Genius Sports (NYSE:GENI) Given New $8.00 Price Target at Wells Fargo & Company

Genius Sports (NYSE:GENI) had its target price trimmed by Wells Fargo & Company from $9.00 to $8.00 in a report released on Monday morning, MarketBeat Ratings reports. They currently have an overweight rating on the stock.

Several other brokerages also recently issued reports on GENI. B. Riley Financial restated a “buy” rating on shares of Genius Sports in a research report on Friday, May 8th. BTIG Research decreased their target price on Genius Sports from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings lowered Genius Sports from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft started coverage on Genius Sports in a report on Monday, May 11th. They set a “buy” rating and a $10.00 price target for the company. Finally, Truist Financial reduced their price target on Genius Sports from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.44.

Genius Sports Price Performance

Shares of GENI opened at $6.79 on Monday. The company’s 50-day moving average is $5.96 and its 200-day moving average is $6.27. The firm has a market capitalization of $1.67 billion, a PE ratio of -11.14 and a beta of 1.91. Genius Sports has a fifty-two week low of $3.83 and a fifty-two week high of $13.73.

Genius Sports (NYSE:GENI) last announced its earnings results on Thursday, May 7th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.12). Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.The company had revenue of $187.95 million for the quarter, compared to the consensus estimate of $170.60 million. During the same period in the previous year, the firm posted ($0.03) EPS. The business’s quarterly revenue was up 30.5% on a year-over-year basis. Analysts predict that Genius Sports will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GENI. Prelude Capital Management LLC boosted its stake in Genius Sports by 1.3% in the third quarter. Prelude Capital Management LLC now owns 92,529 shares of the company’s stock valued at $1,146,000 after buying an additional 1,181 shares in the last quarter. Cetera Investment Advisers raised its stake in Genius Sports by 10.0% during the second quarter. Cetera Investment Advisers now owns 15,288 shares of the company’s stock worth $159,000 after acquiring an additional 1,388 shares in the last quarter. SkyView Investment Advisors LLC lifted its holdings in shares of Genius Sports by 2.0% in the second quarter. SkyView Investment Advisors LLC now owns 77,289 shares of the company’s stock worth $802,000 after acquiring an additional 1,512 shares during the last quarter. Main Management ETF Advisors LLC lifted its holdings in shares of Genius Sports by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 163,647 shares of the company’s stock worth $1,803,000 after acquiring an additional 1,672 shares during the last quarter. Finally, First Dallas Securities Inc. lifted its holdings in shares of Genius Sports by 3.0% in the fourth quarter. First Dallas Securities Inc. now owns 68,500 shares of the company’s stock worth $755,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors and hedge funds 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.