Genius Sports’ (GENI) Outperform Rating Reaffirmed at Oppenheimer

Oppenheimer restated their outperform rating on shares of Genius Sports (NYSE:GENI) in a research report released on Thursday morning, Benzinga reports. The firm currently has a $10.00 price objective on the stock.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC reiterated a buy rating and issued a $9.00 target price on shares of Genius Sports in a research note on Wednesday, March 6th. Macquarie assumed coverage on shares of Genius Sports in a research note on Thursday, December 21st. They issued an outperform rating and a $11.00 target price on the stock. JMP Securities reiterated a market outperform rating and issued a $8.00 target price on shares of Genius Sports in a research note on Thursday, March 7th. Cantor Fitzgerald reiterated an overweight rating and issued a $8.00 target price on shares of Genius Sports in a research note on Monday, February 26th. Finally, Benchmark reiterated a buy rating and issued a $10.00 target price on shares of Genius Sports in a research note on Thursday, March 7th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Genius Sports presently has a consensus rating of Buy and a consensus price target of $9.50.

Genius Sports Stock Performance

Shares of GENI opened at $5.76 on Thursday. The stock has a market cap of $1.34 billion, a PE ratio of -14.39 and a beta of 1.96. Genius Sports has a fifty-two week low of $3.55 and a fifty-two week high of $8.45. The firm’s 50-day simple moving average is $6.55 and its two-hundred day simple moving average is $5.86.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data on Wednesday, March 6th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.10). The business had revenue of $127.20 million during the quarter, compared to analysts’ expectations of $126.53 million. Genius Sports had a negative return on equity of 12.67% and a negative net margin of 20.71%. Genius Sports’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.18) EPS. Equities research analysts predict that Genius Sports will post -0.19 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GENI. Envestnet Asset Management Inc. lifted its position in Genius Sports by 37.2% during the first quarter. Envestnet Asset Management Inc. now owns 64,414 shares of the company’s stock valued at $296,000 after purchasing an additional 17,455 shares during the period. Bank of New York Mellon Corp raised its position in Genius Sports by 28.6% in the first quarter. Bank of New York Mellon Corp now owns 981,490 shares of the company’s stock worth $4,515,000 after acquiring an additional 218,044 shares during the period. US Bancorp DE bought a new position in Genius Sports in the first quarter worth approximately $69,000. Bridgefront Capital LLC bought a new position in Genius Sports in the first quarter worth approximately $65,000. Finally, UBS Group AG raised its position in Genius Sports by 26.1% in the first quarter. UBS Group AG now owns 526,614 shares of the company’s stock worth $2,422,000 after acquiring an additional 108,874 shares during the period. Institutional investors own 81.91% of the company’s stock.

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.