Genius Sports (NYSE:GENI) Price Target Raised to $13.00

Genius Sports (NYSE:GENI) had its price target raised by Wells Fargo & Company from $10.00 to $13.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities research analysts have also issued reports on GENI. BTIG Research lifted their price target on shares of Genius Sports from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday. JMP Securities lifted their price objective on Genius Sports from $13.00 to $15.00 and gave the stock a “market outperform” rating in a research note on Wednesday, September 3rd. UBS Group upped their price target on shares of Genius Sports from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, September 10th. B. Riley lifted their price objective on shares of Genius Sports from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Finally, Benchmark increased their price target on Genius Sports from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $14.90.

Genius Sports Price Performance

Shares of NYSE:GENI opened at $10.83 on Friday. The company’s 50 day simple moving average is $10.98 and its 200 day simple moving average is $11.18. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of -23.04 and a beta of 1.94. Genius Sports has a 1 year low of $8.15 and a 1 year high of $13.73.

Genius Sports (NYSE:GENI) last released its earnings results 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%. As a group, analysts anticipate that Genius Sports will post -0.1 EPS for the current fiscal year.

Institutional Trading of Genius Sports

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