Citigroup Has Lowered Expectations for Genius Sports (NYSE:GENI) Stock Price

Genius Sports (NYSE:GENI) had its target price decreased by investment analysts at Citigroup from $11.00 to $9.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 97.63% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. B. Riley Financial reiterated a “buy” rating on shares of Genius Sports in a research report on Friday, February 6th. Guggenheim lowered their target price on shares of Genius Sports from $17.00 to $12.00 and set a “buy” rating for the company in a report on Friday, February 6th. Wells Fargo & Company dropped their price target on shares of Genius Sports from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, March 5th. New Street Research set a $17.00 price target on shares of Genius Sports in a report on Thursday, December 4th. Finally, UBS Group reissued a “buy” rating on shares of Genius Sports in a research report on Wednesday, March 4th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.74.

Genius Sports Price Performance

NYSE:GENI opened at $4.55 on Thursday. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -10.59 and a beta of 2.08. Genius Sports has a 1 year low of $4.19 and a 1 year high of $13.73. The business has a 50 day simple moving average of $6.01 and a 200-day simple moving average of $9.26.

Genius Sports (NYSE:GENI) last released its earnings results on Thursday, March 5th. The company reported ($0.08) earnings per share 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 company 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 firm posted ($0.12) EPS. The business’s revenue for the quarter was up 37.0% compared to the same quarter last year. As a group, analysts expect that Genius Sports will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its holdings in Genius Sports by 17.6% during the 1st quarter. Royal Bank of Canada now owns 44,339 shares of the company’s stock valued at $444,000 after buying an additional 6,623 shares in the last quarter. Cetera Investment Advisers grew its stake in Genius Sports by 10.0% in the 2nd 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. Legal & General Group Plc increased its position in shares of Genius Sports by 20.0% during the second quarter. Legal & General Group Plc now owns 526,798 shares of the company’s stock worth $5,476,000 after acquiring an additional 87,737 shares during the period. Rhumbline Advisers purchased a new position in shares of Genius Sports during the second quarter worth approximately $3,152,000. Finally, Prudential Financial Inc. bought a new stake in shares of Genius Sports during the second quarter valued at approximately $266,000. 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.