Genius Sports (NYSE:GENI) Stock Rating Upgraded by Wells Fargo & Company

Genius Sports (NYSE:GENI) was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm presently has a $16.00 target price on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 51.80% from the stock’s current price.

Several other research firms also recently commented on GENI. Guggenheim set a $17.00 target price on Genius Sports in a research report on Thursday, December 4th. Citigroup reiterated a “market outperform” rating on shares of Genius Sports in a report on Tuesday, December 16th. Roth Capital initiated coverage on shares of Genius Sports in a report on Friday, September 12th. They set a “buy” rating and a $16.00 target price on the stock. New Street Research set a $17.00 price target on shares of Genius Sports in a research note on Thursday, December 4th. Finally, BTIG Research boosted their price objective on shares of Genius Sports from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.20.

Genius Sports Price Performance

Shares of GENI opened at $10.54 on Friday. The firm has a 50 day simple moving average of $10.45 and a two-hundred day simple moving average of $11.33. Genius Sports has a one year low of $8.15 and a one year high of $13.73. The company has a market cap of $2.27 billion, a P/E ratio of -22.43 and a beta of 1.81.

Genius Sports (NYSE:GENI) last posted its earnings results on Tuesday, November 4th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.18). The company had revenue of $166.28 million during the quarter, compared to the consensus estimate of $156.24 million. Genius Sports had a negative return on equity of 14.39% and a negative net margin of 19.71%. On average, analysts expect that Genius Sports will post -0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

Several large investors have recently modified their holdings of the company. Greenwood Capital Associates LLC boosted its position in Genius Sports by 1.8% during the second quarter. Greenwood Capital Associates LLC now owns 52,692 shares of the company’s stock valued at $548,000 after acquiring an additional 937 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Genius Sports by 9.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 14,131 shares of the company’s stock valued at $175,000 after purchasing an additional 1,177 shares in the last quarter. Prelude Capital Management LLC grew its stake in Genius Sports by 1.3% during the third quarter. Prelude Capital Management LLC now owns 92,529 shares of the company’s stock worth $1,146,000 after purchasing an additional 1,181 shares during the period. Cetera Investment Advisers increased its holdings in Genius Sports by 10.0% in the second quarter. Cetera Investment Advisers now owns 15,288 shares of the company’s stock worth $159,000 after purchasing an additional 1,388 shares in the last quarter. Finally, SkyView Investment Advisors LLC lifted its stake in Genius Sports by 2.0% in the second quarter. SkyView Investment Advisors LLC now owns 77,289 shares of the company’s stock valued at $802,000 after buying an additional 1,512 shares during the period. 81.91% of the stock is currently owned by institutional investors and hedge funds.

About Genius Sports

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.