Genius Sports (NYSE:GENI) Price Target Raised to $11.50 at The Goldman Sachs Group

Genius Sports (NYSE:GENI) had its price objective hoisted by The Goldman Sachs Group from $8.50 to $11.50 in a report issued on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other analysts have also recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price objective on shares of Genius Sports in a research note on Tuesday. Macquarie boosted their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday. Benchmark upped their price target on shares of Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday. B. Riley upped their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Oppenheimer upped their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Genius Sports presently has a consensus rating of “Buy” and a consensus price target of $10.39.

Genius Sports Stock Performance

Genius Sports stock traded down $0.30 during midday trading on Thursday, reaching $9.09. 3,365,035 shares of the company’s stock were exchanged, compared to its average volume of 2,388,439. Genius Sports has a 52 week low of $4.91 and a 52 week high of $10.15. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -28.97 and a beta of 1.98. The stock’s 50-day simple moving average is $7.62 and its 200 day simple moving average is $6.56.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.06. The business had revenue of $120.20 million during the quarter, compared to analysts’ expectations of $118.94 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.06) earnings per share. Research analysts forecast that Genius Sports will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Genius Sports

A number of hedge funds have recently modified their holdings of the company. FMR LLC lifted its stake in shares of Genius Sports by 53.2% in the third quarter. FMR LLC now owns 7,219,874 shares of the company’s stock worth $56,604,000 after buying an additional 2,507,165 shares in the last quarter. Divisadero Street Capital Management LP purchased a new position in shares of Genius Sports during the second quarter valued at approximately $11,233,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Genius Sports by 28.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock valued at $37,217,000 after purchasing an additional 1,502,958 shares during the last quarter. Bank of Montreal Can purchased a new stake in Genius Sports during the second quarter valued at approximately $6,575,000. Finally, Rice Hall James & Associates LLC purchased a new stake in Genius Sports during the second quarter valued at approximately $5,521,000. Hedge funds and other 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.