Genius Sports (NYSE:GENI) Reaches New 1-Year High - Still a Buy?

Key Points

• Genius Sports' stock reached a new 52-week high at $12.45, with a last trading price of $11.65 on high trading volume.
• Analysts overwhelmingly recommend the stock, with fifteen buy ratings and a consensus price target of $12.72 according to MarketBeat.
• The company's recent quarterly earnings report showed a revenue increase of 24.4% year-over-year, despite missing EPS expectations.

Genius Sports Limited (NYSE:GENI - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $12.45 and last traded at $11.65, with a volume of 13134176 shares changing hands. The stock had previously closed at $12.22.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GENI shares. Needham & Company LLC reissued a "buy" rating and issued a $13.00 price objective on shares of Genius Sports in a research report on Thursday, June 12th. Benchmark reissued a "buy" rating and issued a $12.00 price objective on shares of Genius Sports in a research report on Thursday, April 17th. B. Riley reissued a "buy" rating on shares of Genius Sports in a research report on Wednesday, May 7th. Northland Securities began coverage on shares of Genius Sports in a research report on Friday, July 25th. They set an "outperform" rating and a $14.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Genius Sports in a research report on Monday, April 21st. They set a "buy" rating and a $12.00 target price on the stock. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Genius Sports currently has a consensus rating of "Buy" and a consensus price target of $12.72.

Genius Sports Price Performance

The company has a market capitalization of $2.51 billion, a PE ratio of -61.31 and a beta of 1.86. The company's fifty day moving average is $10.31 and its 200-day moving average is $9.91.

Genius Sports (NYSE:GENI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.17). The business had revenue of $118.72 million for the quarter, compared to analysts' expectations of $118.28 million. Genius Sports had a negative net margin of 8.54% and a negative return on equity of 6.90%. The business's quarterly revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.09) earnings per share. Equities research analysts forecast that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

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

Institutional Investors Weigh In On Genius Sports

Several institutional investors have recently bought and sold shares of the company. Capital Research Global Investors boosted its stake in Genius Sports by 14.2% in the fourth quarter. Capital Research Global Investors now owns 12,952,320 shares of the company's stock valued at $112,038,000 after acquiring an additional 1,610,078 shares in the last quarter. Wellington Management Group LLP boosted its stake in Genius Sports by 25.4% in the first quarter. Wellington Management Group LLP now owns 10,244,434 shares of the company's stock valued at $102,547,000 after acquiring an additional 2,076,590 shares in the last quarter. Voss Capital LP boosted its stake in Genius Sports by 17.0% in the first quarter. Voss Capital LP now owns 9,269,519 shares of the company's stock valued at $92,788,000 after acquiring an additional 1,346,087 shares in the last quarter. Granahan Investment Management LLC boosted its stake in Genius Sports by 0.8% in the fourth quarter. Granahan Investment Management LLC now owns 7,963,691 shares of the company's stock valued at $68,886,000 after acquiring an additional 64,752 shares in the last quarter. Finally, Hood River Capital Management LLC boosted its stake in Genius Sports by 6.2% in the fourth quarter. Hood River Capital Management LLC now owns 5,026,233 shares of the company's stock valued at $43,477,000 after acquiring an additional 295,485 shares in the last quarter. 81.91% of the stock is currently owned by institutional investors and hedge funds.

About Genius Sports

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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