Wells Fargo & Company Lowers Genius Sports (NYSE:GENI) Price Target to $8.00

Genius Sports (NYSE:GENI) had its target price cut by analysts at Wells Fargo & Company from $9.00 to $8.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 19.83% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. BTIG Research decreased their price target on Genius Sports from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Truist Financial cut their price objective on Genius Sports from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Roth Capital set a $10.00 price objective on shares of Genius Sports in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Genius Sports in a research report on Monday, May 11th. They issued a “buy” rating and a $10.00 target price on the stock. Finally, Citigroup lowered their target price on shares of Genius Sports from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.44.

Genius Sports Stock Performance

GENI stock opened at $6.68 on Monday. Genius Sports has a one year low of $3.83 and a one year high of $13.73. The firm has a market cap of $1.64 billion, a PE ratio of -10.94 and a beta of 1.91. The firm’s 50 day moving average price is $6.00 and its 200-day moving average price is $6.24.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The business had revenue of $187.95 million during the quarter, compared to analysts’ expectations of $170.60 million. Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.The company’s revenue was up 30.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.03) earnings per share. Equities research analysts predict that Genius Sports will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Genius Sports

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Senvest Management LLC grew its stake in shares of Genius Sports by 45.1% in the first quarter. Senvest Management LLC now owns 13,653,724 shares of the company’s stock worth $60,486,000 after acquiring an additional 4,243,157 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Genius Sports by 17.9% in the third quarter. Wellington Management Group LLP now owns 13,513,537 shares of the company’s stock valued at $167,298,000 after acquiring an additional 2,051,503 shares in the last quarter. Voss Capital LP raised its stake in shares of Genius Sports by 35.4% in the fourth quarter. Voss Capital LP now owns 11,100,000 shares of the company’s stock valued at $122,322,000 after acquiring an additional 2,900,000 shares in the last quarter. Stephens Investment Management Group LLC boosted its holdings in Genius Sports by 35.1% in the first quarter. Stephens Investment Management Group LLC now owns 7,598,359 shares of the company’s stock valued at $33,661,000 after purchasing an additional 1,974,043 shares during the period. Finally, Westfield Capital Management Co. LP boosted its holdings in Genius Sports by 1.7% in the fourth quarter. Westfield Capital Management Co. LP now owns 5,951,203 shares of the company’s stock valued at $65,582,000 after purchasing an additional 101,120 shares during the period. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Genius Sports Company Profile

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.