Genius Sports (NYSE:GENI) Issues Quarterly Earnings Results

Genius Sports (NYSE:GENI) issued its earnings results on Tuesday. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06, Briefing.com reports. The business had revenue of $120.20 million for the quarter, compared to analyst estimates of $118.94 million. Genius Sports had a negative net margin of 21.93% and a negative return on equity of 15.30%. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period last year, the company posted ($0.06) earnings per share. Genius Sports updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

Genius Sports Trading Up 6.2 %

GENI traded up $0.59 during trading on Wednesday, hitting $10.06. The company’s stock had a trading volume of 2,841,838 shares, compared to its average volume of 2,354,227. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of -22.67 and a beta of 1.98. The business’s fifty day simple moving average is $7.53 and its 200 day simple moving average is $6.52. Genius Sports has a twelve month low of $4.90 and a twelve month high of $10.07.

Analysts Set New Price Targets

A number of equities analysts have commented on GENI shares. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 target price on shares of Genius Sports in a report on Tuesday. B. Riley boosted their price target on Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group lifted their price objective on shares of Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a research note on Thursday, August 8th. Macquarie reduced their target price on shares of Genius Sports from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. Finally, Oppenheimer upped their price target on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $9.65.

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.