Genius Sports Limited (NYSE:GENI) Receives $12.72 Consensus Target Price from Brokerages

Key Points

• Analysts have assigned Genius Sports Limited (NYSE:GENI) an average recommendation of "Buy", with 15 out of 18 brokerages giving a buy rating and an average price target of $12.72.
• For the last quarter, Genius Sports reported earnings of ($0.03) EPS, surpassing estimates, and a year-over-year revenue increase of 20.3%.
• The company has authorized a $100 million share buyback, indicating confidence in the stock's value and desire to enhance shareholder returns.

Genius Sports Limited (NYSE:GENI - Get Free Report) has received a consensus rating of "Buy" from the eighteen analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $12.7188.

GENI has been the subject of a number of research analyst reports. BTIG Research raised their price target on Genius Sports from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. Arete Research upgraded Genius Sports to a "strong-buy" rating in a research note on Wednesday, July 9th. Arete began coverage on Genius Sports in a report on Wednesday, July 9th. They issued a "buy" rating and a $15.00 price target for the company. Benchmark restated a "buy" rating and issued a $12.00 price objective on shares of Genius Sports in a research report on Thursday, April 17th. Finally, Needham & Company LLC reissued a "buy" rating and set a $13.00 price objective on shares of Genius Sports in a research note on Thursday, June 12th.

Genius Sports Price Performance

NYSE GENI traded up $0.37 during trading on Friday, hitting $12.05. 10,749,305 shares of the company's stock traded hands, compared to its average volume of 4,991,163. Genius Sports has a 12-month low of $5.76 and a 12-month high of $12.45. The business has a 50 day moving average of $10.19 and a 200-day moving average of $9.86.

Genius Sports (NYSE:GENI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. Genius Sports had a negative net margin of 8.54% and a negative return on equity of 6.90%. The company had revenue of $143.99 million for the quarter, compared to analysts' expectations of $143.31 million. During the same period in the prior year, the business earned ($0.11) earnings per share. Genius Sports's revenue for the quarter was up 20.3% compared to the same quarter last year. 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 authorized a share buyback plan on Tuesday, May 6th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Genius Sports in the first quarter valued at approximately $37,000. Pacer Advisors Inc. boosted its position in shares of Genius Sports by 61.5% during the first quarter. Pacer Advisors Inc. now owns 3,754 shares of the company's stock worth $38,000 after buying an additional 1,430 shares during the period. CWM LLC boosted its position in shares of Genius Sports by 275.5% during the second quarter. CWM LLC now owns 3,980 shares of the company's stock worth $41,000 after buying an additional 2,920 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new stake in Genius Sports in the fourth quarter worth approximately $58,000. Finally, FNY Investment Advisers LLC acquired a new stake in Genius Sports in the second quarter worth approximately $75,000. 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.