Genius Sports (NYSE:GENI) Rating Reiterated by Needham & Company LLC

Genius Sports (NYSE:GENI - Get Free Report)'s stock had its "buy" rating reiterated by Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports. They presently have a $9.00 price target on the stock. Needham & Company LLC's price objective indicates a potential upside of 65.14% from the company's current price.

A number of other research firms have also recently issued reports on GENI. Oppenheimer reissued an "outperform" rating and issued a $10.00 target price on shares of Genius Sports in a research note on Thursday, April 4th. Benchmark reissued a "buy" rating and issued a $10.00 target price on shares of Genius Sports in a research note on Thursday, March 7th. B. Riley initiated coverage on Genius Sports in a research note on Friday, April 5th. They issued a "buy" rating and a $9.00 target price for the company. JMP Securities restated a "market outperform" rating and issued a $8.00 price target on shares of Genius Sports in a report on Thursday, March 7th. Finally, The Goldman Sachs Group assumed coverage on Genius Sports in a research report on Tuesday, April 16th. They set a "buy" rating and a $7.50 price objective for the company. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, Genius Sports has an average rating of "Buy" and a consensus price target of $9.33.

Genius Sports Price Performance

Shares of NYSE GENI traded up $0.07 during midday trading on Thursday, hitting $5.45. The stock had a trading volume of 1,597,949 shares, compared to its average volume of 2,218,554. The company's 50-day simple moving average is $5.71 and its 200 day simple moving average is $5.88. The firm has a market cap of $1.27 billion, a P/E ratio of -13.70 and a beta of 1.98. Genius Sports has a fifty-two week low of $4.52 and a fifty-two week high of $8.45.

Genius Sports (NYSE:GENI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.02). Genius Sports had a negative return on equity of 12.67% and a negative net margin of 20.71%. The company had revenue of $119.72 million for the quarter, compared to analyst estimates of $116.53 million. During the same period last year, the firm earned ($0.12) earnings per share. The firm's revenue for the quarter was up 23.1% on a year-over-year basis. Equities analysts expect that Genius Sports will post -0.13 EPS for the current fiscal year.

Institutional Trading of Genius Sports

A number of hedge funds have recently made changes to their positions in the business. Orion Portfolio Solutions LLC bought a new stake in Genius Sports during the 3rd quarter valued at $58,000. NewEdge Wealth LLC bought a new position in shares of Genius Sports in the fourth quarter worth $62,000. Algert Global LLC bought a new position in shares of Genius Sports in the third quarter worth $68,000. Brown Advisory Inc. bought a new position in shares of Genius Sports in the fourth quarter worth $76,000. Finally, MQS Management LLC bought a new position in Genius Sports in the third quarter valued at $88,000. 81.91% of the stock is owned by institutional investors and hedge funds.

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.