Genius Sports (NYSE:GENI) Price Target Lowered to $9.00 at BTIG Research

Key Points

• BTIG lowered its price target to $9.00 (from $10.00) but maintained a "buy" rating, with the new target implying roughly an 88.9% upside from the prior close.
• Q1 showed a revenue beat but an EPS miss: revenue was $187.95M (vs. $170.6M est., +30.5% YoY) while EPS of ($0.21) missed the ($0.09) consensus and the company remains unprofitable.
• Analysts are mixed but generally positive—MarketBeat reports a consensus "Moderate Buy" with an average price target of $12.17—yet GENI trades near $4.77 (50‑day SMA $4.83, 200‑day SMA $8.00) and has a $1.17B market cap with institutional ownership at ~81.9%.

Genius Sports (NYSE:GENI - Get Free Report) had its price objective lowered by equities researchers at BTIG Research from $10.00 to $9.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's target price indicates a potential upside of 88.88% from the company's previous close.

GENI has been the topic of several other reports. Wells Fargo & Company reduced their target price on Genius Sports from $10.00 to $9.00 and set an "overweight" rating on the stock in a research report on Thursday, March 5th. Oppenheimer dropped their price objective on shares of Genius Sports from $12.00 to $11.00 and set an "outperform" rating on the stock in a report on Thursday, March 5th. Wall Street Zen lowered shares of Genius Sports from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. Northland Securities set a $12.00 price objective on shares of Genius Sports in a report on Friday, February 6th. Finally, Citigroup dropped their price objective on shares of Genius Sports from $11.00 to $9.00 and set a "buy" rating on the stock in a report on Thursday, April 2nd. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $12.17.

Genius Sports Trading Up 8.3%

NYSE GENI opened at $4.77 on Thursday. The firm's fifty day simple moving average is $4.83 and its two-hundred day simple moving average is $8.00. Genius Sports has a 12-month low of $3.83 and a 12-month high of $13.73. The firm has a market capitalization of $1.17 billion, a P/E ratio of -11.08 and a beta of 1.80.

Genius Sports (NYSE:GENI - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.12). Genius Sports had a negative net margin of 16.67% and a negative return on equity of 13.66%. The business had revenue of $187.95 million for the quarter, compared to analyst estimates of $170.60 million. During the same period in the prior year, the company earned ($0.03) earnings per share. The company's quarterly revenue was up 30.5% on a year-over-year basis.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Amova Asset Management Americas Inc. grew its position in shares of Genius Sports by 65.7% in the first quarter. Amova Asset Management Americas Inc. now owns 3,909,945 shares of the company's stock valued at $17,321,000 after purchasing an additional 1,549,816 shares during the period. WCM Investment Management LLC grew its position in shares of Genius Sports by 510.9% in the first quarter. WCM Investment Management LLC now owns 2,917,437 shares of the company's stock valued at $12,370,000 after purchasing an additional 2,439,890 shares during the period. Parallel Advisors LLC acquired a new stake in shares of Genius Sports in the first quarter valued at about $25,000. Crescent Grove Advisors LLC purchased a new position in shares of Genius Sports in the first quarter worth about $322,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Genius Sports by 10.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,557,178 shares of the company's stock worth $16,150,000 after buying an additional 339,792 shares in the last quarter. Institutional investors and hedge funds 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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