Genius Sports (NYSE:GENI) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Genius Sports (NYSE:GENI) in a research report report published on Thursday morning, Benzinga reports. They currently have a $9.00 price objective on the stock.

A number of other research firms have also recently weighed in on GENI. Oppenheimer reaffirmed an outperform rating and set a $10.00 price target on shares of Genius Sports in a research note on Thursday, April 4th. B. Riley assumed coverage on Genius Sports in a research report on Friday, April 5th. They set a buy rating and a $9.00 price objective for the company. JMP Securities increased their target price on Genius Sports from $8.00 to $9.00 and gave the company a market outperform rating in a report on Thursday, May 9th. Citigroup initiated coverage on Genius Sports in a research report on Thursday, June 13th. They issued a buy rating and a $9.00 price objective on the stock. Finally, The Goldman Sachs Group assumed coverage on Genius Sports in a research note on Tuesday, April 16th. They set a buy rating and a $7.50 price objective on the stock. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Genius Sports presently has a consensus rating of Buy and a consensus target price of $9.36.

Genius Sports Stock Performance

Shares of GENI opened at $5.97 on Thursday. The stock has a 50 day moving average price of $5.35 and a 200 day moving average price of $5.85. Genius Sports has a one year low of $4.62 and a one year high of $8.45. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -15.31 and a beta of 1.96.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.02). Genius Sports had a negative net margin of 19.73% and a negative return on equity of 12.98%. The firm had revenue of $119.72 million for the quarter, compared to analyst estimates of $116.53 million. During the same period in the previous year, the firm posted ($0.12) EPS. The company’s revenue was up 23.1% compared to the same quarter last year. On average, analysts predict that Genius Sports will post -0.17 earnings per share for the current year.

Institutional Trading of Genius Sports

Several large investors have recently added to or reduced their stakes in GENI. NewEdge Wealth LLC bought a new position in Genius Sports during the fourth quarter worth about $62,000. Levin Capital Strategies L.P. raised its holdings in shares of Genius Sports by 40.0% in the first quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company’s stock valued at $200,000 after purchasing an additional 10,000 shares during the last quarter. Brown Advisory Inc. acquired a new stake in Genius Sports in the 4th quarter valued at $76,000. Virtu Financial LLC bought a new stake in Genius Sports during the first quarter worth about $94,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Genius Sports in the 4th quarter valued at approximately $105,000. 81.91% of the stock is owned by institutional investors.

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.