Genius Sports (NYSE:GENI) Stock Price Expected to Rise, Benchmark Analyst Says

Genius Sports (NYSE:GENI) had its target price lifted by Benchmark from $10.00 to $11.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on GENI. Oppenheimer increased their price objective on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price objective on shares of Genius Sports in a research report on Tuesday, November 12th. The Goldman Sachs Group increased their target price on Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Macquarie increased their target price on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, B. Riley increased their target price on Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, Genius Sports has an average rating of “Buy” and an average price target of $10.39.

Genius Sports Trading Down 3.0 %

Genius Sports stock opened at $9.11 on Wednesday. Genius Sports has a twelve month low of $4.91 and a twelve month high of $10.15. The stock has a 50 day moving average of $7.66 and a two-hundred day moving average of $6.60. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -28.47 and a beta of 1.98.

Genius Sports (NYSE:GENI) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The company had revenue of $120.20 million during the quarter, compared to analysts’ expectations of $118.94 million. During the same period last year, the firm earned ($0.06) EPS. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. Equities analysts predict that Genius Sports will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Genius Sports

Several hedge funds have recently bought and sold shares of the company. M&T Bank Corp increased its stake in Genius Sports by 54.8% in the 3rd quarter. M&T Bank Corp now owns 136,536 shares of the company’s stock valued at $1,070,000 after purchasing an additional 48,306 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Genius Sports in the 3rd quarter valued at approximately $299,000. Main Management ETF Advisors LLC purchased a new position in Genius Sports in the 3rd quarter valued at approximately $1,010,000. XTX Topco Ltd increased its stake in Genius Sports by 221.0% in the 3rd quarter. XTX Topco Ltd now owns 70,535 shares of the company’s stock valued at $553,000 after purchasing an additional 48,563 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Genius Sports by 2.9% in the 3rd quarter. Wellington Management Group LLP now owns 8,292,521 shares of the company’s stock valued at $65,013,000 after purchasing an additional 230,209 shares in the last quarter. 81.91% of the stock is owned by hedge funds and other institutional investors.

About Genius Sports

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.