Genius Sports (NYSE:GENI) Now Covered by Roth Capital

Key Points

• Roth Capital has initiated coverage on Genius Sports (NYSE:GENI) with a "buy" rating and a price target of $16.00, indicating a potential upside of 26.88% from the previous close.
• Several other analysts have also raised their price targets for Genius Sports to $16.00, with the average target price currently at $14.22 and an overall "buy" rating from a majority of analysts.
• Genius Sports reported a quarterly revenue of $118.72 million, with a year-over-year increase of 24.4%, despite reporting a loss per share of ($0.21) which was below analyst expectations.

Roth Capital assumed coverage on shares of Genius Sports (NYSE:GENI - Free Report) in a report published on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $16.00 target price on the stock.

A number of other equities analysts have also recently commented on the company. Arete Research raised Genius Sports to a "strong-buy" rating in a report on Wednesday, July 9th. B. Riley raised their price target on Genius Sports from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. JMP Securities raised their price target on Genius Sports from $13.00 to $15.00 and gave the stock a "market outperform" rating in a research report on Wednesday, September 3rd. Truist Financial assumed coverage on Genius Sports in a research note on Tuesday, July 1st. They issued a "buy" rating and a $14.00 price objective for the company. Finally, Northland Securities began coverage on Genius Sports in a research note on Friday, July 25th. They issued an "outperform" rating and a $14.00 price objective for the company. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $14.22.

Genius Sports Price Performance

Genius Sports stock traded up $0.03 during trading hours on Friday, hitting $12.30. 2,520,809 shares of the stock traded hands, compared to its average volume of 4,330,121. The firm's 50 day moving average price is $12.00 and its 200-day moving average price is $10.65. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -39.83 and a beta of 1.87. Genius Sports has a 1 year low of $6.72 and a 1 year high of $13.73.

Genius Sports (NYSE:GENI - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.17). The company had revenue of $118.72 million during the quarter, compared to analysts' expectations of $118.28 million. Genius Sports had a negative return on equity of 11.48% and a negative net margin of 13.94%.The firm's quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.09) EPS. Research analysts forecast that Genius Sports will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in Genius Sports by 25.4% during the 1st quarter. Wellington Management Group LLP now owns 10,244,434 shares of the company's stock worth $102,547,000 after buying an additional 2,076,590 shares during the last quarter. Voss Capital LP raised its position in shares of Genius Sports by 17.0% during the 1st quarter. Voss Capital LP now owns 9,269,519 shares of the company's stock worth $92,788,000 after purchasing an additional 1,346,087 shares during the period. Cooper Creek Partners Management LLC increased its position in Genius Sports by 9.6% in the 2nd quarter. Cooper Creek Partners Management LLC now owns 9,191,865 shares of the company's stock valued at $95,595,000 after acquiring an additional 806,233 shares during the period. Senvest Management LLC increased its position in Genius Sports by 1.4% in the 2nd quarter. Senvest Management LLC now owns 7,813,156 shares of the company's stock valued at $81,257,000 after acquiring an additional 107,083 shares during the period. Finally, Hood River Capital Management LLC increased its position in Genius Sports by 3.3% in the 2nd quarter. Hood River Capital Management LLC now owns 6,811,333 shares of the company's stock valued at $70,838,000 after acquiring an additional 215,384 shares during the period. Hedge funds and other institutional investors 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.