Needham & Company LLC Issues Pessimistic Forecast for Genius Sports (NYSE:GENI) Stock Price

Key Points

• Needham cut its price target on Genius Sports from $14 to $10 but kept a "buy" rating, implying roughly a 110% upside from the stock's recent close.
• Genius's latest quarter missed EPS expectations (‑$0.21 vs. ‑$0.09) but revenue beat at $187.95M, up 30.5% year-over-year, while the company remains unprofitable with negative margins and ROE.
• Shares trade near $4.77 (52-week range $3.83–$13.73) and the analyst consensus is a Moderate Buy with an average target of $12.17, indicating significant implied upside despite mixed analyst revisions.

Genius Sports (NYSE:GENI - Get Free Report) had its target price cut by stock analysts at Needham & Company LLC from $14.00 to $10.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price objective would suggest a potential upside of 109.86% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. Guggenheim reduced their price objective on Genius Sports from $17.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, February 6th. UBS Group reiterated a "buy" rating on shares of Genius Sports in a report on Wednesday, March 4th. Northland Securities set a $12.00 target price on Genius Sports in a report on Friday, February 6th. Stifel Nicolaus cut their target price on Genius Sports from $7.00 to $5.00 and set a "hold" rating on the stock in a report on Thursday, April 9th. Finally, Oppenheimer cut their target price on Genius Sports from $12.00 to $11.00 and set an "outperform" rating on the stock in a report on Thursday, March 5th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $12.17.

Genius Sports Stock Performance

Shares of GENI opened at $4.77 on Friday. Genius Sports has a 52-week low of $3.83 and a 52-week high of $13.73. The business's 50 day moving average price is $4.83 and its two-hundred day moving average price is $8.00. The firm has a market cap of $1.17 billion, a PE ratio of -11.08 and a beta of 1.80.

Genius Sports (NYSE:GENI - Get Free Report) last issued its quarterly earnings results 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). Genius Sports had a negative net margin of 16.67% and a negative return on equity of 13.66%. The business had revenue of $187.95 million during the quarter, compared to analyst estimates of $170.60 million. During the same period last year, the firm posted ($0.03) earnings per share. Genius Sports's quarterly revenue was up 30.5% compared to the same quarter last year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Genius Sports by 79.5% in the third quarter. JPMorgan Chase & Co. now owns 1,293,172 shares of the company's stock valued at $16,009,000 after purchasing an additional 572,607 shares in the last quarter. New York State Common Retirement Fund increased its stake in Genius Sports by 395.5% in the 3rd quarter. New York State Common Retirement Fund now owns 979,000 shares of the company's stock valued at $12,120,000 after buying an additional 781,411 shares during the last quarter. Penn Capital Management Company LLC increased its stake in Genius Sports by 2,593.7% in the 3rd quarter. Penn Capital Management Company LLC now owns 1,219,711 shares of the company's stock valued at $15,116,000 after buying an additional 1,174,431 shares during the last quarter. Stephens Investment Management Group LLC increased its stake in Genius Sports by 341.6% in the 3rd quarter. Stephens Investment Management Group LLC now owns 3,330,469 shares of the company's stock valued at $41,231,000 after buying an additional 2,576,329 shares during the last quarter. Finally, Peregrine Capital Management LLC purchased a new stake in Genius Sports in the 3rd quarter valued at about $10,153,000. Institutional investors own 81.91% of the company's stock.

About Genius Sports

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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