Genius Sports (NYSE:GENI) Given New $16.00 Price Target at Benchmark

Genius Sports (NYSE:GENI) had its target price raised by Benchmark from $15.00 to $16.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently issued reports on GENI. Wall Street Zen cut shares of Genius Sports from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Northland Securities assumed coverage on shares of Genius Sports in a research note on Friday, July 25th. They set an “outperform” rating and a $14.00 price objective on the stock. The Goldman Sachs Group increased their price target on shares of Genius Sports from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Macquarie increased their price objective on shares of Genius Sports from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Finally, B. Riley increased their target price on shares of Genius Sports from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Genius Sports presently has a consensus rating of “Buy” and an average target price of $14.12.

Genius Sports Stock Performance

NYSE GENI opened at $12.58 on Wednesday. Genius Sports has a 1 year low of $6.72 and a 1 year high of $13.73. The stock has a market capitalization of $2.71 billion, a P/E ratio of -40.56 and a beta of 1.87. The business’s fifty day moving average is $11.81 and its two-hundred day moving average is $10.53.

Genius Sports (NYSE:GENI) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $118.72 million for the quarter, compared to analysts’ expectations of $118.28 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. On average, research analysts forecast that Genius Sports will post -0.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GENI. Northern Trust Corp lifted its stake in shares of Genius Sports by 103.3% in the fourth quarter. Northern Trust Corp now owns 63,510 shares of the company’s stock valued at $549,000 after buying an additional 32,271 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Genius Sports in the fourth quarter valued at $2,353,000. Bank of America Corp DE lifted its stake in shares of Genius Sports by 41.7% in the fourth quarter. Bank of America Corp DE now owns 312,289 shares of the company’s stock valued at $2,701,000 after buying an additional 91,888 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of Genius Sports by 1,953.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,066,005 shares of the company’s stock valued at $9,221,000 after buying an additional 1,014,083 shares in the last quarter. Finally, Graham Capital Management L.P. lifted its stake in shares of Genius Sports by 52.0% in the fourth quarter. Graham Capital Management L.P. now owns 52,575 shares of the company’s stock valued at $455,000 after buying an additional 17,986 shares in the last quarter. 81.91% of the stock is owned by institutional investors.

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.