Macquarie Issues Positive Forecast for Genius Sports (NYSE:GENI) Stock Price

Genius Sports (NYSE:GENI) had its price objective increased by Macquarie from $10.00 to $12.00 in a report issued on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

GENI has been the topic of several other research reports. The Goldman Sachs Group boosted their price target on Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a research note on Thursday, August 8th. Oppenheimer lifted their target price on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday. B. Riley increased their price objective on shares of Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Benchmark restated a “buy” rating and set a $10.00 target price on shares of Genius Sports in a report on Friday, October 11th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a report on Tuesday. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Genius Sports currently has a consensus rating of “Buy” and a consensus target price of $10.25.

Genius Sports Stock Performance

Shares of GENI stock opened at $9.55 on Wednesday. The stock’s 50 day simple moving average is $7.58 and its 200 day simple moving average is $6.54. Genius Sports has a twelve month low of $4.91 and a twelve month high of $10.15. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -29.97 and a beta of 1.98.

Genius Sports (NYSE:GENI) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.09%. The company had revenue of $120.20 million for the quarter, compared to analyst estimates of $118.94 million. During the same period last year, the business posted ($0.06) EPS. The business’s quarterly revenue was up 18.2% on a year-over-year basis. On average, analysts forecast that Genius Sports will post -0.2 EPS for the current fiscal year.

Institutional Trading of Genius Sports

A number of institutional investors have recently made changes to their positions in GENI. FMR LLC raised its stake in shares of Genius Sports by 53.2% during the 3rd quarter. FMR LLC now owns 7,219,874 shares of the company’s stock worth $56,604,000 after purchasing an additional 2,507,165 shares in the last quarter. Divisadero Street Capital Management LP acquired a new position in shares of Genius Sports in the second quarter valued at approximately $11,233,000. Massachusetts Financial Services Co. MA grew its holdings in Genius Sports by 28.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock valued at $37,217,000 after buying an additional 1,502,958 shares in the last quarter. Bank of Montreal Can bought a new position in Genius Sports during the second quarter worth about $6,575,000. Finally, Rice Hall James & Associates LLC bought a new position in shares of Genius Sports during the second quarter worth approximately $5,521,000. Institutional investors own 81.91% of the company’s stock.

About Genius Sports

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.