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

Genius Sports (NYSE:GENI) had its price objective upped by research analysts at Wells Fargo & Company from $10.00 to $13.00 in a report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 15.40% from the stock’s current price.

A number of other brokerages also recently weighed in on GENI. B. Riley boosted their target price on shares of Genius Sports from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Benchmark upped their price objective on Genius Sports from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. JMP Securities lifted their target price on Genius Sports from $13.00 to $15.00 and gave the company a “market outperform” rating in a research note on Wednesday, September 3rd. Zacks Research cut Genius Sports from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 5th. Finally, The Goldman Sachs Group lifted their price objective on Genius Sports from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.90.

Genius Sports Trading Up 0.3%

NYSE GENI traded up $0.04 during trading hours on Friday, reaching $11.27. 838,803 shares of the company’s stock were exchanged, compared to its average volume of 4,712,873. The firm has a fifty day moving average of $11.02 and a 200-day moving average of $11.15. Genius Sports has a one year low of $8.15 and a one year high of $13.73. The stock has a market cap of $2.42 billion, a PE ratio of -24.12 and a beta of 1.94.

Genius Sports (NYSE:GENI) last announced its earnings results on Tuesday, November 4th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.18). Genius Sports had a negative return on equity of 14.39% and a negative net margin of 19.71%.The business had revenue of $166.28 million for the quarter, compared to the consensus estimate of $156.24 million. As a group, research analysts forecast that Genius Sports will post -0.1 EPS for the current year.

Hedge Funds Weigh In On Genius Sports

Several institutional investors and hedge funds have recently modified their holdings of GENI. Hodges Capital Management Inc. lifted its holdings in shares of Genius Sports by 351.7% during the 2nd quarter. Hodges Capital Management Inc. now owns 971,235 shares of the company’s stock worth $10,101,000 after acquiring an additional 756,235 shares during the period. Moody National Bank Trust Division lifted its position in shares of Genius Sports by 11.8% during the 2nd quarter. Moody National Bank Trust Division now owns 661,714 shares of the company’s stock valued at $6,882,000 after acquiring an additional 69,600 shares during the period. Entropy Technologies LP bought a new stake in Genius Sports during the 1st quarter valued at $906,000. Quantbot Technologies LP lifted its stake in shares of Genius Sports by 1,259.8% in the first quarter. Quantbot Technologies LP now owns 397,484 shares of the company’s stock valued at $3,979,000 after buying an additional 368,254 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of 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 during the last quarter. 81.91% of the stock is currently owned by institutional investors and hedge funds.

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.