Genius Sports’ (GENI) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Genius Sports (NYSE:GENIFree Report) in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has a $9.00 price objective on the stock.

A number of other brokerages have also weighed in on GENI. Macquarie initiated coverage on shares of Genius Sports in a research note on Thursday, December 21st. They set an outperform rating and a $11.00 target price on the stock. Benchmark reissued a buy rating and set a $10.00 price target on shares of Genius Sports in a research report on Tuesday, November 14th. Cantor Fitzgerald reissued an overweight rating and set a $8.00 price target on shares of Genius Sports in a research report on Monday, February 26th. Finally, Craig Hallum lowered their price target on shares of Genius Sports from $15.00 to $12.00 and set a buy rating for the company in a research report on Tuesday, November 14th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $9.38.

Check Out Our Latest Stock Analysis on GENI

Genius Sports Stock Performance

GENI stock opened at $5.97 on Wednesday. Genius Sports has a 52 week low of $3.55 and a 52 week high of $8.45. The firm’s fifty day moving average is $6.60 and its 200 day moving average is $5.93. The firm has a market cap of $1.31 billion, a P/E ratio of -14.91 and a beta of 2.01.

Genius Sports (NYSE:GENIGet Free Report) last announced its quarterly earnings results on Wednesday, March 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.10). The firm had revenue of $127.20 million during the quarter, compared to the consensus estimate of $126.53 million. Genius Sports had a negative return on equity of 12.58% and a negative net margin of 20.71%. Genius Sports’s revenue was up 20.8% on a year-over-year basis. During the same period last year, the business earned ($0.18) EPS. As a group, analysts forecast that Genius Sports will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Genius Sports

Several hedge funds have recently modified their holdings of GENI. Envestnet Asset Management Inc. raised its stake in shares of Genius Sports by 37.2% in the first quarter. Envestnet Asset Management Inc. now owns 64,414 shares of the company’s stock valued at $296,000 after acquiring an additional 17,455 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of 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 worth $4,515,000 after purchasing an additional 218,044 shares during the last quarter. US Bancorp DE bought a new position in Genius Sports during the 1st quarter worth about $69,000. Bridgefront Capital LLC bought a new position in Genius Sports during the 1st quarter worth about $65,000. Finally, UBS Group AG grew its holdings in Genius Sports by 26.1% during the 1st quarter. UBS Group AG now owns 526,614 shares of the company’s stock worth $2,422,000 after acquiring an additional 108,874 shares in the last quarter. Hedge funds and other institutional investors own 43.24% of the company’s stock.

About Genius Sports

(Get Free Report)

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.

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Analyst Recommendations for Genius Sports (NYSE:GENI)

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