Genius Sports’ (GENI) Buy Rating Reiterated at Needham & Company LLC

Genius Sports (NYSE:GENI)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research report issued on Thursday, Benzinga reports. They presently have a $9.00 target price on the stock. Needham & Company LLC’s price objective indicates a potential upside of 66.98% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. Benchmark reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Genius Sports in a research report on Thursday, March 7th. The Goldman Sachs Group assumed coverage on Genius Sports in a research report on Tuesday, April 16th. They set a “buy” rating and a $7.50 price target on the stock. Oppenheimer reissued an “outperform” rating and issued a $10.00 price objective on shares of Genius Sports in a research report on Thursday, April 4th. JMP Securities reiterated a “market outperform” rating and issued a $8.00 price target on shares of Genius Sports in a research note on Thursday, March 7th. Finally, B. Riley began coverage on Genius Sports in a research note on Friday, April 5th. They set a “buy” rating and a $9.00 price target on the stock. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Genius Sports has a consensus rating of “Buy” and an average price target of $9.25.

Genius Sports Stock Performance

Shares of GENI opened at $5.39 on Thursday. The stock has a market capitalization of $1.25 billion, a PE ratio of -13.47 and a beta of 1.98. The company has a 50 day moving average price of $5.71 and a 200-day moving average price of $5.88. Genius Sports has a fifty-two week low of $4.34 and a fifty-two week high of $8.45.

Genius Sports (NYSE:GENI) last announced its earnings results on Wednesday, March 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.10). The company had revenue of $127.20 million for the quarter, compared to the consensus estimate of $126.53 million. Genius Sports had a negative net margin of 20.71% and a negative return on equity of 12.67%. The firm’s revenue was up 20.8% compared to the same quarter last year. During the same period last year, the business posted ($0.18) EPS. Equities research analysts forecast that Genius Sports will post -0.13 EPS for the current year.

Hedge Funds Weigh In On Genius Sports

Several institutional investors and hedge funds have recently modified their holdings of the stock. Oppenheimer & Co. Inc. lifted its holdings in Genius Sports by 58.2% in the first quarter. Oppenheimer & Co. Inc. now owns 81,770 shares of the company’s stock valued at $467,000 after acquiring an additional 30,089 shares during the period. SG Americas Securities LLC acquired a new position in shares of Genius Sports in the 1st quarter valued at $119,000. Nikko Asset Management Americas Inc. boosted its holdings in Genius Sports by 25.0% during the first quarter. Nikko Asset Management Americas Inc. now owns 8,503,563 shares of the company’s stock worth $48,555,000 after buying an additional 1,702,602 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Genius Sports by 25.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,503,563 shares of the company’s stock valued at $48,555,000 after buying an additional 1,702,602 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Genius Sports by 383.6% in the fourth quarter. Wellington Management Group LLP now owns 7,277,462 shares of the company’s stock worth $44,975,000 after acquiring an additional 5,772,540 shares during the period. Institutional investors and hedge funds 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.