Genius Sports (NYSE:GENI) Earns “Buy” Rating from Needham & Company LLC

Genius Sports (NYSE:GENI)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They presently have a $16.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 47.74% from the stock’s previous close.

A number of other research firms also recently weighed in on GENI. Weiss Ratings restated a “sell (d-)” rating on shares of Genius Sports in a research note on Monday. Citizens Jmp raised their target price on shares of Genius Sports from $15.00 to $17.00 and gave the company a “market outperform” rating in a research report on Thursday. The Goldman Sachs Group upped 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. Macquarie reissued an “outperform” rating and set a $15.00 price objective on shares of Genius Sports in a report on Wednesday, November 5th. Finally, UBS Group upped their target price on Genius Sports from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.90.

Genius Sports Stock Performance

Shares of GENI stock opened at $10.83 on Thursday. Genius Sports has a fifty-two week low of $8.15 and a fifty-two week high of $13.73. The stock’s fifty day moving average price is $10.98 and its two-hundred day moving average price is $11.16. The company has a market cap of $2.33 billion, a PE ratio of -23.04 and a beta of 1.94.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.18). The business had revenue of $166.28 million for the quarter, compared to the consensus estimate of $156.24 million. Genius Sports had a negative return on equity of 14.39% and a negative net margin of 19.71%. On average, equities analysts predict that Genius Sports will post -0.1 EPS for the current fiscal year.

Institutional Trading of Genius Sports

Large investors have recently bought and sold shares of the business. Hodges Capital Management Inc. increased its holdings in Genius Sports by 351.7% in the second quarter. Hodges Capital Management Inc. now owns 971,235 shares of the company’s stock worth $10,101,000 after purchasing an additional 756,235 shares in the last quarter. Moody National Bank Trust Division grew its position in shares of Genius Sports by 11.8% during the 2nd quarter. Moody National Bank Trust Division now owns 661,714 shares of the company’s stock worth $6,882,000 after buying an additional 69,600 shares during the period. Entropy Technologies LP bought a new stake in shares of Genius Sports in the 1st quarter valued at $906,000. Quantbot Technologies LP lifted its position in shares of Genius Sports by 1,259.8% during the 1st quarter. Quantbot Technologies LP now owns 397,484 shares of the company’s stock valued at $3,979,000 after acquiring an additional 368,254 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Genius Sports by 25.4% during the first quarter. Wellington Management Group LLP now owns 10,244,434 shares of the company’s stock worth $102,547,000 after acquiring an additional 2,076,590 shares in the last quarter. 81.91% of the stock is currently owned by institutional investors and hedge funds.

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.