Genius Sports (NYSE:GENI) Price Target Raised to $12.00 at Macquarie

Genius Sports (NYSE:GENI) had its price target raised by investment analysts at Macquarie from $10.00 to $12.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s price target suggests a potential upside of 27.80% from the stock’s current price.

A number of other brokerages have also weighed in on GENI. Oppenheimer boosted their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price target on shares of Genius Sports in a report on Tuesday. The Goldman Sachs Group boosted their target price on Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a research report on Thursday, August 8th. B. Riley raised their price target on shares of Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Benchmark reissued a “buy” rating and set a $10.00 price objective on shares of Genius Sports in a report on Friday, October 11th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $10.39.

Genius Sports Stock Performance

Genius Sports stock opened at $9.39 on Wednesday. The stock’s 50 day moving average is $7.62 and its 200 day moving average is $6.56. Genius Sports has a twelve month low of $4.91 and a twelve month high of $10.15.

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

Institutional Trading of Genius Sports

Several hedge funds have recently bought and sold shares of the stock. Senvest Management LLC grew its stake in shares of Genius Sports by 12.2% during the 3rd quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock valued at $59,167,000 after acquiring an additional 819,385 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Genius Sports by 10.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,520,342 shares of the company’s stock valued at $58,959,000 after purchasing an additional 691,539 shares in the last quarter. FMR LLC boosted its position in shares of Genius Sports by 53.2% in the third quarter. FMR LLC now owns 7,219,874 shares of the company’s stock worth $56,604,000 after purchasing an additional 2,507,165 shares during the period. Divisadero Street Capital Management LP purchased a new stake in shares of Genius Sports in the second quarter worth $11,233,000. Finally, Hood River Capital Management LLC raised its position in shares of Genius Sports by 6.0% during the 2nd quarter. Hood River Capital Management LLC now owns 2,026,873 shares of the company’s stock valued at $11,046,000 after purchasing an additional 114,490 shares during the period. 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.