Needham & Company LLC Reiterates Buy Rating for Genius Sports (NYSE:GENI)

Genius Sports (NYSE:GENI)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They currently have a $12.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 23.39% from the company’s previous close.

A number of other brokerages have also recently commented on GENI. The Goldman Sachs Group lifted their price target on Genius Sports from $8.50 to $11.50 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Macquarie upped their target price on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. JMP Securities restated a “market outperform” rating and set a $11.00 target price on shares of Genius Sports in a report on Monday, January 27th. Oppenheimer upped their target price on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Benchmark upped their target price on Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.83.

Genius Sports Price Performance

Shares of Genius Sports stock opened at $9.73 on Tuesday. The business’s 50 day simple moving average is $8.99 and its two-hundred day simple moving average is $8.43. The stock has a market capitalization of $2.09 billion, a P/E ratio of -30.39 and a beta of 2.15. Genius Sports has a one year low of $4.91 and a one year high of $10.33.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Tuesday, March 4th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). The company had revenue of $175.53 million during the quarter, compared to analysts’ expectations of $175.52 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. During the same period last year, the firm earned ($0.10) earnings per share. Sell-side analysts expect that Genius Sports will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Genius Sports

A number of institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors raised its holdings in Genius Sports by 14.2% in the fourth quarter. Capital Research Global Investors now owns 12,952,320 shares of the company’s stock worth $112,038,000 after purchasing an additional 1,610,078 shares in the last quarter. Wellington Management Group LLP raised its holdings in Genius Sports by 2.9% in the third quarter. Wellington Management Group LLP now owns 8,292,521 shares of the company’s stock worth $65,013,000 after purchasing an additional 230,209 shares in the last quarter. Granahan Investment Management LLC raised its holdings in Genius Sports by 0.8% in the fourth quarter. Granahan Investment Management LLC now owns 7,963,691 shares of the company’s stock worth $68,886,000 after purchasing an additional 64,752 shares in the last quarter. Voss Capital LP raised its holdings in Genius Sports by 16.7% in the fourth quarter. Voss Capital LP now owns 7,923,432 shares of the company’s stock worth $68,538,000 after purchasing an additional 1,134,029 shares in the last quarter. Finally, Senvest Management LLC raised its holdings in Genius Sports by 12.2% in the third quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock worth $59,167,000 after purchasing an additional 819,385 shares in the last quarter. Institutional investors own 81.91% of the company’s stock.

Genius Sports Company Profile

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.