Genius Sports Limited (NYSE:GENI) Receives Consensus Rating of "Buy" from Brokerages

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.

Genius Sports Limited (NYSE:GENI - Get Free Report) has been given a consensus recommendation of "Buy" by the eighteen research firms that are presently covering the firm, Marketbeat.com reports. One investment 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 issued a report on the stock in the last year is $14.00.

GENI has been the topic of several recent analyst reports. Needham & Company LLC lifted their price objective on shares of Genius Sports from $13.00 to $16.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Guggenheim set a $16.00 price objective on shares of Genius Sports and gave the company a "buy" rating in a research report on Thursday, August 7th. JMP Securities set a $13.00 price objective on shares of Genius Sports and gave the company a "market outperform" rating in a research report on Monday, June 30th. Arete Research upgraded shares of Genius Sports to a "strong-buy" rating in a research report on Wednesday, July 9th. Finally, Macquarie lifted their price objective on shares of Genius Sports from $14.00 to $15.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th.

Institutional Investors Weigh In On Genius Sports

Several large investors have recently bought and sold shares of GENI. Global Alpha Capital Management Ltd. bought a new stake in Genius Sports in the second quarter worth $43,552,000. Divisadero Street Capital Management LP increased its position in Genius Sports by 32,386.5% in the fourth quarter. Divisadero Street Capital Management LP now owns 3,551,751 shares of the company's stock worth $30,723,000 after purchasing an additional 3,540,818 shares during the last quarter. Invesco Ltd. increased its position in Genius Sports by 3,584.2% in the second quarter. Invesco Ltd. now owns 3,291,635 shares of the company's stock worth $34,233,000 after purchasing an additional 3,202,290 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Genius Sports in the fourth quarter worth $24,712,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Genius Sports in the first quarter worth $28,280,000. Institutional investors own 81.91% of the company's stock.

Genius Sports Price Performance

Shares of NYSE:GENI opened at $13.04 on Wednesday. Genius Sports has a 1-year low of $6.72 and a 1-year high of $13.25. The company has a market capitalization of $2.81 billion, a P/E ratio of -42.05 and a beta of 1.86. The firm's 50 day simple moving average is $11.17 and its two-hundred day simple moving average is $10.28.

Genius Sports (NYSE:GENI - Get Free Report) last issued its quarterly 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). The firm had revenue of $118.72 million for the quarter, compared to analysts' expectations of $118.28 million. Genius Sports had a negative net margin of 13.94% and a negative return on equity of 11.48%. Genius Sports's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.09) EPS. On average, sell-side analysts anticipate that Genius Sports will post -0.1 earnings per share for the current fiscal year.

Genius Sports announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 6th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is 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.

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