Genius Sports (NYSE:GENI) Earns Buy Rating from Analysts at B. Riley

B. Riley initiated coverage on shares of Genius Sports (NYSE:GENI) in a research note issued to investors on Tuesday. The firm issued a buy rating on the stock.

GENI has been the topic of several other reports. Citigroup raised their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Lake Street Capital lifted their target price on shares of Genius Sports from $10.50 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Craig Hallum set a $15.00 target price on shares of Genius Sports in a research report on Tuesday, March 4th. JMP Securities reiterated a “market outperform” rating and set a $11.00 target price on shares of Genius Sports in a research report on Monday, January 27th. Finally, Benchmark lifted their target price on shares of Genius Sports from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.23.

Genius Sports Price Performance

NYSE GENI opened at $9.37 on Tuesday. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -29.27 and a beta of 2.14. The company’s fifty day moving average is $9.10 and its two-hundred day moving average is $8.55. Genius Sports has a 52-week low of $4.91 and a 52-week high of $10.33.

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

Hedge Funds Weigh In On Genius Sports

Several institutional investors have recently added to or reduced their stakes in GENI. Divisadero Street Capital Management LP lifted its holdings in Genius Sports by 32,386.5% during the 4th quarter. Divisadero Street Capital Management LP now owns 3,551,751 shares of the company’s stock valued at $30,723,000 after purchasing an additional 3,540,818 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in Genius Sports during the 4th quarter valued at about $24,712,000. FMR LLC lifted its holdings in Genius Sports by 53.2% during the 3rd quarter. FMR LLC now owns 7,219,874 shares of the company’s stock valued at $56,604,000 after purchasing an additional 2,507,165 shares during the last quarter. Loomis Sayles & Co. L P bought a new position in Genius Sports during the 4th quarter valued at about $15,553,000. Finally, Capital Research Global Investors lifted its holdings in Genius Sports by 14.2% during the 4th quarter. Capital Research Global Investors now owns 12,952,320 shares of the company’s stock valued at $112,038,000 after purchasing an additional 1,610,078 shares during the last quarter. 81.91% of the stock is 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.