Genius Sports Limited (NYSE:GENI) Receives $12.19 Consensus Target Price from Brokerages

Shares of Genius Sports Limited (NYSE:GENI) have earned a consensus rating of “Moderate Buy” from the thirteen analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $12.19.

Several equities analysts have weighed in on the stock. Craig Hallum set a $15.00 price target on shares of Genius Sports in a report on Tuesday, March 4th. BTIG Research lifted their price objective on shares of Genius Sports from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, April 22nd. JMP Securities restated a “market outperform” rating and issued a $11.00 price target on shares of Genius Sports in a research report on Monday, January 27th. Benchmark restated a “buy” rating and issued a $12.00 price target on shares of Genius Sports in a research report on Thursday, April 17th. Finally, B. Riley restated a “buy” rating on shares of Genius Sports in a research report on Wednesday, May 7th.

Genius Sports Trading Down 0.7%

GENI opened at $9.86 on Monday. The company has a market cap of $2.12 billion, a price-to-earnings ratio of -30.82 and a beta of 1.96. The company’s 50 day moving average is $10.11 and its 200 day moving average is $9.40. Genius Sports has a 12-month low of $5.03 and a 12-month high of $11.40.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The business had revenue of $143.99 million for the quarter, compared to the consensus estimate of $143.31 million. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. The company’s revenue for the quarter was up 20.3% on a year-over-year basis. As a group, analysts predict that Genius Sports will post -0.1 EPS for the current fiscal year.

Genius Sports announced that its Board of Directors has initiated a share buyback plan on Tuesday, May 6th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 4.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Genius Sports

Large investors have recently made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Genius Sports during the first quarter valued at $37,000. Pacer Advisors Inc. lifted its stake in Genius Sports by 61.5% in the first quarter. Pacer Advisors Inc. now owns 3,754 shares of the company’s stock worth $38,000 after acquiring an additional 1,430 shares during the period. Emerald Mutual Fund Advisers Trust purchased a new stake in Genius Sports in the fourth quarter worth about $58,000. IPG Investment Advisors LLC bought a new position in Genius Sports in the first quarter worth about $107,000. Finally, Park National Corp OH bought a new position in Genius Sports in the first quarter worth about $107,000. 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.