Wells Fargo & Company Issues Pessimistic Forecast for Genius Sports (NYSE:GENI) Stock Price

Key Points

• Wells Fargo cut its price target on Genius Sports from $9.00 to $8.00 while keeping an overweight rating, implying about 26.9% upside from the prior close.
• Other analysts remain mostly positive on the stock, with the consensus rating at Moderate Buy and an average target price of $11.44.
• Genius Sports recently reported a Q1 EPS miss of $0.21 loss versus estimates of $0.09 loss, even though revenue of $187.95 million beat expectations and rose 30.5% year over year.

Genius Sports (NYSE:GENI - Get Free Report) had its target price decreased by analysts at Wells Fargo & Company from $9.00 to $8.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 26.86% from the company's previous close.

Several other equities research analysts have also recently issued reports on the stock. Citigroup decreased their price objective on shares of Genius Sports from $9.00 to $8.00 and set a "buy" rating for the company in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Genius Sports in a research report on Monday, May 11th. They set a "buy" rating and a $10.00 price objective for the company. Stifel Nicolaus dropped their price objective on Genius Sports from $7.00 to $5.00 and set a "hold" rating on the stock in a report on Thursday, April 9th. B. Riley Financial restated a "buy" rating on shares of Genius Sports in a research note on Friday, May 8th. Finally, Roth Capital set a $10.00 price objective on Genius Sports in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $11.44.

Genius Sports Stock Up 0.1%

Shares of GENI stock opened at $6.31 on Monday. The firm has a 50 day moving average of $5.91 and a two-hundred day moving average of $6.30. The stock has a market capitalization of $1.55 billion, a PE ratio of -10.34 and a beta of 1.91. Genius Sports has a 52 week low of $3.83 and a 52 week high of $13.73.

Genius Sports (NYSE:GENI - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.12). The company had revenue of $187.95 million during the quarter, compared to analysts' expectations of $170.60 million. Genius Sports had a negative net margin of 22.26% and a negative return on equity of 20.34%. The company's revenue for the quarter was up 30.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.03) earnings per share. Analysts expect that Genius Sports will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Parallel Advisors LLC acquired a new position in shares of Genius Sports during the 1st quarter worth $25,000. UMB Bank n.a. acquired a new stake in shares of Genius Sports in the 4th quarter worth approximately $63,000. Victory Financial Group LLC purchased a new position in Genius Sports in the 4th quarter valued at approximately $113,000. Lexington Hill Partners LLC acquired a new position in Genius Sports during the second quarter worth $64,000. Finally, Osaic Holdings Inc. boosted its position in Genius Sports by 72.6% during the second quarter. Osaic Holdings Inc. now owns 10,645 shares of the company's stock worth $111,000 after purchasing an additional 4,477 shares in the last quarter. Hedge funds and other institutional investors own 81.91% of the company's stock.

Genius Sports Company Profile

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.

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