Genius Sports (NYSE:GENI) Price Target Cut to $10.00 by Analysts at Truist Financial

Genius Sports (NYSE:GENI) had its target price lowered by Truist Financial from $13.00 to $10.00 in a report issued on Tuesday morning, Marketbeat reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also commented on GENI. B. Riley Financial reaffirmed a “buy” rating on shares of Genius Sports in a report on Friday, February 6th. Needham & Company LLC reduced their target price on shares of Genius Sports from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. BTIG Research reduced their target price on shares of Genius Sports from $16.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. UBS Group reaffirmed a “buy” rating on shares of Genius Sports in a report on Wednesday, March 4th. Finally, Oppenheimer reduced their target price on shares of Genius Sports from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.50.

Genius Sports Stock Performance

GENI stock opened at $4.66 on Tuesday. Genius Sports has a 52 week low of $3.83 and a 52 week high of $13.73. The firm’s fifty day moving average is $5.15 and its 200 day moving average is $8.52. The firm has a market cap of $1.15 billion, a P/E ratio of -10.83 and a beta of 2.08.

Genius Sports (NYSE:GENI) last released its earnings results on Thursday, March 5th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.10). Genius Sports had a negative net margin of 16.67% and a negative return on equity of 13.66%. The business had revenue of $240.50 million for the quarter, compared to the consensus estimate of $234.94 million. During the same period in the prior year, the business posted ($0.12) EPS. Genius Sports’s revenue for the quarter was up 37.0% on a year-over-year basis.

Institutional Investors Weigh In On Genius Sports

Institutional investors have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new stake in Genius Sports during the 3rd quarter valued at $65,000. Strs Ohio boosted its position in Genius Sports by 178.9% during the 3rd quarter. Strs Ohio now owns 5,300 shares of the company’s stock valued at $66,000 after buying an additional 3,400 shares during the period. UMB Bank n.a. purchased a new stake in Genius Sports during the 4th quarter valued at $63,000. Bessemer Group Inc. boosted its position in Genius Sports by 1,163.1% during the 3rd quarter. Bessemer Group Inc. now owns 7,010 shares of the company’s stock valued at $87,000 after buying an additional 6,455 shares during the period. Finally, CWM LLC boosted its position in Genius Sports by 106.3% during the 3rd quarter. CWM LLC now owns 8,209 shares of the company’s stock valued at $102,000 after buying an additional 4,229 shares during the period. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Genius Sports Company Profile

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.