Genius Sports (NYSE:GENI) Earns “Buy” Rating from Needham & Company LLC

Genius Sports (NYSE:GENI)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They currently have a $12.00 price target on the stock. Needham & Company LLC’s target price points to a potential upside of 43.88% from the company’s current price.

A number of other brokerages have also commented on GENI. B. Riley raised their price target on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $11.00 target price on shares of Genius Sports in a research report on Monday, January 27th. Citigroup boosted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Benchmark increased their price target on shares of Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group lifted their price objective on Genius Sports from $8.50 to $11.50 and gave the company a “buy” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Genius Sports has an average rating of “Moderate Buy” and a consensus target price of $11.69.

Genius Sports Trading Down 3.9 %

Shares of NYSE GENI opened at $8.34 on Tuesday. The stock’s 50-day moving average is $8.96 and its 200 day moving average is $8.41. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -26.06 and a beta of 2.15. Genius Sports has a 1-year low of $4.91 and a 1-year high of $10.33.

Genius Sports (NYSE:GENI) last posted its quarterly earnings results on Tuesday, March 4th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.07). Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. On average, analysts forecast that Genius Sports will post -0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GENI. Emerald Mutual Fund Advisers Trust bought a new position in Genius Sports in the 4th quarter valued at approximately $58,000. Captrust Financial Advisors purchased a new position in shares of Genius Sports in the third quarter worth $84,000. Walleye Trading LLC lifted its holdings in shares of Genius Sports by 169.9% during the third quarter. Walleye Trading LLC now owns 12,155 shares of the company’s stock valued at $95,000 after purchasing an additional 29,555 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Genius Sports by 39.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company’s stock valued at $105,000 after buying an additional 3,429 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new stake in Genius Sports in the 4th quarter worth about $129,000. Institutional investors own 81.91% of the company’s stock.

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.