Brokerages Set Genius Sports Limited (NYSE:GENI) PT at $14.00

Key Points

• Genius Sports Limited has received a consensus rating of "Buy" from eighteen research firms, with analysts setting an average 1-year price target of $14.00.
• Recent quarterly earnings revealed a 24.4% revenue increase year-over-year, though the company reported a loss of ($0.21) earnings per share, missing expectations.
• Institutional investors own 81.91% of Genius Sports, with significant newly reported stakes from firms such as Global Alpha Capital Management and Invesco Ltd.

Shares of Genius Sports Limited (NYSE:GENI - Get Free Report) have been given a consensus rating of "Buy" by the eighteen analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, fifteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $14.00.

Several analysts have recently issued reports on the company. Northland Capmk upgraded Genius Sports to a "strong-buy" rating in a research note on Friday, July 25th. Wall Street Zen downgraded Genius Sports from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Guggenheim set a $16.00 price objective on Genius Sports and gave the company a "buy" rating in a research note on Thursday, August 7th. Truist Financial started coverage on Genius Sports in a research note on Tuesday, July 1st. They issued a "buy" rating and a $14.00 price objective on the stock. Finally, Citigroup reissued a "buy" rating and issued a $16.00 price objective (up from $12.00) on shares of Genius Sports in a research note on Tuesday, August 12th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its stake in Genius Sports by 62.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,161,843 shares of the company's stock worth $21,683,000 after buying an additional 833,335 shares during the last quarter. D.A. Davidson & CO. lifted its position in shares of Genius Sports by 67.0% during the first quarter. D.A. Davidson & CO. now owns 89,551 shares of the company's stock worth $896,000 after purchasing an additional 35,943 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Genius Sports by 194.9% during the first quarter. Envestnet Asset Management Inc. now owns 48,904 shares of the company's stock worth $490,000 after purchasing an additional 32,322 shares in the last quarter. Greenwood Capital Associates LLC acquired a new position in shares of Genius Sports during the first quarter worth approximately $518,000. Finally, IFC Advisors LLC lifted its position in shares of Genius Sports by 6.8% during the first quarter. IFC Advisors LLC now owns 2,735,155 shares of the company's stock worth $27,379,000 after purchasing an additional 173,171 shares in the last quarter. Institutional investors own 81.91% of the company's stock.

Genius Sports Trading Down 0.5%

GENI stock traded down $0.07 during mid-day trading on Wednesday, reaching $12.77. 2,174,926 shares of the stock traded hands, compared to its average volume of 5,755,804. Genius Sports has a 52-week low of $6.72 and a 52-week high of $13.24. The company has a market cap of $2.75 billion, a P/E ratio of -41.18 and a beta of 1.87. The stock's fifty day moving average is $11.41 and its 200-day moving average is $10.38.

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

Genius Sports announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 6th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 4.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

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.