Genius Sports (NYSE:GENI - Get Free Report)'s stock had its "buy" rating restated by Needham & Company LLC in a report released on Thursday,Benzinga reports. They currently have a $13.00 price target on the stock. Needham & Company LLC's target price points to a potential upside of 32.88% from the company's current price.
Several other brokerages also recently weighed in on GENI. Craig Hallum set a $15.00 target price on shares of Genius Sports in a research note on Tuesday, March 4th. Lake Street Capital boosted their target price on shares of Genius Sports from $10.50 to $11.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. BTIG Research boosted their target price on shares of Genius Sports from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, April 22nd. The Goldman Sachs Group lifted their price target on Genius Sports from $11.00 to $12.50 and gave the company a "buy" rating in a report on Wednesday, March 5th. Finally, B. Riley restated a "buy" rating on shares of Genius Sports in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Genius Sports presently has an average rating of "Moderate Buy" and a consensus target price of $12.19.
Check Out Our Latest Research Report on Genius Sports
Genius Sports Trading Down 6.6%
Shares of NYSE:GENI traded down $0.69 during midday trading on Thursday, hitting $9.78. 6,249,355 shares of the stock were exchanged, compared to its average volume of 3,095,904. The stock has a market cap of $2.11 billion, a P/E ratio of -30.57 and a beta of 1.87. Genius Sports has a twelve month low of $5.09 and a twelve month high of $11.40. The company has a 50 day moving average price of $10.04 and a 200-day moving average price of $9.53.
Genius Sports (NYSE:GENI - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. The business had revenue of $143.99 million during the quarter, compared to the consensus estimate of $143.31 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The business's revenue was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.11) EPS. On average, equities research analysts expect that Genius Sports will post -0.1 earnings per share for the current year.
Genius Sports declared that its board has approved a stock repurchase program on Tuesday, May 6th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.
Hedge Funds Weigh In On Genius Sports
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hodges Capital Management Inc. acquired a new position in Genius Sports during the 1st quarter worth approximately $2,152,000. 1060 Capital LLC acquired a new position in Genius Sports during the 1st quarter worth approximately $7,007,000. PharVision Advisers LLC acquired a new position in Genius Sports during the 1st quarter worth approximately $118,000. Nixon Capital LLC lifted its position in Genius Sports by 6.7% during the 1st quarter. Nixon Capital LLC now owns 1,038,629 shares of the company's stock worth $10,397,000 after acquiring an additional 64,767 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Genius Sports by 1,579.0% during the 1st quarter. Millennium Management LLC now owns 2,766,206 shares of the company's stock worth $27,690,000 after acquiring an additional 2,601,453 shares in the last quarter. 81.91% of the stock is owned by institutional investors and hedge funds.
Genius Sports Company Profile
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Get Free Report)
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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