Needham & Company LLC Reaffirms "Buy" Rating for Genius Sports (NYSE:GENI)

Genius Sports (NYSE:GENI - Get Free Report)'s stock had its "buy" rating restated by investment analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They currently have a $13.00 price target on the stock. Needham & Company LLC's target price suggests a potential upside of 18.45% from the stock's current price.

Several other equities research analysts have also recently weighed in on the company. JMP Securities reissued a "market outperform" rating and issued a $11.00 price target on shares of Genius Sports in a research note on Monday, January 27th. B. Riley started coverage on shares of Genius Sports in a report on Tuesday, March 18th. They set a "buy" rating for the company. Craig Hallum set a $15.00 price objective on shares of Genius Sports in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft started coverage on shares of Genius Sports in a research note on Monday, April 21st. They set a "buy" rating and a $12.00 target price for the company. Finally, Benchmark reaffirmed a "buy" rating and set a $12.00 price target on shares of Genius Sports in a research report on Thursday, April 17th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $12.19.

Genius Sports Price Performance

NYSE GENI opened at $10.98 on Tuesday. Genius Sports has a fifty-two week low of $5.03 and a fifty-two week high of $11.40. The business has a fifty day moving average price of $9.88 and a two-hundred day moving average price of $9.18. The stock has a market capitalization of $2.36 billion, a PE ratio of -34.30 and a beta of 1.96.

Genius Sports (NYSE:GENI - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. As a group, sell-side analysts expect that Genius Sports will post -0.1 earnings per share for the current year.

Institutional Trading of Genius Sports

Several institutional investors and hedge funds have recently modified their holdings of the stock. Emerald Mutual Fund Advisers Trust bought a new stake in Genius Sports during the fourth quarter worth $58,000. Steward Partners Investment Advisory LLC grew its stake in shares of Genius Sports by 39.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company's stock worth $105,000 after acquiring an additional 3,429 shares in the last quarter. Park National Corp OH purchased a new stake in shares of Genius Sports in the first quarter valued at about $107,000. Bayesian Capital Management LP bought a new position in shares of Genius Sports during the fourth quarter valued at about $129,000. Finally, Perigon Wealth Management LLC bought a new position in shares of Genius Sports during the fourth quarter valued at about $136,000. 81.91% of the stock is owned by hedge funds and other institutional investors.

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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