Genius Sports (NYSE:GENI) Given New $15.00 Price Target at Benchmark

Genius Sports (NYSE:GENI) had its price target increased by equities research analysts at Benchmark from $14.00 to $15.00 in a research note issued to investors on Monday, Marketbeat reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s target price would suggest a potential upside of 17.05% from the company’s previous close.

GENI has been the subject of a number of other reports. Northland Securities initiated coverage on shares of Genius Sports in a research note on Friday, July 25th. They issued an “outperform” rating and a $14.00 price objective for the company. Citigroup reiterated a “buy” rating and issued a $16.00 target price (up from $12.00) on shares of Genius Sports in a report on Tuesday, August 12th. Wall Street Zen downgraded shares of Genius Sports from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Arete assumed coverage on shares of Genius Sports in a report on Wednesday, July 9th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Arete Research upgraded shares of Genius Sports to a “strong-buy” rating in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Genius Sports has an average rating of “Buy” and an average price target of $14.00.

Genius Sports Stock Down 0.9%

NYSE:GENI traded down $0.1150 during mid-day trading on Monday, reaching $12.8150. The company’s stock had a trading volume of 1,888,651 shares, compared to its average volume of 4,278,894. Genius Sports has a 1 year low of $6.72 and a 1 year high of $13.10. The stock has a fifty day moving average of $10.82 and a 200-day moving average of $10.14. The firm has a market capitalization of $2.76 billion, a PE ratio of -41.31 and a beta of 1.86.

Genius Sports (NYSE:GENI) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.17). Genius Sports had a negative return on equity of 11.48% and a negative net margin of 13.94%.The business had revenue of $118.72 million during the quarter, compared to analysts’ expectations of $118.28 million. During the same period last year, the company earned ($0.09) earnings per share. The firm’s revenue was up 24.4% compared to the same quarter last year. On average, analysts expect that Genius Sports will post -0.1 earnings per share for the current year.

Genius Sports declared that its board has initiated a stock buyback plan on Tuesday, May 6th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Genius Sports

Several hedge funds have recently modified their holdings of the stock. Greenwood Capital Associates LLC boosted its position in Genius Sports by 1.8% in the second quarter. Greenwood Capital Associates LLC now owns 52,692 shares of the company’s stock valued at $548,000 after buying an additional 937 shares during the last quarter. Victory Capital Management Inc. boosted its position in Genius Sports by 4.6% in the first quarter. Victory Capital Management Inc. now owns 24,854 shares of the company’s stock valued at $249,000 after buying an additional 1,085 shares during the last quarter. Cetera Investment Advisers boosted its position in Genius Sports by 10.0% in the second quarter. Cetera Investment Advisers now owns 15,288 shares of the company’s stock valued at $159,000 after buying an additional 1,388 shares during the last quarter. Pacer Advisors Inc. boosted its position in Genius Sports by 61.5% in the first quarter. Pacer Advisors Inc. now owns 3,754 shares of the company’s stock valued at $38,000 after buying an additional 1,430 shares during the last quarter. Finally, SkyView Investment Advisors LLC boosted its position in Genius Sports by 2.0% in the second quarter. SkyView Investment Advisors LLC now owns 77,289 shares of the company’s stock valued at $802,000 after buying an additional 1,512 shares during the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.

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.