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

Needham & Company LLC reiterated their buy rating on shares of Genius Sports (NYSE:GENI) in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a $12.00 price objective on the stock.

Other equities analysts also recently issued research reports about the company. Citizens Jmp downgraded Genius Sports from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Benchmark lifted their price objective on Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Citigroup boosted their target price on shares of Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. The Goldman Sachs Group increased their target price on shares of Genius Sports from $8.50 to $11.50 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, B. Riley boosted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.69.

Genius Sports Price Performance

Shares of Genius Sports stock opened at $9.29 on Tuesday. Genius Sports has a 52-week low of $4.91 and a 52-week high of $10.33. The firm has a market capitalization of $2.00 billion, a PE ratio of -29.03 and a beta of 2.15. The company’s fifty day moving average price is $8.97 and its two-hundred day moving average price is $8.42.

Genius Sports (NYSE:GENI) last posted its earnings results on Tuesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). The business had revenue of $175.53 million during the quarter, compared to the consensus estimate 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 firm earned ($0.10) EPS. Analysts predict that Genius Sports will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Genius Sports in the 4th quarter worth approximately $58,000. Captrust Financial Advisors acquired a new position in Genius Sports during the 3rd quarter worth $84,000. Walleye Trading LLC lifted its holdings in Genius Sports by 169.9% during the 3rd quarter. Walleye Trading LLC now owns 12,155 shares of the company’s stock worth $95,000 after buying an additional 29,555 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Genius Sports by 39.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company’s stock worth $105,000 after buying an additional 3,429 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new position in Genius Sports during the 4th quarter worth $129,000. 81.91% of the stock is owned by institutional investors and hedge funds.

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.