Genius Sports (NYSE:GENI) Stock Price Down 7.1% - What's Next?

Key Points

• Genius Sports shares fell 7.1% to about $7.79 in Monday trading, with volume sharply below the stock’s average daily level.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $11.44, although Zacks Research downgraded the stock to “Strong Sell.”
• The latest quarter showed strong revenue growth of 64.7% year over year to $195.5 million, but Genius Sports missed EPS expectations and remained unprofitable, reporting a $0.28 loss per share and a negative 22.99% net margin.

Genius Sports Limited (NYSE:GENI - Get Free Report) shares traded down 7.1% during trading on Monday . The stock traded as low as $7.84 and last traded at $7.7870. Approximately 955,677 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 6,401,086 shares. The stock had previously closed at $8.38.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Zacks Research lowered Genius Sports from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. Roth Capital reissued a "buy" rating and issued a $12.00 price objective on shares of Genius Sports in a research note on Friday, August 7th. The Goldman Sachs Group restated a "buy" rating and set a $10.50 target price on shares of Genius Sports in a report on Friday, August 7th. Wells Fargo & Company restated an "equal weight" rating and issued a $8.00 target price on shares of Genius Sports in a research note on Friday, August 7th. Finally, Truist Financial cut their price target on Genius Sports from $13.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Genius Sports has an average rating of "Moderate Buy" and an average price target of $11.44.

Genius Sports Stock Performance

The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -11.40 and a beta of 1.90. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.10. The firm has a fifty day simple moving average of $6.75 and a 200-day simple moving average of $5.88.

Genius Sports (NYSE:GENI - Get Free Report) last released its earnings results on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.21). The firm had revenue of $195.50 million during the quarter, compared to analyst estimates of $184.43 million. Genius Sports had a negative net margin of 22.99% and a negative return on equity of 23.83%. The firm's quarterly revenue was up 64.7% on a year-over-year basis. During the same period last year, the business posted ($0.21) earnings per share. Analysts forecast that Genius Sports Limited will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TimesSquare Capital Management LLC bought a new stake in Genius Sports in the fourth quarter valued at approximately $59,851,000. Senvest Management LLC raised its stake in shares of Genius Sports by 45.1% in the 1st quarter. Senvest Management LLC now owns 13,653,724 shares of the company's stock valued at $60,486,000 after purchasing an additional 4,243,157 shares during the period. Invesco Ltd. lifted its stake in Genius Sports by 3,584.2% in the 2nd quarter. Invesco Ltd. now owns 3,291,635 shares of the company's stock valued at $34,233,000 after acquiring an additional 3,202,290 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of Genius Sports by 785.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,289,270 shares of the company's stock worth $36,248,000 after purchasing an additional 2,917,830 shares in the last quarter. Finally, Voss Capital LP lifted its position in Genius Sports by 35.4% during the 4th quarter. Voss Capital LP now owns 11,100,000 shares of the company's stock worth $122,322,000 after buying an additional 2,900,000 shares in the last quarter. Institutional investors 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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