Genius Sports (NYSE:GENI) Stock Rating Upgraded by Zacks Investment Research

Genius Sports (NYSE:GENIGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The firm presently has a $4.50 target price on the stock. Zacks Investment Research‘s target price suggests a potential upside of 14.80% from the company’s previous close.

According to Zacks, “Genius Sports Group provides digital sports content, technology and integrity services. Genius Sports Group, formerly known as dMY Technology Group Inc. II., is based in London. “

A number of other analysts also recently commented on GENI. Needham & Company LLC reduced their price objective on Genius Sports from $13.00 to $9.00 and set a “buy” rating for the company in a research report on Monday, March 14th. Credit Suisse Group reduced their price objective on Genius Sports from $15.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, March 14th. UBS Group cut their target price on Genius Sports from $9.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, March 17th. Craig Hallum cut their target price on Genius Sports from $22.00 to $17.00 in a research report on Monday, March 14th. Finally, B. Riley cut their target price on Genius Sports from $17.00 to $13.00 in a research report on Monday, March 14th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $15.65.

Shares of GENI stock traded down $0.12 during mid-day trading on Tuesday, reaching $3.92. The stock had a trading volume of 1,725,898 shares, compared to its average volume of 1,804,871. The firm’s 50 day simple moving average is $5.10 and its 200 day simple moving average is $9.52. Genius Sports has a one year low of $3.85 and a one year high of $25.18. The firm has a market cap of $780.52 million, a PE ratio of -0.60 and a beta of 1.82.

Genius Sports (NYSE:GENIGet Rating) last announced its quarterly earnings data on Friday, March 11th. The company reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.07). Genius Sports had a negative return on equity of 52.87% and a negative net margin of 225.61%. The firm had revenue of $84.00 million during the quarter, compared to the consensus estimate of $80.72 million. The company’s quarterly revenue was up 78.7% on a year-over-year basis. As a group, sell-side analysts expect that Genius Sports will post -0.44 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Exos Asset Management LLC increased its stake in shares of Genius Sports by 37.5% in the 4th quarter. Exos Asset Management LLC now owns 17,697 shares of the company’s stock valued at $134,000 after buying an additional 4,827 shares during the period. Wells Fargo & Company MN increased its stake in shares of Genius Sports by 25.7% in the 4th quarter. Wells Fargo & Company MN now owns 64,023 shares of the company’s stock valued at $487,000 after buying an additional 13,108 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Genius Sports by 279.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 646,148 shares of the company’s stock valued at $4,911,000 after buying an additional 475,799 shares during the period. Toroso Investments LLC acquired a new stake in shares of Genius Sports in the 4th quarter valued at $127,000. Finally, Ulland Investment Advisors LLC acquired a new stake in shares of Genius Sports in the 4th quarter valued at $46,000. 45.38% of the stock is owned by hedge funds and other institutional investors.

About Genius Sports (Get Rating)

Genius Sports Limited develops and sells 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.

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