Genius Sports (NYSE:GENI) Upgraded at Freedom Capital

Freedom Capital upgraded shares of Genius Sports (NYSE:GENI) to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Roth Capital set a $10.00 price objective on Genius Sports in a research report on Friday, May 8th. BTIG Research dropped their target price on Genius Sports from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Wells Fargo & Company reduced their price target on shares of Genius Sports from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Monday. Citigroup decreased their price target on shares of Genius Sports from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Needham & Company LLC lowered their price objective on shares of Genius Sports from $14.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Genius Sports presently has an average rating of “Moderate Buy” and a consensus price target of $11.56.

Genius Sports Stock Down 4.4%

GENI opened at $6.36 on Monday. The stock has a fifty day moving average of $6.05 and a 200-day moving average of $6.20. The firm has a market capitalization of $1.57 billion, a P/E ratio of -10.42 and a beta of 1.91. Genius Sports has a 12-month low of $3.83 and a 12-month high of $13.73.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in Genius Sports by 79.5% during the third quarter. JPMorgan Chase & Co. now owns 1,293,172 shares of the company’s stock valued at $16,009,000 after acquiring an additional 572,607 shares in the last quarter. Quent Capital LLC bought a new stake in Genius Sports in the fourth quarter worth approximately $2,840,000. UBS Group AG grew its position in Genius Sports by 45.1% in the fourth quarter. UBS Group AG now owns 3,974,964 shares of the company’s stock worth $43,804,000 after acquiring an additional 1,235,352 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Genius Sports by 65.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,909,945 shares of the company’s stock worth $17,321,000 after purchasing an additional 1,549,816 shares during the last quarter. Finally, IFC Advisors LLC increased its stake in shares of Genius Sports by 23.2% during the 1st quarter. IFC Advisors LLC now owns 3,583,833 shares of the company’s stock worth $15,876,000 after purchasing an additional 676,034 shares during the last quarter. 81.91% of the stock is owned by institutional investors and hedge funds.

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.