Macquarie Reiterates Outperform Rating for Genius Sports (NYSE:GENI)

Genius Sports (NYSE:GENI)‘s stock had its “outperform” rating reaffirmed by analysts at Macquarie in a research note issued on Wednesday,Benzinga reports. They presently have a $15.00 price objective on the stock. Macquarie’s target price points to a potential upside of 47.20% from the stock’s previous close.

Several other research analysts also recently commented on GENI. B. Riley boosted their price objective on shares of Genius Sports from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. JMP Securities lifted their price target on Genius Sports from $13.00 to $15.00 and gave the company a “market outperform” rating in a research note on Wednesday, September 3rd. Northland Capmk raised Genius Sports to a “strong-buy” rating in a report on Friday, July 25th. Northland Securities began coverage on Genius Sports in a research note on Friday, July 25th. They issued an “outperform” rating and a $14.00 price objective on the stock. Finally, The Goldman Sachs Group upped their price objective 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. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Genius Sports has a consensus rating of “Moderate Buy” and an average target price of $14.22.

Genius Sports Trading Down 7.4%

NYSE:GENI opened at $10.19 on Wednesday. The stock has a 50 day simple moving average of $12.19 and a 200 day simple moving average of $11.23. The stock has a market cap of $2.19 billion, a P/E ratio of -21.68 and a beta of 1.84. Genius Sports has a 1-year low of $7.22 and a 1-year high of $13.73.

Genius Sports (NYSE:GENI) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.18). Genius Sports had a negative return on equity of 14.39% and a negative net margin of 19.71%.The firm had revenue of $166.28 million for the quarter, compared to the consensus estimate of $156.24 million. Genius Sports has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Genius Sports will post -0.1 EPS for the current year.

Hedge Funds Weigh In On Genius Sports

Institutional investors have recently added to or reduced their stakes in the business. Global Alpha Capital Management Ltd. bought a new position in shares of Genius Sports during the 2nd quarter worth approximately $43,552,000. Invesco Ltd. lifted its position in shares of Genius Sports by 3,584.2% during the 2nd quarter. Invesco Ltd. now owns 3,291,635 shares of the company’s stock valued at $34,233,000 after acquiring an additional 3,202,290 shares during the period. The Manufacturers Life Insurance Company bought a new position in Genius Sports during the first quarter worth $28,280,000. Geode Capital Management LLC acquired a new stake in Genius Sports in the second quarter worth $27,312,000. Finally, Millennium Management LLC increased its stake in Genius Sports by 1,579.0% in the first quarter. Millennium Management LLC now owns 2,766,206 shares of the company’s stock valued at $27,690,000 after purchasing an additional 2,601,453 shares in the last quarter. 81.91% of the stock is owned by institutional investors and hedge funds.

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.