Needham & Company LLC Reiterates Buy Rating for Genius Sports (NYSE:GENI)

Genius Sports (NYSE:GENI)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They currently have a $12.00 target price on the stock. Needham & Company LLC’s target price indicates a potential upside of 23.39% from the stock’s current price.

GENI has been the subject of several other research reports. Benchmark raised their target price on Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Citigroup raised their target price on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. The Goldman Sachs Group raised their target price on Genius Sports from $8.50 to $11.50 and gave the stock a “buy” rating in a research note on Thursday, November 14th. JMP Securities restated a “market outperform” rating and issued a $11.00 target price on shares of Genius Sports in a research note on Monday, January 27th. Finally, Macquarie raised their target price on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.83.

Genius Sports Stock Performance

Shares of GENI opened at $9.73 on Tuesday. The business has a 50-day moving average of $8.99 and a 200 day moving average of $8.43. Genius Sports has a fifty-two week low of $4.91 and a fifty-two week high of $10.33. The firm has a market cap of $2.09 billion, a P/E ratio of -30.39 and a beta of 2.15.

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 the consensus estimate of $0.04 by ($0.16). Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The firm had revenue of $175.53 million during the quarter, compared to analysts’ expectations of $175.52 million. During the same period last year, the business posted ($0.10) EPS. As a group, research analysts predict that Genius Sports will post -0.1 earnings per share for the current fiscal year.

Institutional Trading of Genius Sports

A number of large investors have recently modified their holdings of GENI. Emerald Mutual Fund Advisers Trust bought a new stake in Genius Sports in the 4th quarter worth approximately $58,000. Captrust Financial Advisors bought a new stake in Genius Sports in the 3rd quarter worth approximately $84,000. Walleye Trading LLC lifted its position in Genius Sports by 169.9% in the 3rd quarter. Walleye Trading LLC now owns 12,155 shares of the company’s stock worth $95,000 after buying an additional 29,555 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Genius Sports by 39.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company’s stock worth $105,000 after buying an additional 3,429 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new stake in Genius Sports in the 4th quarter worth approximately $129,000. Institutional investors own 81.91% of the company’s stock.

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.