Roth Capital Upgrades Genius Sports (NYSE:GENI) to "Strong-Buy"

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 stock analysts at Roth Capital to a "strong-buy" rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other analysts have also commented on GENI. JMP Securities lifted their price target on Genius Sports from $13.00 to $15.00 and gave the company a "market outperform" rating in a research note on Wednesday, September 3rd. Northland Securities started coverage on Genius Sports in a research note on Friday, July 25th. They set an "outperform" rating and a $14.00 price target on the stock. Wall Street Zen lowered Genius Sports from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Benchmark lifted their price target on Genius Sports from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Guggenheim set a $16.00 price target on Genius Sports and gave the company a "buy" rating in a research note on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Genius Sports has a consensus rating of "Buy" and a consensus price target of $14.22.

Genius Sports Stock Down 0.9%

NYSE:GENI opened at $12.50 on Thursday. The stock's 50-day simple moving average is $11.91 and its 200 day simple moving average is $10.59. The firm has a market capitalization of $2.69 billion, a PE ratio of -40.31 and a beta of 1.87. Genius Sports has a twelve month low of $6.72 and a twelve month high of $13.73.

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

Hedge Funds Weigh In On Genius Sports

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP acquired a new position in shares of Genius Sports in the first quarter worth approximately $37,000. Pacer Advisors Inc. increased its holdings in Genius Sports by 61.5% in the first quarter. Pacer Advisors Inc. now owns 3,754 shares of the company's stock worth $38,000 after purchasing an additional 1,430 shares in the last quarter. CWM LLC increased its holdings in Genius Sports by 275.5% in the second quarter. CWM LLC now owns 3,980 shares of the company's stock worth $41,000 after purchasing an additional 2,920 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Genius Sports in the second quarter worth approximately $75,000. Finally, Amalgamated Bank bought a new stake in Genius Sports in the second quarter worth approximately $79,000. 81.91% of the stock is owned by institutional investors and hedge funds.

Genius Sports Company Profile

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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