Genius Sports (NYSE:GENI) Stock Price Up 5.4% – Still a Buy?

Genius Sports Limited (NYSE:GENI)’s share price shot up 5.4% on Tuesday . The stock traded as high as $9.85 and last traded at $9.84. 1,618,141 shares were traded during mid-day trading, a decline of 32% from the average session volume of 2,394,955 shares. The stock had previously closed at $9.34.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $9.00 price target on shares of Genius Sports in a research note on Tuesday, November 12th. Benchmark increased their price target on shares of Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Citigroup increased their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group increased their price target on shares of Genius Sports from $8.50 to $11.50 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Macquarie increased 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, November 13th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $10.72.

Genius Sports Price Performance

The firm has a market cap of $2.24 billion, a P/E ratio of -30.63 and a beta of 1.98. The company’s 50 day moving average is $7.87 and its two-hundred day moving average is $6.79.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The company had revenue of $120.20 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.06) EPS. Research analysts predict that Genius Sports Limited will post -0.16 EPS for the current year.

Hedge Funds Weigh In On Genius Sports

A number of hedge funds have recently made changes to their positions in GENI. Koss Olinger Consulting LLC acquired a new position in Genius Sports in the second quarter worth about $64,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Genius Sports in the 2nd quarter valued at approximately $67,000. Sound Income Strategies LLC acquired a new position in shares of Genius Sports in the 3rd quarter worth approximately $78,000. Arkadios Wealth Advisors bought a new position in shares of Genius Sports during the 3rd quarter worth approximately $79,000. Finally, Captrust Financial Advisors acquired a new stake in Genius Sports in the 3rd quarter valued at $84,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

Genius Sports Company Profile

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.