Wall Street Zen Downgrades Genius Sports (NYSE:GENI) to Strong Sell

Genius Sports (NYSE:GENI) was downgraded by analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued on Sunday.

Several other research firms have also recently commented on GENI. Truist Financial cut their target price on shares of Genius Sports from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Stifel Nicolaus raised their price target on shares of Genius Sports from $5.00 to $7.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. Needham & Company LLC decreased their price target on shares of Genius Sports from $14.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Genius Sports in a report on Monday, May 11th. They set a “buy” rating and a $10.00 price objective on the stock. Finally, Wells Fargo & Company cut their price objective on shares of Genius Sports from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Genius Sports has a consensus rating of “Moderate Buy” and a consensus target price of $11.19.

Genius Sports Stock Up 12.4%

GENI opened at $7.29 on Friday. The stock’s 50 day moving average price is $6.18 and its two-hundred day moving average price is $6.12. The firm has a market capitalization of $1.79 billion, a P/E ratio of -11.94 and a beta of 1.91. Genius Sports has a 12-month low of $3.83 and a 12-month high of $13.73.

Genius Sports (NYSE:GENI) last issued its quarterly 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 business had revenue of $187.95 million for the quarter, compared to analyst estimates of $170.60 million. During the same quarter last year, the firm earned ($0.03) earnings per share. The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. As a group, analysts anticipate that Genius Sports will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GENI. Parallel Advisors LLC acquired a new stake in Genius Sports during the first quarter worth $25,000. Baer Investment Advisory LLC acquired a new position in shares of Genius Sports in the 1st quarter valued at $61,000. UMB Bank n.a. acquired a new position in shares of Genius Sports in the 4th quarter valued at $63,000. Lexington Hill Partners LLC bought a new position in shares of Genius Sports during the 2nd quarter worth about $64,000. Finally, Pacer Advisors Inc. lifted its holdings in shares of Genius Sports by 29.1% during the 1st quarter. Pacer Advisors Inc. now owns 15,270 shares of the company’s stock worth $68,000 after acquiring an additional 3,440 shares during the period. 81.91% of the stock is owned by institutional investors.

About Genius Sports

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.