Genius Sports (NYSE:GENI) Rating Lowered to Strong Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Genius Sports from “sell” to “strong sell,” contrasting with MarketBeat’s broader consensus “Moderate Buy” rating and $11.44 average price target.
• Genius Sports reported quarterly revenue of $195.5 million, up 64.7% year over year and above estimates, but its adjusted loss of $0.28 per share was significantly worse than the expected $0.07 loss.
• Shares opened at $7.60, while institutional investors own approximately 81.91% of the company; the stock remains well below its one-year high of $13.73.

Genius Sports (NYSE:GENI - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued to investors on Tuesday.

GENI has been the topic of a number of other research reports. B. Riley Financial reissued a "buy" rating on shares of Genius Sports in a report on Friday, May 8th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $8.00 price objective on shares of Genius Sports in a research report on Friday. Weiss Ratings upgraded shares of Genius Sports from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft began coverage on shares of Genius Sports in a research note on Monday, May 11th. They issued a "buy" rating and a $10.00 price target for the company. Finally, Truist Financial lowered their target price on Genius Sports from $13.00 to $10.00 and set a "buy" rating on the stock in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Genius Sports presently has an average rating of "Moderate Buy" and a consensus price target of $11.44.

Genius Sports Stock Up 0.1%

Genius Sports stock opened at $7.60 on Tuesday. The firm has a 50 day simple moving average of $6.60 and a 200 day simple moving average of $5.93. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.10. Genius Sports has a 1-year low of $3.83 and a 1-year high of $13.73. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -11.18 and a beta of 1.90.

Genius Sports (NYSE:GENI - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.21). The company 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%.The firm's revenue for the quarter was up 64.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.21) EPS. On average, analysts predict that Genius Sports will post -0.12 earnings per share for the current year.

Institutional Trading of Genius Sports

Institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC acquired a new stake in Genius Sports during the first quarter worth about $25,000. Baer Investment Advisory LLC purchased a new stake in Genius Sports in the 1st quarter valued at about $61,000. UMB Bank n.a. acquired a new position in Genius Sports in the fourth quarter valued at about $63,000. Lexington Hill Partners LLC purchased a new position in Genius Sports during the second quarter worth about $64,000. Finally, Pacer Advisors Inc. boosted its stake in Genius Sports by 29.1% during the first quarter. Pacer Advisors Inc. now owns 15,270 shares of the company's stock worth $68,000 after buying an additional 3,440 shares during the period. Institutional investors and hedge funds own 81.91% of the company's stock.

Genius Sports Company Profile

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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