Genius Sports (NYSE:GENI) Price Target Cut to $8.00 by Analysts at Wells Fargo & Company

Genius Sports (NYSE:GENI) had its target price lowered by equities researchers at Wells Fargo & Company from $9.00 to $8.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 26.86% from the stock’s previous close.

Several other brokerages also recently issued reports on GENI. Roth Capital set a $10.00 price objective on Genius Sports in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Genius Sports in a research note on Monday, May 11th. They issued a “buy” rating and a $10.00 target price for the company. Wall Street Zen raised shares of Genius Sports from a “strong sell” rating to a “sell” rating in a research note on Saturday. Needham & Company LLC lowered their price target on shares of Genius Sports from $14.00 to $10.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Weiss Ratings lowered shares of Genius Sports from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.44.

Genius Sports Price Performance

GENI stock opened at $6.31 on Monday. The company’s 50 day simple moving average is $5.91 and its 200-day simple moving average is $6.30. Genius Sports has a 12 month low of $3.83 and a 12 month high of $13.73. The firm has a market capitalization of $1.55 billion, a PE ratio of -10.34 and a beta of 1.91.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.12). Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.The company had revenue of $187.95 million for the quarter, compared to analyst estimates of $170.60 million. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. The company’s revenue for the quarter was up 30.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Genius Sports will post -0.12 earnings per share for the current year.

Institutional Trading of Genius Sports

Institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC acquired a new stake in shares of Genius Sports during the 1st quarter worth $25,000. Baer Investment Advisory LLC purchased a new position in shares of Genius Sports in the 1st quarter worth $61,000. UMB Bank n.a. acquired a new position in Genius Sports in the fourth quarter valued at $63,000. Lexington Hill Partners LLC purchased a new stake in Genius Sports during the second quarter valued at about $64,000. Finally, Pacer Advisors Inc. grew its position in Genius Sports by 29.1% during the first quarter. Pacer Advisors Inc. now owns 15,270 shares of the company’s stock valued at $68,000 after acquiring an additional 3,440 shares during the period. 81.91% of the stock is owned by hedge funds and other institutional investors.

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.