Genius Sports (NYSE:GENI) Price Target Raised to $11.00 at Benchmark

Genius Sports (NYSE:GENI) had its price objective hoisted by equities research analysts at Benchmark from $10.00 to $11.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price target points to a potential upside of 17.15% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $9.00 target price on shares of Genius Sports in a research report on Tuesday. B. Riley raised their price objective on shares of Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Macquarie upped their target price on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday. Oppenheimer lifted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, The Goldman Sachs Group upped their price objective on shares of Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a research note on Thursday, August 8th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $10.39.

Genius Sports Stock Performance

GENI stock opened at $9.39 on Wednesday. The company’s 50 day moving average price is $7.62 and its 200 day moving average price is $6.56. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -29.34 and a beta of 1.98. Genius Sports has a fifty-two week low of $4.91 and a fifty-two week high of $10.15.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 earnings per share 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 14.09%. The company’s revenue was up 18.2% on a year-over-year basis. During the same period last year, the business earned ($0.06) EPS. Equities analysts forecast that Genius Sports will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Genius Sports

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Verition Fund Management LLC acquired a new stake in Genius Sports during the 3rd quarter worth approximately $1,126,000. Captrust Financial Advisors purchased a new stake in shares of Genius Sports during the third quarter worth approximately $84,000. Walleye Trading LLC lifted its holdings in shares of Genius Sports by 169.9% during the third quarter. Walleye Trading LLC now owns 12,155 shares of the company’s stock worth $95,000 after purchasing an additional 29,555 shares during the period. PEAK6 Investments LLC purchased a new position in Genius Sports in the 3rd quarter valued at $2,772,000. Finally, Millrace Asset Group Inc. acquired a new position in Genius Sports in the 3rd quarter valued at $1,897,000. Hedge funds and other 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.