Genius Sports Limited (NYSE:GENI) Given Consensus Recommendation of "Buy" by Analysts

Key Points

• Genius Sports Limited (NYSE:GENI) has received a consensus rating of "Buy" from twenty brokerages, with an average 1-year target price of $14.22.
• Hedge funds hold 81.91% of Genius Sports, with several firms recently increasing their positions or making new investments in the company.
• The latest earnings report showed a 24.4% revenue increase year-over-year, though the company missed EPS estimates with a reported loss of ($0.21).

Shares of Genius Sports Limited (NYSE:GENI - Get Free Report) have been given a consensus recommendation of "Buy" by the twenty ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $14.2222.

GENI has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price objective on Genius Sports from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Roth Capital assumed coverage on shares of Genius Sports in a research report on Friday, September 12th. They set a "buy" rating and a $16.00 target price on the stock. Needham & Company LLC lifted their target price on shares of Genius Sports from $13.00 to $16.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Macquarie boosted their price target on Genius Sports from $14.00 to $15.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Guggenheim set a $16.00 price objective on shares of Genius Sports and gave the company a "buy" rating in a research note on Thursday, August 7th.

Genius Sports Stock Performance

Shares of GENI traded up $0.55 during mid-day trading on Friday, reaching $13.40. The company had a trading volume of 3,333,341 shares, compared to its average volume of 4,340,255. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of -43.24 and a beta of 1.87. Genius Sports has a 52 week low of $6.72 and a 52 week high of $13.73. The firm has a 50-day moving average price of $12.17 and a 200 day moving average price of $10.75.

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

Hedge Funds Weigh In On Genius Sports

Several large investors have recently added to or reduced their stakes in GENI. Osaic Holdings Inc. boosted its stake in Genius Sports by 72.6% in the 2nd quarter. Osaic Holdings Inc. now owns 10,645 shares of the company's stock worth $111,000 after purchasing an additional 4,477 shares during the period. Orion Porfolio Solutions LLC bought a new stake in shares of Genius Sports in the 2nd quarter worth $112,000. Nomura Holdings Inc. purchased a new position in Genius Sports in the second quarter valued at about $5,200,000. Castleark Management LLC lifted its stake in Genius Sports by 5.7% in the 2nd quarter. Castleark Management LLC now owns 677,620 shares of the company's stock worth $7,047,000 after purchasing an additional 36,420 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Genius Sports by 6,252.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 28,586 shares of the company's stock valued at $297,000 after buying an additional 28,136 shares in the last quarter. Institutional investors and hedge funds own 81.91% of the company's stock.

About Genius Sports

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.