Lake Street Capital Forecasts Strong Price Appreciation for Genius Sports (NYSE:GENI) Stock

Genius Sports (NYSE:GENI) had its target price hoisted by Lake Street Capital from $10.50 to $11.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Lake Street Capital’s target price suggests a potential upside of 15.77% from the stock’s previous close.

A number of other brokerages have also weighed in on GENI. Citigroup raised their price objective on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. B. Riley raised their price objective on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. JMP Securities restated a “market outperform” rating and issued a $11.00 price objective on shares of Genius Sports in a report on Monday, January 27th. Macquarie raised their price objective on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group lifted their price target on Genius Sports from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.83.

Genius Sports Price Performance

Shares of NYSE:GENI opened at $9.50 on Wednesday. Genius Sports has a 1 year low of $4.91 and a 1 year high of $10.33. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -29.69 and a beta of 2.14. The business’s 50 day moving average price is $9.00 and its 200-day moving average price is $8.44.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). The firm had revenue of $175.53 million during the quarter, compared to analysts’ expectations of $175.52 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. During the same quarter in the previous year, the business posted ($0.10) EPS. On average, sell-side analysts expect that Genius Sports will post -0.1 earnings per share for the current year.

Institutional Trading of Genius Sports

A number of hedge funds and other institutional investors have recently modified their holdings of GENI. Divisadero Street Capital Management LP increased its position in shares of Genius Sports by 32,386.5% during the 4th quarter. Divisadero Street Capital Management LP now owns 3,551,751 shares of the company’s stock worth $30,723,000 after purchasing an additional 3,540,818 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Genius Sports during the 4th quarter worth about $24,712,000. FMR LLC increased its position in shares of Genius Sports by 53.2% during the 3rd quarter. FMR LLC now owns 7,219,874 shares of the company’s stock worth $56,604,000 after purchasing an additional 2,507,165 shares during the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of Genius Sports during the 4th quarter worth about $15,553,000. Finally, Capital Research Global Investors increased its position in shares of Genius Sports by 14.2% during the 4th quarter. Capital Research Global Investors now owns 12,952,320 shares of the company’s stock worth $112,038,000 after purchasing an additional 1,610,078 shares during the last quarter. 81.91% of the stock is owned by institutional investors and hedge funds.

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.