Genius Sports (NYSE:GENI) Price Target Raised to $12.00

Genius Sports (NYSE:GENI) had its price objective boosted by Citigroup from $10.00 to $12.00 in a report issued on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. Macquarie boosted their price target on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. B. Riley boosted their target price on shares of Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Oppenheimer raised their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Benchmark boosted their price objective on shares of Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $9.00 target price on shares of Genius Sports in a report on Tuesday, November 12th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $10.72.

Genius Sports Price Performance

GENI opened at $10.04 on Wednesday. The stock has a market capitalization of $2.30 billion, a PE ratio of -31.38 and a beta of 1.98. Genius Sports has a 12-month low of $4.91 and a 12-month high of $10.15. The firm’s fifty day moving average price is $8.00 and its 200 day moving average price is $6.87.

Genius Sports (NYSE:GENI) last issued its earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The business had revenue of $120.20 million for the quarter, compared to analyst estimates of $118.94 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.06) EPS. On average, equities research analysts forecast that Genius Sports will post -0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Genius Sports

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC raised its stake in Genius Sports by 53.2% during the 3rd quarter. FMR LLC now owns 7,219,874 shares of the company’s stock valued at $56,604,000 after acquiring an additional 2,507,165 shares in the last quarter. Divisadero Street Capital Management LP acquired a new stake in Genius Sports in the second quarter worth about $11,233,000. Massachusetts Financial Services Co. MA grew its position in Genius Sports by 28.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock valued at $37,217,000 after buying an additional 1,502,958 shares in the last quarter. Bank of Montreal Can acquired a new position in Genius Sports during the 2nd quarter valued at about $6,575,000. Finally, Rice Hall James & Associates LLC bought a new stake in shares of Genius Sports during the 2nd quarter worth about $5,521,000. 81.91% of the stock is currently 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.