Benchmark Reaffirms “Buy” Rating for Genius Sports (NYSE:GENI)

Genius Sports (NYSE:GENI)‘s stock had its “buy” rating reiterated by Benchmark in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $12.00 price objective on the stock. Benchmark’s price target points to a potential upside of 16.00% from the stock’s previous close.

A number of other research analysts also recently weighed in on the company. Guggenheim began coverage on Genius Sports in a report on Tuesday, March 18th. They issued a “buy” rating and a $12.00 target price on the stock. The Goldman Sachs Group boosted their target price on shares of Genius Sports from $11.00 to $12.50 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Citizens Jmp cut shares of Genius Sports from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Craig Hallum set a $15.00 target price on Genius Sports in a report on Tuesday, March 4th. Finally, JMP Securities reissued a “market outperform” rating and set a $11.00 price target on shares of Genius Sports in a report on Monday, January 27th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Genius Sports has a consensus rating of “Moderate Buy” and a consensus price target of $12.23.

Genius Sports Price Performance

Shares of NYSE:GENI opened at $10.35 on Thursday. Genius Sports has a 1 year low of $4.91 and a 1 year high of $11.16. The company has a market cap of $2.23 billion, a P/E ratio of -32.33 and a beta of 1.98. The stock’s fifty day moving average price is $9.59 and its 200-day moving average price is $8.91.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Tuesday, March 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). The company had revenue of $175.53 million for 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 period in the previous year, the business earned ($0.10) EPS. On average, sell-side analysts anticipate that Genius Sports will post -0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Emerald Mutual Fund Advisers Trust bought a new position in Genius Sports during the fourth quarter valued at approximately $58,000. Steward Partners Investment Advisory LLC increased its position in Genius Sports by 39.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company’s stock worth $105,000 after purchasing an additional 3,429 shares during the last quarter. Park National Corp OH purchased a new stake in Genius Sports during the first quarter valued at $107,000. Bayesian Capital Management LP purchased a new position in shares of Genius Sports in the 4th quarter worth $129,000. Finally, Perigon Wealth Management LLC bought a new stake in shares of Genius Sports in the 4th quarter worth about $136,000. 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.