Genius Sports (NYSE:GENI) Given New $10.00 Price Target at BTIG Research

Genius Sports (NYSE:GENI) had its target price boosted by equities research analysts at BTIG Research from $9.00 to $10.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective points to a potential upside of 26.41% from the stock’s current price.

A number of other brokerages also recently weighed in on GENI. Oppenheimer upped their target price on Genius Sports from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Needham & Company LLC lowered their price objective 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 began coverage on shares of Genius Sports in a research note on Monday, May 11th. They issued a “buy” rating and a $10.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of Genius Sports in a research report on Monday, July 27th. They issued a “buy” rating and a $9.50 target price for the company. Finally, Wall Street Zen upgraded shares of Genius Sports from a “strong sell” rating to a “sell” rating in a report on Monday. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.19.

Genius Sports Stock Down 5.0%

Shares of GENI traded down $0.42 during mid-day trading on Thursday, reaching $7.91. The company’s stock had a trading volume of 10,182,202 shares, compared to its average volume of 6,438,409. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -12.97 and a beta of 1.90. The business has a fifty day moving average of $6.49 and a 200 day moving average of $5.97. Genius Sports has a 1 year low of $3.83 and a 1 year high of $13.73.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). The business had revenue of $195.50 million for the quarter, compared to analysts’ expectations of $184.43 million. Genius Sports had a negative net margin of 22.26% and a negative return on equity of 20.34%. The business’s quarterly revenue was up 64.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.21) EPS. On average, analysts predict that Genius Sports will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Genius Sports

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC acquired a new stake in Genius Sports in the first quarter valued at approximately $25,000. UMB Bank n.a. acquired a new position in shares of Genius Sports during the 4th quarter worth $63,000. Lexington Hill Partners LLC bought a new position in shares of Genius Sports during the 2nd quarter valued at $64,000. Osaic Holdings Inc. raised its holdings in shares of Genius Sports by 72.6% during the 2nd quarter. Osaic Holdings Inc. now owns 10,645 shares of the company’s stock valued at $111,000 after purchasing an additional 4,477 shares in the last quarter. Finally, Orion Porfolio Solutions LLC acquired a new stake in shares of Genius Sports in the 2nd quarter valued at $112,000. Institutional investors 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.