Guggenheim Reiterates "$16.00" Price Target for Genius Sports (NYSE:GENI)

Key Points

• Guggenheim analysts have increased their price target for Genius Sports from $12.00 to $16.00, suggesting a potential upside of 33.05% from the current price.
• The company's stock recently experienced a 3.1% increase in trading, closing at $12.03 on Thursday, with a year-to-date high of $12.45.
• Genius Sports reported a 24.4% year-over-year increase in revenue, although it missed consensus earnings estimates for the quarter.

Genius Sports (NYSE:GENI - Get Free Report) has been assigned a $16.00 target price by investment analysts at Guggenheim in a report issued on Thursday, MarketBeat reports. The brokerage presently has a "buy" rating on the stock. Guggenheim's price target would indicate a potential upside of 28.46% from the company's current price.

GENI has been the subject of several other reports. Benchmark raised their target price on Genius Sports from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Thursday. Citigroup restated an "outperform" rating on shares of Genius Sports in a research note on Monday, June 30th. Arete started coverage on Genius Sports in a research report on Wednesday, July 9th. They set a "buy" rating and a $15.00 price target for the company. Northland Securities started coverage on Genius Sports in a research report on Friday, July 25th. They set an "outperform" rating and a $14.00 price target for the company. Finally, Arete Research upgraded Genius Sports to a "strong-buy" rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Genius Sports presently has a consensus rating of "Moderate Buy" and an average target price of $13.69.

Genius Sports Trading Up 0.5%

GENI stock traded up $0.07 during trading on Thursday, hitting $12.46. The company had a trading volume of 3,185,489 shares, compared to its average volume of 4,254,401. The business has a 50-day moving average of $10.41 and a 200-day moving average of $9.97. Genius Sports has a one year low of $6.37 and a one year high of $12.75. The stock has a market cap of $2.68 billion, a PE ratio of -40.01 and a beta of 1.86.

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

Genius Sports announced that its board has authorized a stock buyback plan on Tuesday, May 6th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 4.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On Genius Sports

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in shares of Genius Sports in the first quarter worth $37,000. Pacer Advisors Inc. raised its stake in shares of Genius Sports by 61.5% in the first quarter. Pacer Advisors Inc. now owns 3,754 shares of the company's stock worth $38,000 after purchasing an additional 1,430 shares during the last quarter. CWM LLC raised its stake in shares of Genius Sports by 275.5% in the second quarter. CWM LLC now owns 3,980 shares of the company's stock worth $41,000 after purchasing an additional 2,920 shares during the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Genius Sports in the fourth quarter worth $58,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of Genius Sports in the second quarter worth $75,000. 81.91% of the stock is owned by institutional investors.

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.