Genius Sports (NYSE:GENI) Price Target Raised to $12.00

Genius Sports (NYSE:GENI) had its price objective raised by BTIG Research from $11.00 to $12.00 in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. They currently have a buy rating on the stock.

GENI has been the subject of several other reports. Guggenheim started coverage on Genius Sports in a research note on Tuesday, March 18th. They set a “buy” rating and a $12.00 target price for the company. B. Riley assumed coverage on Genius Sports in a research note on Tuesday, March 18th. They set a “buy” rating for the company. Benchmark reaffirmed a “buy” rating and issued a $12.00 target price on shares of Genius Sports in a research report on Thursday, April 17th. JMP Securities reissued a “market outperform” rating and set a $11.00 price target on shares of Genius Sports in a research report on Monday, January 27th. Finally, Needham & Company LLC set a $13.00 price target on shares of Genius Sports in a research note on Wednesday, March 5th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Genius Sports currently has an average rating of “Moderate Buy” and an average target price of $12.19.

Genius Sports Stock Up 0.8 %

Genius Sports stock opened at $10.55 on Tuesday. The firm has a fifty day moving average of $9.64 and a 200-day moving average of $8.99. Genius Sports has a 52-week low of $4.91 and a 52-week high of $11.16. The firm has a market capitalization of $2.27 billion, a P/E ratio of -32.97 and a beta of 1.98.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Tuesday, March 4th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). The company had revenue of $175.53 million for the quarter, compared to analyst estimates of $175.52 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. During the same quarter in the prior year, the firm earned ($0.10) EPS. On average, research analysts expect that Genius Sports will post -0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GENI. D.A. Davidson & CO. boosted its holdings in shares of Genius Sports by 2.7% during the fourth quarter. D.A. Davidson & CO. now owns 53,608 shares of the company’s stock valued at $464,000 after acquiring an additional 1,396 shares during the period. ProShare Advisors LLC boosted its stake in Genius Sports by 19.4% during the 4th quarter. ProShare Advisors LLC now owns 17,132 shares of the company’s stock valued at $148,000 after purchasing an additional 2,787 shares during the period. Steward Partners Investment Advisory LLC grew its position in Genius Sports by 39.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company’s stock worth $105,000 after purchasing an additional 3,429 shares during the last quarter. State of Wyoming grew its position in Genius Sports by 8.3% in the 4th quarter. State of Wyoming now owns 45,630 shares of the company’s stock worth $395,000 after purchasing an additional 3,495 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Genius Sports by 27.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company’s stock valued at $143,000 after purchasing an additional 3,548 shares during the period. Institutional investors and hedge funds 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.