Genius Sports (NYSE:GENI) Price Target Raised to $8.50 at The Goldman Sachs Group

Genius Sports (NYSE:GENI) had its price objective lifted by The Goldman Sachs Group from $7.50 to $8.50 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

GENI has been the subject of several other research reports. B. Riley boosted their target price on shares of Genius Sports from $9.00 to $10.00 and gave the stock a buy rating in a research report on Wednesday. Macquarie lowered their price objective on Genius Sports from $10.00 to $9.00 and set an outperform rating for the company in a report on Thursday, July 18th. Citigroup started coverage on Genius Sports in a report on Thursday, June 13th. They set a buy rating and a $9.00 target price on the stock. JMP Securities lifted their target price on Genius Sports from $8.00 to $9.00 and gave the stock a market outperform rating in a research report on Thursday, May 9th. Finally, Needham & Company LLC reissued a buy rating and set a $9.00 price target on shares of Genius Sports in a research report on Tuesday. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $9.45.

Genius Sports Trading Down 3.1 %

NYSE GENI traded down $0.21 during mid-day trading on Thursday, reaching $6.82. 3,617,850 shares of the company’s stock traded hands, compared to its average volume of 2,267,198. Genius Sports has a 1-year low of $4.62 and a 1-year high of $7.77. The company has a fifty day simple moving average of $5.80 and a 200-day simple moving average of $5.94. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -17.47 and a beta of 1.95.

Genius Sports (NYSE:GENI) last released its earnings results on Tuesday, August 6th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.06). The business had revenue of $95.50 million for the quarter, compared to analysts’ expectations of $94.15 million. Genius Sports had a negative net margin of 19.73% and a negative return on equity of 12.98%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.05) earnings per share. Equities research analysts forecast that Genius Sports will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Genius Sports

Several hedge funds and other institutional investors have recently modified their holdings of GENI. NewEdge Wealth LLC bought a new stake in Genius Sports in the 4th quarter valued at about $62,000. Koss Olinger Consulting LLC acquired a new stake in shares of Genius Sports in the second quarter valued at approximately $64,000. Brown Advisory Inc. bought a new stake in shares of Genius Sports during the fourth quarter valued at approximately $76,000. Virtu Financial LLC acquired a new position in shares of Genius Sports during the first quarter worth approximately $94,000. Finally, Victory Capital Management Inc. bought a new position in Genius Sports in the 4th quarter worth approximately $105,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

Genius Sports Company Profile

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.