The Goldman Sachs Group started coverage on shares of Genius Sports (NYSE:GENI – Free Report) in a research report released on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $7.50 target price on the stock.
A number of other equities research analysts have also recently issued reports on the company. Cantor Fitzgerald reiterated an overweight rating and issued a $8.00 target price on shares of Genius Sports in a research note on Monday, February 26th. B. Riley started coverage on Genius Sports in a research note on Friday, April 5th. They issued a buy rating and a $9.00 target price on the stock. Needham & Company LLC reiterated a buy rating and issued a $9.00 target price on shares of Genius Sports in a research note on Wednesday, March 6th. JMP Securities reiterated a market outperform rating and issued a $8.00 target price on shares of Genius Sports in a research note on Thursday, March 7th. Finally, Macquarie started coverage on Genius Sports in a research note on Thursday, December 21st. They issued an outperform rating and a $11.00 target price on the stock. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, Genius Sports currently has an average rating of Buy and an average target price of $9.25.
View Our Latest Research Report on GENI
Genius Sports Price Performance
Genius Sports (NYSE:GENI – Get Free Report) last released its quarterly earnings data on Wednesday, March 6th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.10). The business had revenue of $127.20 million during the quarter, compared to analyst estimates of $126.53 million. Genius Sports had a negative return on equity of 12.67% and a negative net margin of 20.71%. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.18) EPS. Equities research analysts anticipate that Genius Sports will post -0.13 earnings per share for the current year.
Institutional Investors Weigh In On Genius Sports
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Voss Capital LLC bought a new stake in Genius Sports in the fourth quarter worth about $3,244,000. Wellington Management Group LLP raised its position in Genius Sports by 2,189.3% in the third quarter. Wellington Management Group LLP now owns 1,504,922 shares of the company’s stock worth $8,021,000 after acquiring an additional 1,439,184 shares in the last quarter. ARK Investment Management LLC raised its position in Genius Sports by 9.9% in the fourth quarter. ARK Investment Management LLC now owns 6,914,013 shares of the company’s stock worth $42,729,000 after acquiring an additional 620,472 shares in the last quarter. Trexquant Investment LP bought a new stake in Genius Sports in the third quarter worth about $1,366,000. Finally, Essex Investment Management Co. LLC bought a new stake in Genius Sports in the third quarter worth about $1,093,000. 81.91% of the stock is currently 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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