Genius Sports (NYSE:GENI) Stock Price Up 5.4% – Still a Buy?

Genius Sports Limited (NYSE:GENI)’s share price rose 5.4% on Tuesday . The stock traded as high as $9.85 and last traded at $9.84. Approximately 1,618,141 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 2,394,955 shares. The stock had previously closed at $9.34.

Wall Street Analysts Forecast Growth

GENI has been the subject of several research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price objective on shares of Genius Sports in a report on Tuesday, November 12th. Benchmark lifted their target price on Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. B. Riley lifted their target price on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Citigroup lifted their target price on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Oppenheimer boosted their price objective on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $10.72.

Genius Sports Price Performance

The stock has a market capitalization of $2.24 billion, a P/E ratio of -30.63 and a beta of 1.98. The stock’s fifty day moving average is $7.87 and its two-hundred day moving average is $6.79.

Genius Sports (NYSE:GENI) last issued its earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The business had revenue of $120.20 million for the quarter, compared to analysts’ expectations of $118.94 million. During the same period in the previous year, the firm posted ($0.06) EPS. The company’s quarterly revenue was up 18.2% on a year-over-year basis. Analysts expect that Genius Sports Limited will post -0.16 EPS for the current year.

Institutional Trading of Genius Sports

A number of hedge funds have recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Genius Sports by 42.4% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,953 shares of the company’s stock valued at $98,000 after acquiring an additional 5,342 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of Genius Sports in the third quarter valued at $78,000. Arkadios Wealth Advisors purchased a new stake in Genius Sports in the 3rd quarter worth about $79,000. Captrust Financial Advisors acquired a new position in Genius Sports in the 3rd quarter valued at approximately $84,000. Finally, Koss Olinger Consulting LLC acquired a new position in Genius Sports in the 2nd quarter valued at approximately $64,000. 81.91% of the stock is owned by hedge funds and other 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.