Wells Fargo & Company Forecasts Strong Price Appreciation for Genius Sports (NYSE:GENI) Stock

Genius Sports (NYSE:GENI) had its price objective upped by research analysts at Wells Fargo & Company from $10.00 to $13.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 20.04% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Roth Capital started coverage on shares of Genius Sports in a report on Friday, September 12th. They issued a “buy” rating and a $16.00 price target for the company. B. Riley upped their price target 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. Benchmark raised their price objective on Genius Sports from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. JMP Securities boosted their price target on shares of Genius Sports from $13.00 to $15.00 and gave the company a “market outperform” rating in a report on Wednesday, September 3rd. Finally, Citigroup reiterated an “outperform” rating on shares of Genius Sports in a report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.90.

Genius Sports Trading Down 3.6%

NYSE GENI opened at $10.83 on Friday. The stock has a market cap of $2.33 billion, a PE ratio of -23.04 and a beta of 1.94. The stock’s 50 day moving average is $10.98 and its 200 day moving average is $11.17. Genius Sports has a 12 month low of $8.15 and a 12 month high of $13.73.

Genius Sports (NYSE:GENI) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.18). The company had revenue of $166.28 million for the quarter, compared to the consensus estimate of $156.24 million. Genius Sports had a negative net margin of 19.71% and a negative return on equity of 14.39%. On average, analysts forecast that Genius Sports will post -0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Genius Sports

Several large investors have recently made changes to their positions in GENI. Invesco Ltd. raised its holdings in Genius Sports by 22.1% in the 1st quarter. Invesco Ltd. now owns 89,345 shares of the company’s stock worth $894,000 after purchasing an additional 16,187 shares during the period. Entropy Technologies LP purchased a new stake in shares of Genius Sports during the 1st quarter valued at approximately $906,000. Russell Investments Group Ltd. lifted its stake in shares of Genius Sports by 70.0% in the 1st quarter. Russell Investments Group Ltd. now owns 683,034 shares of the company’s stock valued at $6,837,000 after purchasing an additional 281,171 shares during the last quarter. Cookson Peirce & Co. Inc. lifted its position in Genius Sports by 4.1% in the first quarter. Cookson Peirce & Co. Inc. now owns 321,100 shares of the company’s stock valued at $3,214,000 after buying an additional 12,547 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its stake in Genius Sports by 19.0% during the first quarter. Raymond James Financial Inc. now owns 1,697,016 shares of the company’s stock worth $16,987,000 after buying an additional 271,383 shares during the period. 81.91% of the stock is currently owned by institutional investors and hedge funds.

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.