Genius Sports (NYSE:GENI) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Genius Sports (NYSE:GENI) in a research report released on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $7.50 target price on the stock.

A number of other equities research analysts have also recently issued reports on the company. Cantor Fitzgerald reiterated an overweight rating and issued a $8.00 target price on shares of Genius Sports in a research note on Monday, February 26th. B. Riley started coverage on Genius Sports in a research note on Friday, April 5th. They issued a buy rating and a $9.00 target price on the stock. Needham & Company LLC reiterated a buy rating and issued a $9.00 target price on shares of Genius Sports in a research note on Wednesday, March 6th. JMP Securities reiterated a market outperform rating and issued a $8.00 target price on shares of Genius Sports in a research note on Thursday, March 7th. Finally, Macquarie started coverage on Genius Sports in a research note on Thursday, December 21st. They issued an outperform rating and a $11.00 target price on the stock. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, Genius Sports currently has an average rating of Buy and an average target price of $9.25.

Genius Sports Price Performance

Genius Sports stock opened at $5.11 on Tuesday. The company has a market cap of $1.19 billion, a PE ratio of -12.77 and a beta of 1.96. The company has a fifty day moving average price of $6.19 and a two-hundred day moving average price of $5.87. Genius Sports has a 12 month low of $3.55 and a 12 month high of $8.45.

Genius Sports (NYSE:GENI) last released its quarterly earnings data on Wednesday, March 6th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.10). The business had revenue of $127.20 million during the quarter, compared to analyst estimates of $126.53 million. Genius Sports had a negative return on equity of 12.67% and a negative net margin of 20.71%. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.18) EPS. Equities research analysts anticipate that Genius Sports will post -0.13 earnings per share for the current year.

Institutional Investors Weigh In On Genius Sports

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Voss Capital LLC bought a new stake in Genius Sports in the fourth quarter worth about $3,244,000. Wellington Management Group LLP raised its position in Genius Sports by 2,189.3% in the third quarter. Wellington Management Group LLP now owns 1,504,922 shares of the company’s stock worth $8,021,000 after acquiring an additional 1,439,184 shares in the last quarter. ARK Investment Management LLC raised its position in Genius Sports by 9.9% in the fourth quarter. ARK Investment Management LLC now owns 6,914,013 shares of the company’s stock worth $42,729,000 after acquiring an additional 620,472 shares in the last quarter. Trexquant Investment LP bought a new stake in Genius Sports in the third quarter worth about $1,366,000. Finally, Essex Investment Management Co. LLC bought a new stake in Genius Sports in the third quarter worth about $1,093,000. 81.91% of the stock is currently owned by 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.