B. Riley Issues Positive Forecast for Genius Sports (NYSE:GENI) Stock Price

Genius Sports (NYSE:GENI) had its price objective upped by B. Riley from $10.00 to $12.00 in a research note issued to investors on Wednesday,Benzinga reports. B. Riley currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on GENI. Macquarie increased 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. The Goldman Sachs Group increased their price target on shares of Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a report on Thursday, August 8th. Oppenheimer increased 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. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a report on Tuesday. Finally, Benchmark increased their price target on shares of Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $10.25.

Genius Sports Trading Up 1.3 %

NYSE:GENI opened at $9.59 on Wednesday. Genius Sports has a 1 year low of $4.90 and a 1 year high of $10.15. The firm’s fifty day simple moving average is $7.58 and its 200 day simple moving average is $6.54. The firm has a market capitalization of $2.20 billion, a PE ratio of -29.97 and a beta of 1.98.

Genius Sports (NYSE:GENI) last posted its earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.09%. The business had revenue of $120.20 million for the quarter, compared to analyst estimates of $118.94 million. During the same period last year, the business posted ($0.06) EPS. Genius Sports’s revenue was up 18.2% compared to the same quarter last year. As a group, analysts anticipate that Genius Sports will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Genius Sports

A number of hedge funds and other institutional investors have recently made changes to their positions in GENI. FMR LLC lifted its holdings in Genius Sports by 53.2% during the 3rd quarter. FMR LLC now owns 7,219,874 shares of the company’s stock valued at $56,604,000 after purchasing an additional 2,507,165 shares during the last quarter. Divisadero Street Capital Management LP bought a new position in Genius Sports during the 2nd quarter valued at about $11,233,000. Massachusetts Financial Services Co. MA lifted its holdings in Genius Sports by 28.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock valued at $37,217,000 after purchasing an additional 1,502,958 shares during the last quarter. Bank of Montreal Can bought a new position in Genius Sports during the 2nd quarter valued at about $6,575,000. Finally, Rice Hall James & Associates LLC bought a new position in Genius Sports during the 2nd quarter valued at about $5,521,000. 81.91% of the stock is 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.