Freedom Capital Upgrades Genius Sports (NYSE:GENI) to Strong-Buy

Genius Sports (NYSE:GENI) was upgraded by analysts at Freedom Capital to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research analysts have also weighed in on the company. Roth Capital set a $10.00 price objective on Genius Sports in a report on Friday, May 8th. Needham & Company LLC reduced their target price on shares of Genius Sports from $14.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, May 8th. B. Riley Financial reissued a “buy” rating on shares of Genius Sports in a research note on Friday, May 8th. Wells Fargo & Company lowered their price target on shares of Genius Sports from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, BTIG Research cut their price objective on shares of Genius Sports from $10.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.44.

Genius Sports Trading Down 1.1%

NYSE GENI opened at $6.68 on Monday. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -10.94 and a beta of 1.91. Genius Sports has a twelve month low of $3.83 and a twelve month high of $13.73. The stock has a 50-day moving average of $6.00 and a 200 day moving average of $6.24.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Senvest Management LLC increased its position in shares of Genius Sports by 45.1% during the first quarter. Senvest Management LLC now owns 13,653,724 shares of the company’s stock worth $60,486,000 after acquiring an additional 4,243,157 shares during the period. Wellington Management Group LLP boosted its holdings in Genius Sports by 17.9% in the third quarter. Wellington Management Group LLP now owns 13,513,537 shares of the company’s stock valued at $167,298,000 after purchasing an additional 2,051,503 shares during the period. Voss Capital LP grew its stake in Genius Sports by 35.4% during the 4th quarter. Voss Capital LP now owns 11,100,000 shares of the company’s stock worth $122,322,000 after purchasing an additional 2,900,000 shares in the last quarter. Stephens Investment Management Group LLC grew its stake in Genius Sports by 35.1% during the 1st quarter. Stephens Investment Management Group LLC now owns 7,598,359 shares of the company’s stock worth $33,661,000 after purchasing an additional 1,974,043 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in Genius Sports by 1.7% during the 4th quarter. Westfield Capital Management Co. LP now owns 5,951,203 shares of the company’s stock worth $65,582,000 after purchasing an additional 101,120 shares in the last quarter. Hedge funds and other institutional investors own 81.91% of the company’s stock.

About Genius Sports

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.