Genius Sports Limited (NYSE:GENI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Genius Sports Limited (NYSE:GENI) has earned a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, fifteen have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $14.75.

Several brokerages recently issued reports on GENI. Citizens Jmp increased their price objective on Genius Sports from $15.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Thursday. BTIG Research upped their target price on Genius Sports from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company assumed coverage on shares of Genius Sports in a research report on Tuesday, November 18th. They issued an “equal weight” rating and a $10.00 price target for the company. The Goldman Sachs Group raised their price target on shares of Genius Sports from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Zacks Research lowered shares of Genius Sports from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 5th.

Genius Sports Stock Performance

Genius Sports stock opened at $11.23 on Friday. Genius Sports has a 52 week low of $8.15 and a 52 week high of $13.73. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -23.89 and a beta of 1.94. The company has a 50 day moving average price of $11.02 and a 200 day moving average price of $11.15.

Genius Sports (NYSE:GENI) last released its earnings results on Tuesday, November 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.18). The business had revenue of $166.28 million during the quarter, compared to analysts’ expectations of $156.24 million. Genius Sports had a negative net margin of 19.71% and a negative return on equity of 14.39%. Equities analysts forecast that Genius Sports will post -0.1 earnings per share for the current fiscal year.

Institutional Trading of Genius Sports

Several hedge funds and other institutional investors have recently modified their holdings of the company. Global Alpha Capital Management Ltd. acquired a new stake in Genius Sports during the second quarter valued at $43,552,000. Invesco Ltd. increased its position in Genius Sports by 3,584.2% in the 2nd quarter. Invesco Ltd. now owns 3,291,635 shares of the company’s stock worth $34,233,000 after purchasing an additional 3,202,290 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Genius Sports during the 1st quarter worth about $28,280,000. Westfield Capital Management Co. LP raised its stake in shares of Genius Sports by 82.7% during the 3rd quarter. Westfield Capital Management Co. LP now owns 5,850,083 shares of the company’s stock worth $72,424,000 after purchasing an additional 2,647,948 shares in the last quarter. Finally, Geode Capital Management LLC acquired a new stake in shares of Genius Sports during the 2nd quarter valued at about $27,312,000. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

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.