Genius Sports (NYSE:GENI) Price Target Raised to $7.00

Genius Sports (NYSE:GENI) had its price objective hoisted by Stifel Nicolaus from $5.00 to $7.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 9.61% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Wall Street Zen raised Genius Sports from a “strong sell” rating to a “sell” rating in a research note on Saturday. Needham & Company LLC lowered their target price on Genius Sports from $14.00 to $10.00 and set a “buy” rating for the company in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft began coverage on Genius Sports in a research report on Monday, May 11th. They set a “buy” rating and a $10.00 price target on the stock. Freedom Capital upgraded Genius Sports to a “strong-buy” rating in a research note on Monday. Finally, Citigroup decreased their price objective on Genius Sports from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Genius Sports has a consensus rating of “Moderate Buy” and a consensus target price of $11.56.

Genius Sports Stock Performance

GENI stock traded down $0.26 during trading on Wednesday, hitting $6.39. 2,895,414 shares of the company’s stock traded hands, compared to its average volume of 6,209,934. Genius Sports has a 52 week low of $3.83 and a 52 week high of $13.73. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -10.48 and a beta of 1.91. The business has a fifty day simple moving average of $6.00 and a 200 day simple moving average of $6.24.

Genius Sports (NYSE:GENI) last issued its earnings results on Thursday, May 7th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $170.60 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. Genius Sports’s revenue was up 30.5% on a year-over-year basis. Research analysts forecast that Genius Sports will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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