Genius Sports (NYSE:GENI) Coverage Initiated by Analysts at Guggenheim

Guggenheim initiated coverage on shares of Genius Sports (NYSE:GENI) in a report published on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $12.00 price objective on the stock.

GENI has been the subject of a number of other research reports. Benchmark boosted their target price on Genius Sports from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Craig Hallum set a $15.00 price objective on shares of Genius Sports in a report on Tuesday, March 4th. B. Riley assumed coverage on shares of Genius Sports in a research note on Tuesday. They issued a “buy” rating for the company. Citizens Jmp cut shares of Genius Sports from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Finally, Needham & Company LLC set a $13.00 price target on shares of Genius Sports in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.23.

Genius Sports Stock Performance

Genius Sports stock opened at $10.05 on Tuesday. Genius Sports has a fifty-two week low of $4.91 and a fifty-two week high of $10.33. The firm’s fifty day moving average price is $9.14 and its 200-day moving average price is $8.56. The stock has a market cap of $2.16 billion, a P/E ratio of -31.39 and a beta of 2.14.

Genius Sports (NYSE:GENI) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The firm had revenue of $175.53 million for the quarter, compared to analysts’ expectations of $175.52 million. During the same quarter in the previous year, the business earned ($0.10) EPS. On average, analysts predict that Genius Sports will post -0.1 earnings per share for the current year.

Institutional Investors Weigh In On Genius Sports

A number of large investors have recently added to or reduced their stakes in GENI. Capital Research Global Investors raised its stake in shares of Genius Sports by 14.2% during the fourth quarter. Capital Research Global Investors now owns 12,952,320 shares of the company’s stock valued at $112,038,000 after acquiring an additional 1,610,078 shares during the last quarter. 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 valued at $65,013,000 after purchasing an additional 230,209 shares during the period. Granahan Investment Management LLC raised its position in Genius Sports by 0.8% during the 4th quarter. Granahan Investment Management LLC now owns 7,963,691 shares of the company’s stock valued at $68,886,000 after purchasing an additional 64,752 shares during the last quarter. Voss Capital LP lifted its holdings in Genius Sports by 16.7% in the 4th quarter. Voss Capital LP now owns 7,923,432 shares of the company’s stock worth $68,538,000 after buying an additional 1,134,029 shares during the period. Finally, Senvest Management LLC lifted its holdings in Genius Sports by 12.2% in the 3rd quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock worth $59,167,000 after buying an additional 819,385 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.