Genius Sports (NYSE:GENI) Trading Up 6% - Should You Buy?

Key Points

• Genius Sports shares rose 6% on Monday, trading as high as $6.63 after closing at $6.30, though volume was well below average.
• Recent analyst actions were mostly positive: several firms maintained or initiated buy ratings, and MarketBeat shows a consensus rating of Moderate Buy with an average target price of $11.44.
• The company’s latest earnings missed EPS estimates but revenue beat forecasts and rose 30.5% year over year, while institutional ownership remains high at 81.91%.

Shares of Genius Sports Limited (NYSE:GENI - Get Free Report) shot up 6% during trading on Monday . The stock traded as high as $6.63 and last traded at $6.6780. 1,308,627 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 6,192,570 shares. The stock had previously closed at $6.30.

Analysts Set New Price Targets

Several analysts have recently weighed in on GENI shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Genius Sports in a research report on Monday, May 11th. They set a "buy" rating and a $10.00 target price on the stock. BTIG Research cut their target price on Genius Sports from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Thursday, May 7th. Needham & Company LLC cut their price objective on Genius Sports from $14.00 to $10.00 and set a "buy" rating for the company in a report on Friday, May 8th. Roth Capital set a $10.00 target price on shares of Genius Sports in a report on Friday, May 8th. Finally, B. Riley Financial restated a "buy" rating on shares of Genius Sports in a research report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $11.44.

Genius Sports Stock Up 7.4%

The business's fifty day moving average is $5.91 and its two-hundred day moving average is $6.30. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -11.09 and a beta of 1.91.

Genius Sports (NYSE:GENI - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $187.95 million for the quarter, compared to analyst estimates of $170.60 million. Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.The firm's quarterly revenue was up 30.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) EPS. Research analysts forecast that Genius Sports Limited will post -0.12 EPS for the current year.

Institutional Trading of Genius Sports

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Genius Sports by 79.5% during the third quarter. JPMorgan Chase & Co. now owns 1,293,172 shares of the company's stock worth $16,009,000 after purchasing an additional 572,607 shares during the period. Quent Capital LLC acquired a new position in Genius Sports in the fourth quarter valued at about $2,840,000. UBS Group AG boosted its holdings in Genius Sports by 45.1% during the fourth quarter. UBS Group AG now owns 3,974,964 shares of the company's stock worth $43,804,000 after buying an additional 1,235,352 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Genius Sports by 65.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,909,945 shares of the company's stock worth $17,321,000 after buying an additional 1,549,816 shares during the last quarter. Finally, IFC Advisors LLC grew its position in shares of Genius Sports by 23.2% during the 1st quarter. IFC Advisors LLC now owns 3,583,833 shares of the company's stock worth $15,876,000 after buying an additional 676,034 shares during the period. 81.91% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.