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

Shares of Genius Sports Limited (NYSE:GENI - Get Free Report) have been given an average recommendation of "Moderate Buy" by the thirteen research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $12.19.

GENI has been the subject of several research reports. BTIG Research raised their price objective on shares of Genius Sports from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. Craig Hallum set a $15.00 price objective on shares of Genius Sports in a research note on Tuesday, March 4th. Benchmark reaffirmed a "buy" rating and set a $12.00 target price on shares of Genius Sports in a research report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Genius Sports in a research report on Monday, April 21st. They set a "buy" rating and a $12.00 target price for the company. Finally, Lake Street Capital boosted their price target on shares of Genius Sports from $10.50 to $11.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th.

Hedge Funds Weigh In On Genius Sports

Several hedge funds have recently bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Genius Sports by 26.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,535 shares of the company's stock worth $204,000 after purchasing an additional 4,873 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Genius Sports during the fourth quarter valued at $11,292,000. D.A. Davidson & CO. raised its holdings in shares of Genius Sports by 2.7% in the fourth quarter. D.A. Davidson & CO. now owns 53,608 shares of the company's stock valued at $464,000 after acquiring an additional 1,396 shares in the last quarter. Canton Hathaway LLC lifted its stake in Genius Sports by 67.3% in the fourth quarter. Canton Hathaway LLC now owns 34,300 shares of the company's stock worth $297,000 after acquiring an additional 13,800 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its stake in Genius Sports by 39.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company's stock worth $105,000 after acquiring an additional 3,429 shares during the period. Institutional investors own 81.91% of the company's stock.

Genius Sports Trading Down 6.6%

Shares of NYSE GENI traded down $0.69 during mid-day trading on Friday, hitting $9.78. The company had a trading volume of 6,249,355 shares, compared to its average volume of 3,091,095. The firm has a 50-day simple moving average of $10.02 and a two-hundred day simple moving average of $9.53. Genius Sports has a one year low of $5.09 and a one year high of $11.40. The company has a market capitalization of $2.11 billion, a PE ratio of -30.57 and a beta of 1.87.

Genius Sports (NYSE:GENI - Get Free Report) last released 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. The company had revenue of $143.99 million for the quarter, compared to analyst estimates of $143.31 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. Genius Sports's revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.11) EPS. Sell-side analysts expect 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 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 buy up to 4.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is 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.