Lake Street Capital Forecasts Strong Price Appreciation for Genius Sports (NYSE:GENI) Stock

Genius Sports (NYSE:GENI) had its price objective increased by equities research analysts at Lake Street Capital from $10.50 to $11.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Lake Street Capital’s price objective suggests a potential upside of 15.77% from the stock’s current price.

GENI has been the subject of several other research reports. Macquarie lifted their price objective on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Benchmark lifted their price objective on Genius Sports from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday. The Goldman Sachs Group lifted their price objective on Genius Sports from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Wednesday. Citizens Jmp cut Genius Sports from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price objective on shares of Genius Sports in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.83.

Genius Sports Price Performance

NYSE GENI opened at $9.50 on Wednesday. The company has a market cap of $2.05 billion, a P/E ratio of -29.69 and a beta of 2.14. The stock has a 50-day moving average of $9.00 and a two-hundred day moving average of $8.44. Genius Sports has a 1-year low of $4.91 and a 1-year high of $10.33.

Genius Sports (NYSE:GENI) last released its earnings results on Tuesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.16). The firm had revenue of $175.53 million during the quarter, compared to analyst estimates of $175.52 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. During the same period in the prior year, the firm earned ($0.10) earnings per share. On average, analysts anticipate that Genius Sports will post -0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

Several institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP purchased a new stake in Genius Sports in the third quarter valued at approximately $532,000. Allspring Global Investments Holdings LLC purchased a new stake in Genius Sports in the fourth quarter valued at approximately $11,292,000. D.A. Davidson & CO. lifted its stake in Genius Sports by 2.7% in the fourth quarter. D.A. Davidson & CO. now owns 53,608 shares of the company’s stock valued at $464,000 after buying an additional 1,396 shares during the last quarter. Senvest Management LLC lifted its stake in Genius Sports by 12.2% in the third quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock valued at $59,167,000 after buying an additional 819,385 shares during the last quarter. Finally, Millrace Asset Group Inc. purchased a new stake in Genius Sports in the third quarter valued at approximately $1,897,000. Hedge funds and other institutional investors 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.