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

Genius Sports (NYSE:GENI)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They currently have a $12.00 price target on the stock. Needham & Company LLC’s target price points to a potential upside of 37.69% from the stock’s current price.

Several other brokerages also recently commented on GENI. Citizens Jmp downgraded Genius Sports from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. The Goldman Sachs Group upped their price target on shares of Genius Sports from $8.50 to $11.50 and gave the stock a “buy” rating in a report on Thursday, November 14th. Macquarie lifted their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Benchmark upped their target price on shares of Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, B. Riley lifted their price target 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. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.28.

Genius Sports Stock Down 0.5 %

GENI stock opened at $8.72 on Friday. The firm’s fifty day simple moving average is $9.11 and its two-hundred day simple moving average is $7.79. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of -27.23 and a beta of 2.15. Genius Sports has a twelve month low of $4.91 and a twelve month high of $10.33.

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

Hedge Funds Weigh In On Genius Sports

A number of large investors have recently bought and sold shares of GENI. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Genius Sports in the 2nd quarter valued at $67,000. Sound Income Strategies LLC purchased a new position in Genius Sports in the third quarter valued at about $78,000. Arkadios Wealth Advisors bought a new position in Genius Sports in the third quarter worth about $79,000. Captrust Financial Advisors purchased a new stake in shares of Genius Sports during the third quarter valued at about $84,000. Finally, Walleye Trading LLC boosted its holdings in shares of Genius Sports by 169.9% in the 3rd quarter. Walleye Trading LLC now owns 12,155 shares of the company’s stock valued at $95,000 after buying an additional 29,555 shares in 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.