Freedom Capital Upgrades Genius Sports (NYSE:GENI) to Strong-Buy

Key Points

• Freedom Capital upgraded Genius Sports to a strong-buy rating, adding to a generally positive Wall Street view of the stock.
• Analyst sentiment remains mostly constructive: Genius Sports has three Strong Buy, 14 Buy, two Hold, and one Sell ratings, with a consensus price target of $11.44.
• The stock rose 7.9% as investors also weighed the company’s latest results, which showed 30.5% revenue growth year over year but a larger-than-expected quarterly loss.

Genius Sports (NYSE:GENI - Get Free Report) was upgraded by Freedom Capital to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on GENI. Truist Financial decreased their price target on Genius Sports from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Genius Sports in a research note on Monday, May 11th. They set a "buy" rating and a $10.00 price objective for the company. Wall Street Zen raised shares of Genius Sports from a "strong sell" rating to a "sell" rating in a report on Saturday. Citigroup lowered their price target on Genius Sports from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Finally, Needham & Company LLC lowered their price target on Genius Sports from $14.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Genius Sports presently has an average rating of "Moderate Buy" and a consensus target price of $11.44.

Genius Sports Stock Up 7.9%

GENI opened at $6.79 on Monday. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -11.14 and a beta of 1.91. The firm has a 50-day moving average price of $5.96 and a 200-day moving average price of $6.27. Genius Sports has a twelve month low of $3.83 and a twelve month high of $13.73.

Genius Sports (NYSE:GENI - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) 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 business had revenue of $187.95 million for the quarter, compared to analysts' expectations of $170.60 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The business's quarterly revenue was up 30.5% compared to the same quarter last year. On average, sell-side analysts expect that Genius Sports will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

Several institutional investors and hedge funds have recently bought and sold shares of GENI. Lexington Hill Partners LLC purchased a new stake in Genius Sports in the second quarter worth $64,000. Moody National Bank Trust Division increased its position in shares of Genius Sports by 32.9% during the second quarter. Moody National Bank Trust Division now owns 589,959 shares of the company's stock valued at $3,575,000 after buying an additional 146,044 shares during the period. Pacer Advisors Inc. lifted its holdings in Genius Sports by 29.1% in the first quarter. Pacer Advisors Inc. now owns 15,270 shares of the company's stock worth $68,000 after buying an additional 3,440 shares during the period. Parallel Advisors LLC purchased a new position in shares of Genius Sports during the 1st quarter worth approximately $25,000. Finally, Ritter Alpha LP purchased a new position in Genius Sports during the first quarter valued at $77,000. Hedge funds and other 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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