Genius Sports (NYSE:GENI) Given New $7.00 Price Target at Stifel Nicolaus

Genius Sports (NYSE:GENI) had its target price increased by Stifel Nicolaus from $5.00 to $7.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

Several other equities analysts also recently commented on the company. Weiss Ratings downgraded Genius Sports from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 17th. Deutsche Bank Aktiengesellschaft assumed coverage on Genius Sports in a report on Monday, May 11th. They set a “buy” rating and a $10.00 price target on the stock. Truist Financial lowered their price objective 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. Citigroup dropped their price objective on shares of Genius Sports from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Needham & Company LLC cut their target price on shares of Genius Sports from $14.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $11.56.

Genius Sports Trading Down 4.4%

GENI opened at $6.36 on Wednesday. The company’s 50 day moving average is $6.05 and its 200-day moving average is $6.20. Genius Sports has a 1-year low of $3.83 and a 1-year high of $13.73. The company has a market cap of $1.57 billion, a P/E ratio of -10.42 and a beta of 1.91.

Genius Sports (NYSE:GENI) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $170.60 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. Genius Sports’s revenue for the quarter was up 30.5% compared to the same quarter last year. On average, equities analysts forecast that Genius Sports will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GENI. Royal Bank of Canada increased its holdings in Genius Sports by 17.6% in the first quarter. Royal Bank of Canada now owns 44,339 shares of the company’s stock worth $444,000 after purchasing an additional 6,623 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Genius Sports by 10.0% during the 2nd quarter. Cetera Investment Advisers now owns 15,288 shares of the company’s stock worth $159,000 after buying an additional 1,388 shares during the period. Prudential Financial Inc. acquired a new stake in shares of Genius Sports during the 2nd quarter worth approximately $266,000. Invesco Ltd. grew its position in shares of Genius Sports by 3,584.2% during the 2nd quarter. Invesco Ltd. now owns 3,291,635 shares of the company’s stock worth $34,233,000 after buying an additional 3,202,290 shares during the period. Finally, Frontier Capital Management Co. LLC bought a new stake in shares of Genius Sports in the 2nd quarter valued at $14,220,000. 81.91% of the stock is owned by institutional investors.

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.