Brokers Set Expectations for Genius Sports Limited’s Q3 2024 Earnings (NYSE:GENI)

Genius Sports Limited (NYSE:GENI) – Stock analysts at B. Riley issued their Q3 2024 earnings per share (EPS) estimates for shares of Genius Sports in a research report issued to clients and investors on Wednesday, May 8th. B. Riley analyst D. Bain forecasts that the company will post earnings of ($0.01) per share for the quarter. B. Riley has a “Buy” rating and a $9.00 price target on the stock. The consensus estimate for Genius Sports’ current full-year earnings is ($0.13) per share. B. Riley also issued estimates for Genius Sports’ Q4 2024 earnings at $0.00 EPS, Q2 2025 earnings at $0.00 EPS, Q3 2025 earnings at $0.01 EPS and Q4 2025 earnings at $0.05 EPS.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Genius Sports had a negative return on equity of 12.67% and a negative net margin of 20.71%. The company had revenue of $119.72 million for the quarter, compared to analyst estimates of $116.53 million. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.12) EPS.

Several other equities analysts have also commented on the stock. Oppenheimer reissued an “outperform” rating and issued a $10.00 target price on shares of Genius Sports in a report on Thursday, April 4th. The Goldman Sachs Group started coverage on Genius Sports in a research report on Tuesday, April 16th. They set a “buy” rating and a $7.50 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $8.00 target price on shares of Genius Sports in a research note on Monday, February 26th. JMP Securities lifted their price target on shares of Genius Sports from $8.00 to $9.00 and gave the company a “market outperform” rating in a report on Thursday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $9.00 price objective on shares of Genius Sports in a research note on Thursday. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, Genius Sports presently has a consensus rating of “Buy” and an average target price of $9.33.

Genius Sports Stock Performance

GENI opened at $5.45 on Friday. The firm has a market cap of $1.27 billion, a P/E ratio of -13.62 and a beta of 1.98. The business’s fifty day moving average is $5.67 and its 200-day moving average is $5.88. Genius Sports has a 52-week low of $4.52 and a 52-week high of $8.45.

Institutional Investors Weigh In On Genius Sports

Several large investors have recently modified their holdings of GENI. White Pine Capital LLC lifted its stake in Genius Sports by 1.2% in the third quarter. White Pine Capital LLC now owns 327,411 shares of the company’s stock valued at $1,745,000 after buying an additional 3,750 shares during the period. NewEdge Wealth LLC acquired a new position in shares of Genius Sports during the 4th quarter valued at $62,000. Arete Wealth Advisors LLC grew its holdings in Genius Sports by 83.5% in the third quarter. Arete Wealth Advisors LLC now owns 22,200 shares of the company’s stock worth $118,000 after purchasing an additional 10,100 shares during the period. Orion Portfolio Solutions LLC bought a new stake in Genius Sports in the third quarter valued at $58,000. Finally, Brown Advisory Inc. acquired a new position in shares of Genius Sports during the fourth quarter valued at about $76,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.

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.