Genius Sports (NYSE:GENI) Rating Increased to Strong-Buy at Roth Capital

Key Points

• Roth Capital has upgraded Genius Sports (NYSE:GENI) to a "strong-buy" rating, indicating increased confidence in the company's performance.
• Multiple analysts are expressing positive views, with JMP Securities raising their price target from $13.00 to $15.00 and Benchmark increasing it to $16.00, while the overall consensus rating for the company is "Buy."
• Genius Sports reported quarterly earnings that missed expectations, with a loss per share of ($0.21), although revenue increased by 24.4% year-over-year to $118.72 million.

Genius Sports (NYSE:GENI - Get Free Report) was upgraded by equities researchers at Roth Capital to a "strong-buy" rating in a research note issued to investors on Thursday, September 11th,Zacks.com reports.

Several other analysts also recently commented on the company. Arete Research raised Genius Sports to a "strong-buy" rating in a research note on Wednesday, July 9th. Arete initiated coverage on Genius Sports in a research note on Wednesday, July 9th. They set a "buy" rating and a $15.00 price objective for the company. Citigroup reiterated an "outperform" rating on shares of Genius Sports in a research report on Wednesday, September 3rd. The Goldman Sachs Group boosted their target price on Genius Sports from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, Truist Financial initiated coverage on Genius Sports in a research report on Tuesday, July 1st. They set a "buy" rating and a $14.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $14.22.

Genius Sports Trading Up 2.0%

Shares of Genius Sports stock traded up $0.25 on Thursday, hitting $12.53. The stock had a trading volume of 2,701,458 shares, compared to its average volume of 4,336,761. Genius Sports has a 52-week low of $6.72 and a 52-week high of $13.73. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of -40.40 and a beta of 1.87. The company's 50 day moving average price is $12.02 and its 200 day moving average price is $10.66.

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

Institutional Investors Weigh In On Genius Sports

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