Genius Sports (NYSE:GENI - Get Free Report) was upgraded by analysts at Arete Research to a "strong-buy" rating in a note issued to investors on Wednesday,Zacks.com reports.
Several other brokerages also recently weighed in on GENI. Arete initiated coverage on Genius Sports in a research note on Wednesday. They set a "buy" rating and a $15.00 target price for the company. Citigroup reaffirmed an "outperform" rating on shares of Genius Sports in a research note on Monday, June 30th. Guggenheim initiated coverage on Genius Sports in a research note on Tuesday, March 18th. They set a "buy" rating and a $12.00 target price for the company. B. Riley reiterated a "buy" rating on shares of Genius Sports in a research report on Wednesday, May 7th. Finally, JMP Securities set a $13.00 price target on Genius Sports and gave the stock a "market outperform" rating in a research report on Monday, June 30th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $12.63.
Check Out Our Latest Analysis on GENI
Genius Sports Trading Up 4.0%
Shares of Genius Sports stock opened at $10.86 on Wednesday. The firm has a market cap of $2.34 billion, a P/E ratio of -57.16 and a beta of 1.86. Genius Sports has a 12 month low of $5.31 and a 12 month high of $11.40. The stock's fifty day moving average price is $10.02 and its 200-day moving average price is $9.61.
Genius Sports (NYSE:GENI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.02. Genius Sports had a negative return on equity of 6.90% and a negative net margin of 8.54%. The business had revenue of $143.99 million for the quarter, compared to analyst estimates of $143.31 million. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. The company's revenue was up 20.3% on a year-over-year basis. Analysts forecast that Genius Sports will post -0.1 earnings per share for the current year.
Genius Sports declared that its Board of Directors has approved a stock buyback plan on Tuesday, May 6th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its stock is undervalued.
Hedge Funds Weigh In On Genius Sports
Large investors have recently modified their holdings of the business. Channel Wealth LLC acquired a new position in Genius Sports during the 2nd quarter worth about $366,000. Harbor Capital Advisors Inc. lifted its stake in Genius Sports by 35.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 233,702 shares of the company's stock worth $2,431,000 after acquiring an additional 61,581 shares in the last quarter. Voya Investment Management LLC lifted its stake in Genius Sports by 20.1% during the 1st quarter. Voya Investment Management LLC now owns 2,781,888 shares of the company's stock worth $27,847,000 after acquiring an additional 465,862 shares in the last quarter. Hodges Capital Management Inc. acquired a new position in Genius Sports during the 1st quarter worth about $2,152,000. Finally, 1060 Capital LLC acquired a new position in Genius Sports during the 1st quarter worth about $7,007,000. Institutional investors and hedge funds own 81.91% of the company's stock.
Genius Sports Company Profile
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Get Free Report)
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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