Genius Sports (NYSE:GENI) Coverage Initiated by Analysts at Guggenheim

Investment analysts at Guggenheim initiated coverage on shares of Genius Sports (NYSE:GENI) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $12.00 price target on the stock. Guggenheim’s target price indicates a potential upside of 26.78% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. B. Riley assumed coverage on Genius Sports in a research report on Tuesday. They set a “buy” rating for the company. Craig Hallum set a $15.00 price objective on Genius Sports in a report on Tuesday, March 4th. Citizens Jmp cut shares of Genius Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Citigroup raised their target price on shares of Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $11.00 price target on shares of Genius Sports in a research report on Monday, January 27th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Genius Sports currently has an average rating of “Moderate Buy” and a consensus price target of $12.23.

Genius Sports Price Performance

GENI stock opened at $9.47 on Tuesday. Genius Sports has a 12 month low of $4.91 and a 12 month high of $10.33. The firm’s 50-day moving average is $9.09 and its 200 day moving average is $8.53. The company has a market capitalization of $2.04 billion, a PE ratio of -29.58 and a beta of 2.14.

Genius Sports (NYSE:GENI) last issued its earnings results on Tuesday, March 4th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The company had revenue of $175.53 million during the quarter, compared to the consensus estimate of $175.52 million. During the same quarter in the prior year, the company earned ($0.10) earnings per share. Sell-side analysts forecast that Genius Sports will post -0.1 EPS for the current fiscal year.

Institutional Trading of Genius Sports

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Polar Asset Management Partners Inc. purchased a new position in Genius Sports during the 4th quarter worth $8,080,000. Castleark Management LLC acquired a new stake in Genius Sports in the fourth quarter worth about $3,962,000. Two Sigma Investments LP purchased a new stake in shares of Genius Sports during the fourth quarter worth about $227,000. State of Wyoming increased its holdings in shares of Genius Sports by 8.3% during the fourth quarter. State of Wyoming now owns 45,630 shares of the company’s stock valued at $395,000 after acquiring an additional 3,495 shares in the last quarter. Finally, Sycale Advisors NY LLC purchased a new position in shares of Genius Sports in the 4th quarter valued at approximately $12,113,000. 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.