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

Wall Street Zen cut shares of Genius Sports (NYSE:GENI) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday.

GENI has been the subject of several other research reports. The Goldman Sachs Group reiterated a “buy” rating and set a $10.50 price target on shares of Genius Sports in a report on Friday, August 7th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $8.00 price objective on shares of Genius Sports in a report on Friday, August 7th. Truist Financial reduced 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. Oppenheimer raised their price target on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Finally, Stifel Nicolaus upped their price objective 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. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Genius Sports presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.44.

Genius Sports Price Performance

Shares of NYSE GENI opened at $7.88 on Tuesday. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -11.60 and a beta of 1.90. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.97 and a current ratio of 0.97. Genius Sports has a fifty-two week low of $3.83 and a fifty-two week high of $13.73. The firm’s 50-day simple moving average is $6.70 and its 200 day simple moving average is $5.89.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.21). The company had revenue of $195.50 million for the quarter, compared to the consensus estimate of $184.43 million. Genius Sports had a negative return on equity of 23.83% and a negative net margin of 22.99%.The business’s revenue for the quarter was up 64.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.21) earnings per share. As a group, research analysts anticipate that Genius Sports will post -0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

Several large investors have recently modified their holdings of the stock. ABS Direct Equity Fund LLC purchased a new position in shares of Genius Sports in the first quarter worth about $1,772,000. Quent Capital LLC purchased a new stake in shares of Genius Sports during the 4th quarter valued at approximately $2,840,000. UBS Group AG boosted its holdings in Genius Sports by 45.1% in the 4th quarter. UBS Group AG now owns 3,974,964 shares of the company’s stock worth $43,804,000 after buying an additional 1,235,352 shares during the period. Renaissance Technologies LLC grew its stake in Genius Sports by 277.0% in the 1st quarter. Renaissance Technologies LLC now owns 2,197,700 shares of the company’s stock valued at $9,736,000 after buying an additional 1,614,700 shares in the last quarter. Finally, IFC Advisors LLC raised its holdings in Genius Sports by 23.2% during the 1st quarter. IFC Advisors LLC now owns 3,583,833 shares of the company’s stock valued at $15,876,000 after acquiring an additional 676,034 shares during the period. Hedge funds and other 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.