Brokerages Set Genius Sports Limited (NYSE:GENI) Price Target at $14.22

Shares of Genius Sports Limited (NYSE:GENI) have been given a consensus recommendation of “Buy” by the twenty brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $14.2222.

A number of equities analysts have recently commented on the stock. Truist Financial assumed coverage on shares of Genius Sports in a research report on Tuesday, July 1st. They set a “buy” rating and a $14.00 target price on the stock. Benchmark lifted their price target on shares of Genius Sports from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. UBS Group lifted their price target on shares of Genius Sports from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Northland Securities assumed coverage on shares of Genius Sports in a report on Friday, July 25th. They set an “outperform” rating and a $14.00 price objective on the stock. Finally, The Goldman Sachs Group raised their price target on shares of Genius Sports from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th.

Genius Sports Price Performance

Shares of NYSE GENI opened at $12.75 on Friday. The company has a market cap of $2.74 billion, a P/E ratio of -41.11 and a beta of 1.87. Genius Sports has a 1 year low of $6.72 and a 1 year high of $13.73. The firm has a 50-day simple moving average of $12.31 and a two-hundred day simple moving average of $10.81.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.17). The firm had revenue of $118.72 million during the quarter, compared to the consensus estimate of $118.28 million. Genius Sports had a negative return on equity of 11.48% and a negative net margin of 13.94%.The firm’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.09) EPS. As a group, equities research analysts expect that Genius Sports will post -0.1 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Osaic Holdings Inc. raised its position 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 worth $111,000 after acquiring an additional 4,477 shares during the period. Orion Porfolio Solutions LLC acquired a new position in shares of Genius Sports in the second quarter worth about $112,000. Nomura Holdings Inc. acquired a new position in shares of Genius Sports in the second quarter worth about $5,200,000. Castleark Management LLC raised its position in shares of Genius Sports by 5.7% in the second quarter. Castleark Management LLC now owns 677,620 shares of the company’s stock worth $7,047,000 after acquiring an additional 36,420 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of Genius Sports by 6,252.4% in the second quarter. Tower Research Capital LLC TRC now owns 28,586 shares of the company’s stock worth $297,000 after acquiring an additional 28,136 shares during the period. Institutional investors and hedge funds 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.