Wall Street Zen upgraded shares of Genius Sports (NYSE:GENI – Free Report) from a strong sell rating to a sell rating in a report released on Saturday.
Several other research analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Genius Sports in a report on Monday, May 11th. They set a “buy” rating and a $10.00 target price on the stock. Weiss Ratings upgraded shares of Genius Sports from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 26th. BTIG Research lowered their target price on shares of Genius Sports from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Stifel Nicolaus dropped their price objective on Genius Sports from $7.00 to $5.00 and set a “hold” rating on the stock in a research note on Thursday, April 9th. Finally, Citigroup reduced their target price on shares of Genius Sports from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $11.44.
Read Our Latest Analysis on GENI
Genius Sports Trading Up 7.9%
Genius Sports (NYSE:GENI – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The company had revenue of $187.95 million for the quarter, compared to analyst estimates of $170.60 million. Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.Genius Sports’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. Sell-side analysts predict that Genius Sports will post -0.12 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC acquired a new stake in shares of Genius Sports in the 4th quarter valued at $59,851,000. Senvest Management LLC lifted its position in shares of Genius Sports by 45.1% during the 1st quarter. Senvest Management LLC now owns 13,653,724 shares of the company’s stock worth $60,486,000 after buying an additional 4,243,157 shares during the last quarter. 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 worth $34,233,000 after buying an additional 3,202,290 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in Genius Sports by 785.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,289,270 shares of the company’s stock valued at $36,248,000 after buying an additional 2,917,830 shares in the last quarter. Finally, Voss Capital LP grew its position in Genius Sports by 35.4% in the fourth quarter. Voss Capital LP now owns 11,100,000 shares of the company’s stock valued at $122,322,000 after acquiring an additional 2,900,000 shares during the last quarter. 81.91% of the stock is owned by institutional investors.
About Genius Sports
Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.
The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.
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