "buy" rating on shares of Genius Sports in a research note on Wednesday, March 4th. Guggenheim decreased their price target on Genius Sports from $17.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, February 6th. Roth Mkm set a $10.00 price objective on Genius Sports in a research note on Friday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Genius Sports in a research report on Friday, March 27th. Finally, BTIG Research lowered their price target on Genius Sports from $10.00 to $9.00 and set a "buy" rating on the stock in a report on Thursday. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $11.68.

Genius Sports Trading Down 2.9%

NYSE GENI traded down $0.13 on Monday, hitting $4.27. 190,367 shares of the company traded hands, compared to its average volume of 6,155,093. The business's 50 day moving average price is $4.83 and its 200-day moving average price is $8.00. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -7.02 and a beta of 1.80. Genius Sports has a 52-week low of $3.83 and a 52-week high of $13.73.

Genius Sports (NYSE:GENI - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.12). Genius Sports had a negative net margin of 22.26% and a negative return on equity of 20.34%. The company had revenue of $187.95 million for the quarter, compared to the consensus estimate of $170.60 million. During the same quarter last year, the firm posted ($0.03) earnings per share. The company's revenue was up 30.5% compared to the same quarter last year.

Hedge Funds Weigh In On Genius Sports

Several institutional investors have recently added to or reduced their stakes in the company. Amova Asset Management Americas Inc. boosted its position in shares of Genius Sports by 65.7% during the 1st quarter. Amova Asset Management Americas Inc. now owns 3,909,945 shares of the company's stock valued at $17,321,000 after acquiring an additional 1,549,816 shares during the last quarter. WCM Investment Management LLC lifted its position in Genius Sports by 510.9% during the first quarter. WCM Investment Management LLC now owns 2,917,437 shares of the company's stock valued at $12,370,000 after purchasing an additional 2,439,890 shares during the last quarter. Parallel Advisors LLC bought a new stake in shares of Genius Sports in the 1st quarter worth about $25,000. Crescent Grove Advisors LLC purchased a new stake in shares of Genius Sports during the 1st quarter valued at about $322,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Genius Sports by 10.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,557,178 shares of the company's stock valued at $16,150,000 after acquiring an additional 339,792 shares during the last quarter. Hedge funds and other institutional investors own 81.91% of the company's stock.

About Genius Sports

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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