Genius Sports (NYSE:GENI) Earns Buy Rating from Analysts at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Genius Sports (NYSE:GENI) in a research report report published on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating and a $7.50 target price on the stock.

GENI has been the topic of a number of other research reports. Oppenheimer reiterated an outperform rating and set a $10.00 price target on shares of Genius Sports in a research report on Thursday, April 4th. Macquarie assumed coverage on Genius Sports in a research report on Thursday, December 21st. They issued an outperform rating and a $11.00 target price on the stock. JMP Securities restated a market outperform rating and issued a $8.00 target price on shares of Genius Sports in a research report on Thursday, March 7th. B. Riley assumed coverage on Genius Sports in a research report on Friday, April 5th. They issued a buy rating and a $9.00 target price on the stock. Finally, Benchmark restated a buy rating and issued a $10.00 target price on shares of Genius Sports in a research report on Thursday, March 7th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $9.25.

Genius Sports Trading Down 2.9 %

Shares of GENI stock opened at $5.12 on Tuesday. The company has a market capitalization of $1.19 billion, a P/E ratio of -12.79 and a beta of 1.96. The business’s 50 day moving average is $6.24 and its two-hundred day moving average is $5.87. Genius Sports has a 12-month low of $3.55 and a 12-month high of $8.45.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Wednesday, March 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.10). The business had revenue of $127.20 million for 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%. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.18) EPS. On average, research analysts predict that Genius Sports will post -0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

Several hedge funds and other institutional investors have recently made changes to their positions in GENI. Envestnet Asset Management Inc. increased its holdings in shares of Genius Sports by 37.2% in 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 last quarter. Bank of New York Mellon Corp increased its holdings in shares of 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 valued at $4,515,000 after purchasing an additional 218,044 shares during the last quarter. US Bancorp DE acquired a new stake in shares of Genius Sports in the first quarter valued at approximately $69,000. Bridgefront Capital LLC acquired a new stake in shares of Genius Sports in the first quarter valued at approximately $65,000. Finally, UBS Group AG increased its stake in Genius Sports by 26.1% during 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 last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.

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.