Oppenheimer Raises Genius Sports (NYSE:GENI) Price Target to $12.00

Genius Sports (NYSE:GENI) had its price target upped by equities research analysts at Oppenheimer from $10.00 to $12.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 23.08% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a research note on Tuesday. Benchmark reiterated a “buy” rating and issued a $10.00 price target on shares of Genius Sports in a research note on Friday, October 11th. Macquarie decreased their target price on Genius Sports from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Thursday, July 18th. B. Riley boosted their target price on Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group boosted their target price on Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Genius Sports presently has an average rating of “Buy” and an average target price of $9.65.

Genius Sports Price Performance

Genius Sports stock traded up $0.28 during mid-day trading on Wednesday, reaching $9.75. The stock had a trading volume of 418,559 shares, compared to its average volume of 2,343,212. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -22.67 and a beta of 1.98. The company has a 50-day moving average price of $7.53 and a two-hundred day moving average price of $6.52. Genius Sports has a one year low of $4.90 and a one year high of $9.85.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GENI. AYAL Capital Advisors Ltd bought a new position in shares of Genius Sports during the 2nd quarter valued at approximately $4,635,000. Rice Hall James & Associates LLC bought a new stake in Genius Sports in the second quarter worth $5,521,000. Hood River Capital Management LLC lifted its position in Genius Sports by 6.0% in the second quarter. Hood River Capital Management LLC now owns 2,026,873 shares of the company’s stock worth $11,046,000 after buying an additional 114,490 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Genius Sports in the second quarter worth $1,804,000. Finally, Bank of Montreal Can bought a new stake in Genius Sports in the second quarter worth $6,575,000. 81.91% of the stock is currently owned by 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.