Genius Sports (NYSE:GENI) Price Target Raised to $11.50 at The Goldman Sachs Group

Genius Sports (NYSE:GENI) had its price target upped by analysts at The Goldman Sachs Group from $8.50 to $11.50 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 26.23% from the company’s current price.

Several other equities analysts have also issued reports on GENI. Benchmark lifted their price target on Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $9.00 target price on shares of Genius Sports in a research report on Tuesday. B. Riley lifted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday. Macquarie upped their price target on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Oppenheimer upped their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Genius Sports currently has an average rating of “Buy” and an average target price of $10.39.

Genius Sports Price Performance

NYSE:GENI opened at $9.11 on Thursday. The firm has a market capitalization of $2.09 billion, a P/E ratio of -28.47 and a beta of 1.98. Genius Sports has a one year low of $4.91 and a one year high of $10.15. The company’s 50-day simple moving average is $7.66 and its 200 day simple moving average is $6.58.

Genius Sports (NYSE:GENI) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $120.20 million for the quarter, compared to the consensus estimate of $118.94 million. During the same quarter in the prior year, the business posted ($0.06) EPS. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, equities research analysts expect that Genius Sports will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Genius Sports

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AYAL Capital Advisors Ltd purchased a new stake in shares of Genius Sports in the second quarter valued at $4,635,000. Rice Hall James & Associates LLC purchased a new stake in Genius Sports in the 2nd quarter worth about $5,521,000. Hood River Capital Management LLC raised its position in Genius Sports by 6.0% in the 2nd quarter. Hood River Capital Management LLC now owns 2,026,873 shares of the company’s stock worth $11,046,000 after purchasing an additional 114,490 shares during the period. Squarepoint Ops LLC bought a new stake in Genius Sports in the second quarter worth about $1,804,000. Finally, Bank of Montreal Can purchased a new position in shares of Genius Sports during the second quarter valued at approximately $6,575,000. Hedge funds and other institutional investors own 81.91% of the company’s stock.

About Genius Sports

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.