Genius Sports’ (GENI) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Genius Sports (NYSE:GENI) in a research note published on Tuesday,Benzinga reports. They currently have a $9.00 price target on the stock.

A number of other brokerages also recently issued reports on GENI. Macquarie reduced their price objective on shares of Genius Sports from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, July 18th. B. Riley increased their price target on shares of Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Benchmark restated a “buy” rating and set a $10.00 price objective on shares of Genius Sports in a research report on Friday, October 11th. Finally, The Goldman Sachs Group raised their target price on Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a report on Thursday, August 8th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $10.39.

Genius Sports Price Performance

NYSE:GENI traded down $0.23 on Tuesday, hitting $9.16. The company’s stock had a trading volume of 1,324,595 shares, compared to its average volume of 2,379,893. Genius Sports has a one year low of $4.91 and a one year high of $10.15. The stock has a fifty day moving average of $7.62 and a two-hundred day moving average of $6.56.

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

Institutional Trading of Genius Sports

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC grew its holdings in Genius Sports by 53.2% during the third quarter. FMR LLC now owns 7,219,874 shares of the company’s stock worth $56,604,000 after buying an additional 2,507,165 shares in the last quarter. Divisadero Street Capital Management LP purchased a new position in Genius Sports during the 2nd quarter worth $11,233,000. Massachusetts Financial Services Co. MA grew its stake in shares of Genius Sports by 28.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock worth $37,217,000 after acquiring an additional 1,502,958 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Genius Sports in the second quarter valued at about $6,575,000. Finally, Rice Hall James & Associates LLC bought a new position in shares of Genius Sports during the second quarter valued at about $5,521,000. 81.91% of the stock is owned by hedge funds and other institutional investors.

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.