Genius Sports’ (GENI) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Genius Sports (NYSE:GENI) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $16.00 price target on the stock.

A number of other equities analysts have also recently issued reports on the stock. Benchmark boosted their price objective on shares of Genius Sports from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Arete started coverage on Genius Sports in a research note on Wednesday, July 9th. They issued a “buy” rating and a $15.00 target price on the stock. Wall Street Zen downgraded Genius Sports from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Guggenheim set a $16.00 price target on Genius Sports and gave the company a “buy” rating in a research report on Thursday, August 7th. Finally, Roth Capital started coverage on Genius Sports in a research report on Friday, September 12th. They issued a “buy” rating and a $16.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.22.

Genius Sports Price Performance

Shares of Genius Sports stock opened at $10.19 on Tuesday. Genius Sports has a one year low of $7.22 and a one year high of $13.73. The business’s 50 day simple moving average is $12.19 and its two-hundred day simple moving average is $11.23. The stock has a market capitalization of $2.19 billion, a P/E ratio of -21.68 and a beta of 1.84.

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

Institutional Investors Weigh In On Genius Sports

Several hedge funds have recently bought and sold shares of GENI. Global Alpha Capital Management Ltd. bought a new position in shares of Genius Sports during the second quarter valued at approximately $43,552,000. Invesco Ltd. grew its stake in shares of Genius Sports by 3,584.2% in 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. The Manufacturers Life Insurance Company bought a new position in Genius Sports during the 1st quarter valued at approximately $28,280,000. Geode Capital Management LLC purchased a new position in Genius Sports during the second quarter valued at $27,312,000. Finally, Millennium Management LLC raised its stake in Genius Sports by 1,579.0% during the first quarter. Millennium Management LLC now owns 2,766,206 shares of the company’s stock valued at $27,690,000 after buying an additional 2,601,453 shares during the last quarter. 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.