Genius Sports (NYSE:GENI) Stock Price Expected to Rise, B. Riley Analyst Says

Genius Sports (NYSE:GENI) had its target price lifted by B. Riley from $10.00 to $12.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also recently commented on GENI. Needham & Company LLC restated a “buy” rating and set a $9.00 target price on shares of Genius Sports in a report on Tuesday, November 12th. Benchmark increased their price objective on shares of Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday. Oppenheimer boosted their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday. Macquarie upped their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, The Goldman Sachs Group raised their price target on shares of Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a report on Thursday, August 8th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, Genius Sports presently has an average rating of “Buy” and an average target price of $10.39.

Genius Sports Stock Down 3.0 %

Shares of GENI stock opened at $9.11 on Wednesday. The company has a market capitalization of $2.09 billion, a P/E ratio of -28.47 and a beta of 1.98. Genius Sports has a 12-month low of $4.91 and a 12-month high of $10.15. The firm has a 50-day moving average price of $7.66 and a 200 day moving average price of $6.60.

Genius Sports (NYSE:GENI) last posted its earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The company had revenue of $120.20 million during the quarter, compared to analysts’ expectations of $118.94 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. Genius Sports’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) earnings per share. As a group, research analysts expect that Genius Sports will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. M&T Bank Corp lifted its stake in Genius Sports by 54.8% in the third quarter. M&T Bank Corp now owns 136,536 shares of the company’s stock valued at $1,070,000 after buying an additional 48,306 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Genius Sports in the 3rd quarter valued at about $299,000. Main Management ETF Advisors LLC bought a new stake in shares of Genius Sports in the 3rd quarter valued at about $1,010,000. XTX Topco Ltd raised its position in shares of Genius Sports by 221.0% in the 3rd quarter. XTX Topco Ltd now owns 70,535 shares of the company’s stock valued at $553,000 after acquiring an additional 48,563 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Genius Sports by 2.9% during the 3rd quarter. Wellington Management Group LLP now owns 8,292,521 shares of the company’s stock worth $65,013,000 after acquiring an additional 230,209 shares during the last quarter. 81.91% of the stock is currently owned by institutional investors.

Genius Sports Company Profile

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.