Genius Sports (NYSE:GENI) Price Target Raised to $12.00 at Citigroup

Genius Sports (NYSE:GENI) had its target price boosted by stock analysts at Citigroup from $10.00 to $12.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 22.82% from the stock’s current price.

A number of other equities analysts also recently weighed in on GENI. Needham & Company LLC reissued a “buy” rating and set a $9.00 target price on shares of Genius Sports in a research note on Tuesday, November 12th. B. Riley lifted their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group lifted their price target on shares of Genius Sports from $8.50 to $11.50 and gave the company a “buy” rating in a research note on Thursday, November 14th. Macquarie lifted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Oppenheimer lifted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $10.72.

Genius Sports Stock Performance

NYSE GENI remained flat at $9.77 during mid-day trading on Wednesday. 293,734 shares of the company were exchanged, compared to its average volume of 2,395,786. Genius Sports has a fifty-two week low of $4.91 and a fifty-two week high of $10.15. The company has a 50 day moving average of $7.84 and a 200 day moving average of $6.76. The stock has a market cap of $2.24 billion, a PE ratio of -30.53 and a beta of 1.98.

Genius Sports (NYSE:GENI) last announced its earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, topping 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 14.11%. The business had revenue of $120.20 million during the quarter, compared to the consensus estimate of $118.94 million. During the same quarter last year, the firm earned ($0.06) earnings per share. Genius Sports’s quarterly revenue was up 18.2% on a year-over-year basis. Sell-side analysts expect that Genius Sports will post -0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GENI. AYAL Capital Advisors Ltd purchased a new position in Genius Sports during the second quarter worth about $4,635,000. GSA Capital Partners LLP purchased a new position in Genius Sports during the third quarter worth about $532,000. Rice Hall James & Associates LLC purchased a new position in Genius Sports during the second quarter worth about $5,521,000. Senvest Management LLC boosted its holdings in Genius Sports by 12.2% during the third quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock worth $59,167,000 after purchasing an additional 819,385 shares during the last quarter. Finally, Millrace Asset Group Inc. purchased a new position in Genius Sports during the third quarter worth about $1,897,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.

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.