Genius Sports (NYSE:GENI) Price Target Raised to $11.50

Genius Sports (NYSE:GENI) had its price target upped by The Goldman Sachs Group from $8.50 to $11.50 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued research reports about the stock. Macquarie raised their price target 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. Oppenheimer lifted their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 target price on shares of Genius Sports in a report on Tuesday, November 12th. B. Riley lifted their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Benchmark lifted their target price on shares of Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $10.39.

Genius Sports Price Performance

Shares of Genius Sports stock opened at $9.11 on Thursday. The firm has a market cap of $2.09 billion, a P/E ratio of -28.47 and a beta of 1.98. The firm has a 50 day simple moving average of $7.66 and a 200 day simple moving average of $6.61. Genius Sports has a fifty-two week low of $4.91 and a fifty-two week high of $10.15.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The business had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.94 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. Genius Sports’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) earnings per share. On average, sell-side analysts expect that Genius Sports will post -0.16 EPS for the current year.

Hedge Funds Weigh In On Genius Sports

Several institutional investors and hedge funds have recently made changes to their positions in the company. M&T Bank Corp grew its holdings in shares of Genius Sports by 54.8% in the 3rd 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 3rd quarter valued at $299,000. Main Management ETF Advisors LLC bought a new stake in Genius Sports in the 3rd quarter valued at $1,010,000. XTX Topco Ltd boosted its stake 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 during the period. Finally, Wellington Management Group LLP increased its holdings in Genius Sports by 2.9% during 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 in the last quarter. 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.