B. Riley Has Weak Outlook for Genius Sports FY2024 Earnings

Genius Sports Limited (NYSE:GENI) – Equities researchers at B. Riley reduced their FY2024 EPS estimates for shares of Genius Sports in a research note issued on Wednesday, November 13th. B. Riley analyst D. Bain now forecasts that the company will earn ($0.21) per share for the year, down from their prior forecast of ($0.20). B. Riley has a “Buy” rating and a $12.00 price target on the stock. The consensus estimate for Genius Sports’ current full-year earnings is ($0.16) per share. B. Riley also issued estimates for Genius Sports’ Q1 2025 earnings at ($0.07) EPS, Q3 2025 earnings at $0.00 EPS and FY2025 earnings at ($0.04) EPS.

Genius Sports (NYSE:GENI) last announced its earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.94 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. Genius Sports’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.06) EPS.

Several other equities analysts have also weighed in on the stock. Oppenheimer raised their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group raised their price objective on shares of Genius Sports from $8.50 to $11.50 and gave the company a “buy” rating in a research report on Thursday, November 14th. Macquarie raised their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Needham & Company LLC restated a “buy” rating and set a $9.00 price objective on shares of Genius Sports in a research report on Tuesday, November 12th. Finally, Benchmark raised their price objective on shares of Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $10.39.

Genius Sports Trading Up 2.8 %

NYSE:GENI opened at $9.13 on Monday. Genius Sports has a twelve month low of $4.91 and a twelve month high of $10.15. The company has a 50-day moving average of $7.72 and a 200-day moving average of $6.66. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -28.53 and a beta of 1.98.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of Genius Sports by 2.9% in the third quarter. Wellington Management Group LLP now owns 8,292,521 shares of the company’s stock worth $65,013,000 after acquiring an additional 230,209 shares in the last quarter. Senvest Management LLC boosted its holdings in shares of Genius Sports by 12.2% during the third quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock worth $59,167,000 after purchasing an additional 819,385 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Genius Sports by 10.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,520,342 shares of the company’s stock worth $58,959,000 after purchasing an additional 691,539 shares during the period. FMR LLC boosted its holdings in shares of Genius Sports by 53.2% during the third quarter. FMR LLC now owns 7,219,874 shares of the company’s stock worth $56,604,000 after purchasing an additional 2,507,165 shares during the period. Finally, Portolan Capital Management LLC boosted its holdings in shares of Genius Sports by 9.4% during the third quarter. Portolan Capital Management LLC now owns 3,170,891 shares of the company’s stock worth $24,860,000 after purchasing an additional 272,545 shares during the period. 81.91% of the stock is owned by hedge funds and other institutional investors.

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.