Benchmark Reaffirms “Buy” Rating for Genius Sports (NYSE:GENI)

Genius Sports (NYSE:GENI)‘s stock had its “buy” rating reiterated by research analysts at Benchmark in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $16.00 price target on the stock. Benchmark’s price target points to a potential upside of 42.03% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group boosted their price target on Genius Sports from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Roth Capital began coverage on Genius Sports in a research report on Friday, September 12th. They issued a “buy” rating and a $16.00 target price on the stock. Citizens Jmp upped their target price on Genius Sports from $15.00 to $17.00 and gave the company a “market outperform” rating in a report on Thursday, December 4th. JMP Securities upped their price target on Genius Sports from $13.00 to $15.00 and gave the company a “market outperform” rating in a research report on Wednesday, September 3rd. Finally, Guggenheim set a $17.00 price objective on shares of Genius Sports in a report on Thursday, December 4th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.05.

Genius Sports Trading Up 3.0%

Shares of GENI traded up $0.33 during trading hours on Tuesday, hitting $11.27. The company had a trading volume of 649,689 shares, compared to its average volume of 4,624,128. Genius Sports has a one year low of $8.15 and a one year high of $13.73. The company’s fifty day moving average price is $10.61 and its two-hundred day moving average price is $11.30. The company has a market capitalization of $2.42 billion, a PE ratio of -23.97 and a beta of 1.94.

Genius Sports (NYSE:GENI) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.18). Genius Sports had a negative net margin of 19.71% and a negative return on equity of 14.39%. The business had revenue of $166.28 million during the quarter, compared to analysts’ expectations of $156.24 million. Analysts forecast that Genius Sports will post -0.1 earnings per share for the current year.

Institutional Investors Weigh In On Genius Sports

A number of hedge funds have recently bought and sold shares of the business. Penn Capital Management Company LLC lifted its holdings in Genius Sports by 2,593.7% in the third quarter. Penn Capital Management Company LLC now owns 1,219,711 shares of the company’s stock worth $15,116,000 after purchasing an additional 1,174,431 shares during the period. CIBC Bancorp USA Inc. bought a new position in Genius Sports in the 3rd quarter valued at $289,000. Oberweis Asset Management Inc. bought a new position in shares of Genius Sports during the third quarter worth $12,567,000. Castleark Management LLC lifted its position in shares of Genius Sports by 4.0% in the third quarter. Castleark Management LLC now owns 704,666 shares of the company’s stock worth $8,724,000 after purchasing an additional 27,046 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Genius Sports in the 3rd quarter valued at $941,000. Institutional investors and hedge funds 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.