Guggenheim Initiates Coverage on Genius Sports (NYSE:GENI)

Equities researchers at Guggenheim assumed coverage on shares of Genius Sports (NYSE:GENI) in a research note issued on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $12.00 price target on the stock. Guggenheim’s price objective would suggest a potential upside of 26.78% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Benchmark raised their target price on shares of Genius Sports from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Needham & Company LLC set a $13.00 target price on Genius Sports in a report on Wednesday, March 5th. Citigroup boosted their target price on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. JMP Securities restated a “market outperform” rating and set a $11.00 price target on shares of Genius Sports in a report on Monday, January 27th. Finally, The Goldman Sachs Group upped their price objective on Genius Sports from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Genius Sports currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.23.

Genius Sports Trading Up 3.0 %

NYSE:GENI opened at $9.47 on Tuesday. The stock has a 50-day moving average price of $9.09 and a 200 day moving average price of $8.53. The stock has a market capitalization of $2.04 billion, a P/E ratio of -29.58 and a beta of 2.14. Genius Sports has a 12-month low of $4.91 and a 12-month high of $10.33.

Genius Sports (NYSE:GENI) last posted its quarterly earnings results on Tuesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.16). The business had revenue of $175.53 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company earned ($0.10) earnings per share. On average, research analysts predict that Genius Sports will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GENI. Polar Asset Management Partners Inc. purchased a new stake in shares of Genius Sports in the fourth quarter valued at $8,080,000. Castleark Management LLC purchased a new stake in Genius Sports in the 4th quarter worth about $3,962,000. Two Sigma Investments LP purchased a new stake in Genius Sports in the 4th quarter worth about $227,000. State of Wyoming lifted its stake in Genius Sports by 8.3% in the fourth quarter. State of Wyoming now owns 45,630 shares of the company’s stock worth $395,000 after purchasing an additional 3,495 shares during the last quarter. Finally, Sycale Advisors NY LLC purchased a new position in shares of Genius Sports during the fourth quarter valued at approximately $12,113,000. 81.91% of the stock is owned by hedge funds and other institutional investors.

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.