Genius Sports (NYSE:GENI) Rating Increased to Sell at Wall Street Zen

Genius Sports (NYSE:GENI) was upgraded by research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other analysts have also recently issued research reports about the company. Citigroup cut their target price on Genius Sports from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Genius Sports in a research report on Monday, May 11th. They issued a “buy” rating and a $10.00 target price for the company. Truist Financial dropped their price target on Genius Sports from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. BTIG Research cut their price target on Genius Sports from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Finally, Needham & Company LLC reduced their price objective on Genius Sports from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.50.

Genius Sports Price Performance

NYSE GENI opened at $6.31 on Friday. The firm’s fifty day moving average price is $5.91 and its 200 day moving average price is $6.33. Genius Sports has a 12 month low of $3.83 and a 12 month high of $13.73. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -10.34 and a beta of 1.91.

Genius Sports (NYSE:GENI) last announced 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). 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 analysts’ expectations of $170.60 million. During the same period last year, the firm earned ($0.03) earnings per share. Genius Sports’s revenue was up 30.5% on a year-over-year basis. As a group, sell-side analysts forecast that Genius Sports will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On Genius Sports

Several hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC acquired a new position in Genius Sports in the 1st quarter valued at about $25,000. UMB Bank n.a. acquired a new stake in Genius Sports during the 4th quarter worth approximately $63,000. Victory Financial Group LLC purchased a new position in shares of Genius Sports in the 4th quarter valued at approximately $113,000. Lexington Hill Partners LLC acquired a new position in shares of Genius Sports in the second quarter valued at approximately $64,000. Finally, Osaic Holdings Inc. increased its holdings in shares of Genius Sports by 72.6% in the second quarter. Osaic Holdings Inc. now owns 10,645 shares of the company’s stock valued at $111,000 after purchasing an additional 4,477 shares during the period. Institutional investors and hedge funds own 81.91% of the company’s stock.

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.