Genius Sports (NYSE:GENI) Announces Earnings Results

Genius Sports (NYSE:GENI) announced its earnings results on Wednesday. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02), Briefing.com reports. The business had revenue of $119.72 million during the quarter, compared to analyst estimates of $116.53 million. Genius Sports had a negative net margin of 20.71% and a negative return on equity of 12.67%. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.12) earnings per share.

Genius Sports Stock Performance

Shares of NYSE GENI traded up $0.07 during mid-day trading on Thursday, hitting $5.45. 1,597,949 shares of the stock were exchanged, compared to its average volume of 2,218,554. The company has a market cap of $1.27 billion, a P/E ratio of -13.70 and a beta of 1.98. Genius Sports has a twelve month low of $4.52 and a twelve month high of $8.45. The stock’s fifty day simple moving average is $5.71 and its two-hundred day simple moving average is $5.88.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GENI shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $8.00 price objective on shares of Genius Sports in a research report on Monday, February 26th. Benchmark reiterated a “buy” rating and set a $10.00 price target on shares of Genius Sports in a research note on Thursday, March 7th. Oppenheimer restated an “outperform” rating and issued a $10.00 target price on shares of Genius Sports in a report on Thursday, April 4th. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a research report on Thursday. Finally, JMP Securities lifted their target price on shares of Genius Sports from $8.00 to $9.00 and gave the stock a “market outperform” rating in a report on Thursday. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Genius Sports presently has a consensus rating of “Buy” and a consensus target price of $9.33.

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.