Genius Sports (NYSE:GENI) Stock Price Expected to Rise, Benchmark Analyst Says

Genius Sports (NYSE:GENI) had its target price raised by Benchmark from $14.00 to $15.00 in a research note published on Monday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also issued reports on the stock. Truist Financial assumed coverage on shares of Genius Sports in a research note on Tuesday, July 1st. They issued a “buy” rating and a $14.00 target price on the stock. Arete Research raised shares of Genius Sports to a “strong-buy” rating in a research note on Wednesday, July 9th. Macquarie raised their target price on shares of Genius Sports from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Wall Street Zen lowered shares of Genius Sports from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, Needham & Company LLC raised their target price on shares of Genius Sports from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $14.00.

Genius Sports Stock Up 0.0%

Shares of NYSE:GENI opened at $12.6230 on Monday. Genius Sports has a 12 month low of $6.72 and a 12 month high of $13.10. The company’s 50-day moving average price is $10.94 and its two-hundred day moving average price is $10.17. The firm has a market cap of $2.72 billion, a P/E ratio of -40.72 and a beta of 1.86.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.21) EPS 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 company had revenue of $118.72 million for the quarter, compared to the consensus estimate of $118.28 million. During the same period in the prior year, the company earned ($0.09) EPS. The firm’s revenue was up 24.4% compared to the same quarter last year. As a group, equities analysts predict that Genius Sports will post -0.1 earnings per share for the current fiscal year.

Genius Sports declared that its board has authorized a stock repurchase program on Tuesday, May 6th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 4.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in Genius Sports by 62.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,161,843 shares of the company’s stock worth $21,683,000 after acquiring an additional 833,335 shares during the last quarter. D.A. Davidson & CO. boosted its stake in Genius Sports by 67.0% during the 1st quarter. D.A. Davidson & CO. now owns 89,551 shares of the company’s stock worth $896,000 after acquiring an additional 35,943 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Genius Sports by 194.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 48,904 shares of the company’s stock worth $490,000 after acquiring an additional 32,322 shares during the last quarter. Greenwood Capital Associates LLC acquired a new stake in Genius Sports during the 1st quarter worth approximately $518,000. Finally, IFC Advisors LLC raised its holdings in Genius Sports by 6.8% during the 1st quarter. IFC Advisors LLC now owns 2,735,155 shares of the company’s stock worth $27,379,000 after buying an additional 173,171 shares during the period. Institutional investors own 81.91% of the company’s stock.

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.