Macquarie Issues Positive Forecast for Genius Sports (NYSE:GENI) Stock Price

Genius Sports (NYSE:GENI) had its price target hoisted by Macquarie from $10.00 to $12.00 in a research note published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a report on Thursday, August 8th. Oppenheimer boosted 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. Benchmark reaffirmed a “buy” rating and set a $10.00 price objective on shares of Genius Sports in a research note on Friday, October 11th. B. Riley boosted their target price on Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $9.00 price target on shares of Genius Sports in a research report on Tuesday, November 12th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $10.39.

Genius Sports Stock Down 3.0 %

GENI opened at $9.11 on Wednesday. The business’s fifty day simple moving average is $7.66 and its 200 day simple moving average is $6.60. Genius Sports has a 52 week low of $4.91 and a 52 week high of $10.15. The stock has a market cap of $2.09 billion, a PE ratio of -28.47 and a beta of 1.98.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. The firm had revenue of $120.20 million for the quarter, compared to analyst estimates of $118.94 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The company’s revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.06) EPS. As a group, equities analysts anticipate that Genius Sports will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. M&T Bank Corp increased its stake in shares of Genius Sports by 54.8% during the third quarter. M&T Bank Corp now owns 136,536 shares of the company’s stock valued at $1,070,000 after buying an additional 48,306 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Genius Sports in the third quarter valued at $299,000. Main Management ETF Advisors LLC purchased a new position in Genius Sports during the 3rd quarter valued at $1,010,000. XTX Topco Ltd raised its holdings in Genius Sports by 221.0% in the 3rd quarter. XTX Topco Ltd now owns 70,535 shares of the company’s stock worth $553,000 after purchasing an additional 48,563 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Genius Sports by 2.9% in the 3rd quarter. Wellington Management Group LLP now owns 8,292,521 shares of the company’s stock worth $65,013,000 after purchasing an additional 230,209 shares during the period. 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.