Truist Financial Issues Pessimistic Forecast for Genius Sports (NYSE:GENI) Stock Price

Genius Sports (NYSE:GENI) had its target price cut by stock analysts at Truist Financial from $13.00 to $10.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 102.27% from the company’s previous close.

Other analysts also recently issued research reports about the company. BTIG Research cut their price objective on Genius Sports from $16.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Wall Street Zen raised shares of Genius Sports from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Benchmark restated a “buy” rating on shares of Genius Sports in a research report on Thursday, March 5th. Northland Securities set a $12.00 target price on shares of Genius Sports in a research note on Friday, February 6th. Finally, Guggenheim decreased their target price on Genius Sports from $17.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Genius Sports currently has a consensus rating of “Moderate Buy” and an average target price of $12.50.

Genius Sports Stock Up 1.7%

GENI opened at $4.94 on Tuesday. The firm has a market cap of $1.22 billion, a PE ratio of -11.50 and a beta of 2.08. The business has a fifty day simple moving average of $5.18 and a 200-day simple moving average of $8.58. Genius Sports has a fifty-two week low of $3.83 and a fifty-two week high of $13.73.

Genius Sports (NYSE:GENI) last announced its earnings results on Thursday, March 5th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.10). Genius Sports had a negative net margin of 16.67% and a negative return on equity of 13.66%. The company had revenue of $240.50 million for the quarter, compared to analysts’ expectations of $234.94 million. During the same period in the prior year, the company earned ($0.12) earnings per share. The company’s revenue for the quarter was up 37.0% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Genius Sports by 79.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,293,172 shares of the company’s stock worth $16,009,000 after buying an additional 572,607 shares during the period. New York State Common Retirement Fund lifted its position in Genius Sports by 395.5% during the 3rd quarter. New York State Common Retirement Fund now owns 979,000 shares of the company’s stock worth $12,120,000 after acquiring an additional 781,411 shares during the last quarter. Penn Capital Management Company LLC grew its position in shares of Genius Sports by 2,593.7% in the third quarter. Penn Capital Management Company LLC now owns 1,219,711 shares of the company’s stock valued at $15,116,000 after purchasing an additional 1,174,431 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Genius Sports by 4.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,006,277 shares of the company’s stock worth $36,316,000 after buying an additional 117,591 shares during the period. Finally, Stephens Investment Management Group LLC raised its stake in Genius Sports by 341.6% during the 3rd quarter. Stephens Investment Management Group LLC now owns 3,330,469 shares of the company’s stock valued at $41,231,000 after purchasing an additional 2,576,329 shares during the last quarter. Institutional investors and hedge funds 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.