Genius Sports (NYSE:GENI) Downgraded by Zacks Research to "Strong Sell"

Key Points

• Zacks Research downgraded Genius Sports to “Strong Sell” from “Hold,” although the broader analyst consensus remains “Moderate Buy” with a $11.44 price target.
• GENI shares opened at $7.74 and were trading above their 50-day and 200-day moving averages, but remain well below the 12-month high of $13.73.
• The company’s latest quarterly loss of $0.28 per share significantly missed estimates of a $0.07 loss, despite revenue rising 64.7% year over year to $195.5 million.

Genius Sports (NYSE:GENI - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Monday,Zacks.com reports.

Several other research analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on Genius Sports in a research report on Monday, May 11th. They set a "buy" rating and a $10.00 target price for the company. B. Riley Financial reissued a "buy" rating on shares of Genius Sports in a research note on Friday, May 8th. Oppenheimer boosted their price objective on Genius Sports from $10.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, August 7th. Wall Street Zen downgraded Genius Sports from a "sell" rating to a "strong sell" rating in a research report on Tuesday. Finally, Truist Financial reduced their target price on Genius Sports from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.44.

Genius Sports Trading Up 2.4%

GENI stock opened at $7.74 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.10. Genius Sports has a twelve month low of $3.83 and a twelve month high of $13.73. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -11.38 and a beta of 1.90. The firm's fifty day simple moving average is $6.63 and its two-hundred day simple moving average is $5.92.

Genius Sports (NYSE:GENI - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.21). The firm had revenue of $195.50 million during the quarter, compared to the consensus estimate of $184.43 million. Genius Sports had a negative return on equity of 23.83% and a negative net margin of 22.99%.Genius Sports's revenue was up 64.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.21) EPS. As a group, analysts anticipate that Genius Sports will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GENI. Parallel Advisors LLC bought a new stake in Genius Sports during the 1st quarter valued at $25,000. UMB Bank n.a. purchased a new stake in shares of Genius Sports in the 4th quarter worth $63,000. Lexington Hill Partners LLC bought a new position in shares of Genius Sports during the 2nd quarter worth $64,000. Osaic Holdings Inc. grew its position in shares of Genius Sports by 72.6% during the 2nd quarter. Osaic Holdings Inc. now owns 10,645 shares of the company's stock worth $111,000 after buying an additional 4,477 shares in the last quarter. Finally, Orion Porfolio Solutions LLC purchased a new position in shares of Genius Sports during the second quarter valued at $112,000. Institutional investors own 81.91% of the company's stock.

About Genius Sports

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.

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