UBS Group Forecasts Strong Price Appreciation for Genius Sports (NYSE:GENI) Stock

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 - Get Free Report) had its price target hoisted by analysts at UBS Group from $11.00 to $13.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price objective would indicate a potential upside of 2.17% from the stock's previous close.

GENI has been the subject of a number of other research reports. Needham & Company LLC upped their price target on Genius Sports from $13.00 to $16.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Truist Financial began coverage on Genius Sports in a research report on Tuesday, July 1st. They set a "buy" rating and a $14.00 price target for the company. B. Riley upped their price target on Genius Sports from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Northland Capmk upgraded Genius Sports to a "strong-buy" rating in a report on Friday, July 25th. Finally, Arete Research upgraded Genius Sports to a "strong-buy" rating in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Genius Sports presently has a consensus rating of "Buy" and a consensus target price of $14.12.

Genius Sports Stock Down 0.7%

Shares of NYSE GENI traded down $0.10 during midday trading on Wednesday, reaching $12.72. The company had a trading volume of 645,633 shares, compared to its average volume of 4,316,757. Genius Sports has a one year low of $6.72 and a one year high of $13.73. The firm's fifty day moving average price is $11.75 and its 200-day moving average price is $10.52. The stock has a market cap of $2.74 billion, a PE ratio of -41.08 and a beta of 1.87.

Genius Sports (NYSE:GENI - Get Free Report) last released its quarterly 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 business had revenue of $118.72 million for the quarter, compared to the consensus estimate of $118.28 million. Genius Sports had a negative net margin of 13.94% and a negative return on equity of 11.48%. The company's revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) EPS. As a group, equities research analysts expect that Genius Sports will post -0.1 EPS for the current year.

Institutional Investors Weigh In On Genius Sports

Several large investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in shares of Genius Sports by 25.4% in the first quarter. Wellington Management Group LLP now owns 10,244,434 shares of the company's stock worth $102,547,000 after purchasing an additional 2,076,590 shares during the last quarter. Voss Capital LP raised its stake in shares of Genius Sports by 17.0% during the first quarter. Voss Capital LP now owns 9,269,519 shares of the company's stock valued at $92,788,000 after acquiring an additional 1,346,087 shares in the last quarter. Cooper Creek Partners Management LLC raised its stake 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 worth $95,595,000 after buying an additional 806,233 shares in the last quarter. Senvest Management LLC raised its stake in Genius Sports by 1.4% in the second quarter. Senvest Management LLC now owns 7,813,156 shares of the company's stock worth $81,257,000 after buying an additional 107,083 shares in the last quarter. Finally, Hood River Capital Management LLC increased its position in shares of 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 worth $70,838,000 after purchasing an additional 215,384 shares in the last quarter. 81.91% of the stock is owned by institutional investors.

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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