Genius Sports (NYSE:GENI) Announces Quarterly Earnings Results

Genius Sports (NYSE:GENIGet Free Report) issued its quarterly earnings results on Wednesday. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.10), MarketWatch Earnings reports. Genius Sports had a negative return on equity of 12.58% and a negative net margin of 20.71%. The business had revenue of $127.20 million during the quarter, compared to the consensus estimate of $126.53 million. During the same quarter last year, the firm posted ($0.18) earnings per share. Genius Sports’s revenue was up 20.8% compared to the same quarter last year.

Genius Sports Trading Down 5.8 %

Shares of NYSE:GENI opened at $6.29 on Friday. The business’s fifty day moving average price is $6.60 and its two-hundred day moving average price is $5.94. Genius Sports has a fifty-two week low of $3.55 and a fifty-two week high of $8.45.

Institutional Trading of Genius Sports

A number of large investors have recently bought and sold shares of GENI. Envestnet Asset Management Inc. grew its holdings in shares of Genius Sports by 37.2% during the first quarter. Envestnet Asset Management Inc. now owns 64,414 shares of the company’s stock worth $296,000 after purchasing an additional 17,455 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Genius Sports by 28.6% in the first quarter. Bank of New York Mellon Corp now owns 981,490 shares of the company’s stock valued at $4,515,000 after buying an additional 218,044 shares during the period. US Bancorp DE acquired a new position in Genius Sports in the first quarter valued at about $69,000. Bridgefront Capital LLC acquired a new position in Genius Sports in the first quarter valued at about $65,000. Finally, UBS Group AG lifted its stake in Genius Sports by 26.1% in the first quarter. UBS Group AG now owns 526,614 shares of the company’s stock valued at $2,422,000 after buying an additional 108,874 shares during the period. 43.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on GENI shares. JMP Securities reiterated a “market outperform” rating and issued a $8.00 price target on shares of Genius Sports in a research report on Thursday. Benchmark reissued a “buy” rating and issued a $10.00 price target on shares of Genius Sports in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a research note on Wednesday. Craig Hallum lowered their target price on Genius Sports from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, November 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $8.00 target price on shares of Genius Sports in a research note on Monday, February 26th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Genius Sports currently has an average rating of “Buy” and an average price target of $9.38.

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Genius Sports Company Profile

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Genius Sports Limited develops and sells 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.

Further Reading

Earnings History for Genius Sports (NYSE:GENI)

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