Genius Sports (NYSE:GENI) Rating Reiterated by Benchmark

Genius Sports (NYSE:GENI)‘s stock had its “buy” rating restated by stock analysts at Benchmark in a report issued on Thursday, Benzinga reports. They currently have a $10.00 target price on the stock. Benchmark’s price target points to a potential upside of 22.85% from the stock’s current price.

GENI has been the subject of a number of other research reports. The Goldman Sachs Group increased their target price on shares of Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Citigroup started coverage on shares of Genius Sports in a research note on Thursday, June 13th. They issued a “buy” rating and a $9.00 target price for the company. Macquarie decreased their price target on Genius Sports from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday, July 18th. B. Riley lifted their price objective on Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $9.00 target price on shares of Genius Sports in a report on Tuesday, August 6th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $9.45.

Genius Sports Stock Down 1.6 %

Shares of GENI opened at $8.14 on Thursday. The company has a 50-day moving average price of $7.31 and a two-hundred day moving average price of $6.09. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of -20.87 and a beta of 1.96. Genius Sports has a 12 month low of $4.62 and a 12 month high of $8.64.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.06). Genius Sports had a negative net margin of 21.93% and a negative return on equity of 15.30%. The company had revenue of $95.50 million during the quarter, compared to analyst estimates of $94.15 million. During the same period in the prior year, the firm earned ($0.05) EPS. Genius Sports’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities research analysts expect that Genius Sports will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

Several institutional investors have recently modified their holdings of the business. Sumitomo Mitsui Trust Holdings Inc. boosted its stake 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 acquiring an additional 1,702,602 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its stake in shares of Genius Sports by 25.0% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 8,503,563 shares of the company’s stock valued at $48,555,000 after purchasing an additional 1,702,602 shares during the period. Wellington Management Group LLP boosted its position in shares of Genius Sports by 383.6% in the 4th quarter. Wellington Management Group LLP now owns 7,277,462 shares of the company’s stock worth $44,975,000 after purchasing an additional 5,772,540 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Genius Sports by 28.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock worth $37,217,000 after purchasing an additional 1,502,958 shares during the period. Finally, Ophir Asset Management Pty Ltd bought a new stake in Genius Sports in the fourth quarter valued at about $21,961,000. 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.