Genius Sports (NYSE:GENI) Price Target Raised to $13.00 at UBS Group

Key Points

• UBS Group has increased its price target for Genius Sports (NYSE:GENI) from $11.00 to $13.00, suggesting a potential upside of 2.17% based on the stock's previous close.
• The consensus rating for Genius Sports is "Buy", with a consensus target price of $14.12, reflecting strong positive sentiment from multiple analysts.
• Despite a year-over-year revenue increase of 24.4%, Genius Sports reported a greater loss than expected in its latest quarterly earnings, with an EPS of ($0.21) compared to a consensus estimate of ($0.04).

Genius Sports (NYSE:GENI - Free Report) had its price target boosted by UBS Group from $11.00 to $13.00 in a report published on Wednesday, Marketbeat.com reports. They currently have a neutral rating on the stock.

GENI has been the topic of a number of other reports. Citigroup reaffirmed an "outperform" rating on shares of Genius Sports in a report on Wednesday, September 3rd. Needham & Company LLC boosted their target price on shares of Genius Sports from $13.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Wall Street Zen cut shares of Genius Sports from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. The Goldman Sachs Group upped their price target on Genius Sports from $12.00 to $14.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, Benchmark increased their price objective on Genius Sports from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $14.22.

Genius Sports Price Performance

Shares of Genius Sports stock traded down $0.00 on Wednesday, hitting $12.48. The company had a trading volume of 1,182,930 shares, compared to its average volume of 4,330,959. Genius Sports has a 52 week low of $6.72 and a 52 week high of $13.73. The company has a market cap of $2.69 billion, a PE ratio of -40.24 and a beta of 1.87. The business has a 50-day simple moving average of $11.91 and a 200-day simple moving average of $10.62.

Genius Sports (NYSE:GENI - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.17). Genius Sports had a negative return on equity of 11.48% and a negative net margin of 13.94%.The firm had revenue of $118.72 million during the quarter, compared to analyst estimates of $118.28 million. During the same quarter last year, the company earned ($0.09) earnings per share. The business's revenue for the quarter was up 24.4% on a year-over-year basis. On average, equities research analysts predict 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 modified their holdings of the business. 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 worth $102,547,000 after acquiring an additional 2,076,590 shares in the last quarter. Voss Capital LP increased its holdings 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 valued at $92,788,000 after purchasing an additional 1,346,087 shares during the period. Cooper Creek Partners Management LLC lifted its position in shares of 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 worth $95,595,000 after purchasing an additional 806,233 shares in the last quarter. Senvest Management LLC boosted its holdings in shares of Genius Sports by 1.4% during the second quarter. Senvest Management LLC now owns 7,813,156 shares of the company's stock worth $81,257,000 after purchasing an additional 107,083 shares during the period. Finally, Hood River Capital Management LLC grew its position in Genius Sports by 3.3% during 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 in the last quarter. 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.