Genius Sports (NYSE:GENI) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Genius Sports (NYSE:GENI) had its price target lifted by Stifel Nicolaus from $5.00 to $7.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 8.63% from the company’s previous close.

Several other brokerages have also recently issued reports on GENI. Wells Fargo & Company dropped their price objective on shares of Genius Sports from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Monday. Truist Financial lowered their target price on shares of Genius Sports from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Needham & Company LLC lowered their target price on shares of Genius Sports from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Citigroup dropped their price target on shares of Genius Sports from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, B. Riley Financial reissued a “buy” rating on shares of Genius Sports in a report on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Genius Sports presently has a consensus rating of “Moderate Buy” and an average price target of $11.56.

Genius Sports Trading Up 1.2%

Genius Sports stock opened at $6.44 on Wednesday. Genius Sports has a twelve month low of $3.83 and a twelve month high of $13.73. The stock has a 50 day moving average of $6.09 and a two-hundred day moving average of $6.17. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -10.56 and a beta of 1.91.

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

Institutional Investors Weigh In On Genius Sports

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in Genius Sports by 79.5% in the third quarter. JPMorgan Chase & Co. now owns 1,293,172 shares of the company’s stock valued at $16,009,000 after buying an additional 572,607 shares in the last quarter. Quent Capital LLC purchased a new stake in shares of Genius Sports during the 4th quarter worth approximately $2,840,000. UBS Group AG boosted its stake in shares of Genius Sports by 45.1% during the 4th 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. grew its holdings in shares of Genius Sports by 65.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,909,945 shares of the company’s stock worth $17,321,000 after acquiring an additional 1,549,816 shares during the period. Finally, IFC Advisors LLC grew its holdings in shares of Genius Sports by 23.2% in the 1st quarter. IFC Advisors LLC now owns 3,583,833 shares of the company’s stock worth $15,876,000 after acquiring an additional 676,034 shares during the period. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

About Genius Sports

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.