JMP Securities Increases Genius Sports (NYSE:GENI) Price Target to $13.00

Genius Sports (NYSE:GENI - Get Free Report) had its price target raised by JMP Securities from $12.00 to $13.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. JMP Securities' price target would suggest a potential upside of 24.19% from the stock's current price.

Several other analysts have also issued reports on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $13.00 price target on shares of Genius Sports in a research report on Thursday, June 12th. Benchmark reissued a "buy" rating and set a $12.00 target price on shares of Genius Sports in a report on Thursday, April 17th. Lake Street Capital lifted their price objective on shares of Genius Sports from $10.50 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of Genius Sports in a research report on Monday, April 21st. They issued a "buy" rating and a $12.00 price objective on the stock. Finally, B. Riley reiterated a "buy" rating on shares of Genius Sports in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $12.35.

Genius Sports Stock Performance

Shares of GENI opened at $10.47 on Monday. The stock has a fifty day moving average price of $10.07 and a two-hundred day moving average price of $9.55. The company has a market cap of $2.25 billion, a price-to-earnings ratio of -56.05 and a beta of 1.87. Genius Sports has a 52-week low of $5.29 and a 52-week high of $11.40.

Genius Sports (NYSE:GENI - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $143.99 million during the quarter, compared to analyst estimates of $143.31 million. Genius Sports had a negative return on equity of 6.90% and a negative net margin of 8.54%. The company's revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.11) EPS. As a group, research analysts predict that Genius Sports will post -0.1 EPS for the current fiscal year.

Genius Sports announced that its Board of Directors has authorized a share buyback program on Tuesday, May 6th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 4.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Institutional Trading of Genius Sports

Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its stake in shares of Genius Sports by 4.6% in the 1st quarter. Victory Capital Management Inc. now owns 24,854 shares of the company's stock worth $249,000 after buying an additional 1,085 shares during the last quarter. Pacer Advisors Inc. grew its stake in Genius Sports by 61.5% in the 1st quarter. Pacer Advisors Inc. now owns 3,754 shares of the company's stock valued at $38,000 after purchasing an additional 1,430 shares during the period. OneDigital Investment Advisors LLC increased its position in shares of Genius Sports by 2.9% during the 1st quarter. OneDigital Investment Advisors LLC now owns 57,732 shares of the company's stock valued at $578,000 after purchasing an additional 1,652 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Genius Sports by 9.8% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,849 shares of the company's stock worth $259,000 after buying an additional 2,314 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of Genius Sports by 19.4% during the 4th quarter. ProShare Advisors LLC now owns 17,132 shares of the company's stock worth $148,000 after purchasing an additional 2,787 shares during the last quarter. Institutional investors and hedge funds own 81.91% of the company's stock.

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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