Genius Sports (NYSE:GENI) Price Target Raised to $11.50

Genius Sports (NYSE:GENI) had its target price upped by The Goldman Sachs Group from $8.50 to $11.50 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

GENI has been the topic of a number of other research reports. Benchmark lifted their target price on shares of Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday. B. Riley boosted their price objective on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday. Macquarie increased their target price on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday. Oppenheimer boosted their price target on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price objective on shares of Genius Sports in a report on Tuesday, November 12th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $10.39.

Genius Sports Stock Performance

NYSE GENI opened at $9.11 on Thursday. The business’s fifty day moving average is $7.66 and its 200 day moving average is $6.60. Genius Sports has a fifty-two week low of $4.91 and a fifty-two week high of $10.15. The company has a market capitalization of $2.09 billion, a PE ratio of -28.47 and a beta of 1.98.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $118.94 million. During the same period in the previous year, the company posted ($0.06) EPS. The firm’s revenue was up 18.2% on a year-over-year basis. On average, sell-side analysts forecast that Genius Sports will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GENI. M&T Bank Corp raised its stake in Genius Sports by 54.8% during the third 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 bought a new stake in shares of Genius Sports in the 3rd quarter worth about $299,000. Main Management ETF Advisors LLC purchased a new stake in shares of Genius Sports during the 3rd quarter valued at about $1,010,000. XTX Topco Ltd raised its position in shares of Genius Sports by 221.0% during the 3rd quarter. XTX Topco Ltd now owns 70,535 shares of the company’s stock valued at $553,000 after buying an additional 48,563 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of 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 acquiring an additional 230,209 shares during the last quarter. 81.91% of the stock is currently owned by institutional investors.

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.