Genius Sports Limited (NYSE:GENI) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Genius Sports Limited's stock has received a consensus rating of "Buy" from eighteen brokerages, with an average price target of $14.00.
• The company's latest quarterly earnings showed a 24.4% revenue increase year-over-year but missed the earnings per share consensus estimate.
• Genius Sports' Board of Directors has approved a $100 million share buyback program, indicating confidence in the company's value.

Genius Sports Limited (NYSE:GENI - Get Free Report) has been given a consensus rating of "Buy" by the eighteen brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, fifteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $14.00.

A number of analysts recently commented on GENI shares. Northland Securities started coverage on Genius Sports in a research report on Friday, July 25th. They set an "outperform" rating and a $14.00 price objective for the company. JMP Securities set a $13.00 price objective on Genius Sports and gave the company a "market outperform" rating in a research note on Monday, June 30th. Arete started coverage on Genius Sports in a research note on Wednesday, July 9th. They issued a "buy" rating and a $15.00 price objective on the stock. Truist Financial assumed coverage on Genius Sports in a research report on Tuesday, July 1st. They set a "buy" rating and a $14.00 price target on the stock. Finally, Northland Capmk upgraded Genius Sports to a "strong-buy" rating in a report on Friday, July 25th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of Genius Sports during the first quarter valued at $37,000. Pacer Advisors Inc. boosted its holdings in Genius Sports by 61.5% in the first quarter. Pacer Advisors Inc. now owns 3,754 shares of the company's stock worth $38,000 after purchasing an additional 1,430 shares in the last quarter. CWM LLC boosted its holdings in Genius Sports by 275.5% in the second quarter. CWM LLC now owns 3,980 shares of the company's stock worth $41,000 after purchasing an additional 2,920 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Genius Sports during the fourth quarter valued at about $58,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Genius Sports during the second quarter valued at about $75,000. Institutional investors own 81.91% of the company's stock.

Genius Sports Trading Up 0.8%

Shares of NYSE GENI opened at $13.04 on Wednesday. Genius Sports has a twelve month low of $6.72 and a twelve month high of $13.25. The stock has a 50 day moving average of $11.17 and a two-hundred day moving average of $10.28. The stock has a market cap of $2.81 billion, a P/E ratio of -42.05 and a beta of 1.86.

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

Genius Sports declared that its Board of Directors has approved a share buyback program on Tuesday, May 6th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 4.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Genius Sports Company Profile

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.

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