Genius Sports (NYSE:GENI) Price Target Raised to $7.00

Genius Sports (NYSE:GENI) had its target price lifted by Stifel Nicolaus from $5.00 to $7.00 in a research note released on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

GENI has been the topic of a number of other research reports. Roth Capital set a $10.00 price objective on shares of Genius Sports in a research note on Friday, May 8th. Truist Financial decreased their target price on shares of Genius Sports from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Wells Fargo & Company lowered their price target on shares of Genius Sports from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Monday, July 20th. BTIG Research dropped their price target on shares of Genius Sports from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Genius Sports in a report on Monday, May 11th. They issued a “buy” rating and a $10.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.56.

Genius Sports Stock Up 1.5%

Genius Sports stock opened at $6.53 on Wednesday. Genius Sports has a 52-week low of $3.83 and a 52-week high of $13.73. The firm has a fifty day moving average of $6.14 and a 200-day moving average of $6.18. The firm has a market capitalization of $1.61 billion, a P/E ratio of -10.70 and a beta of 1.91.

Genius Sports (NYSE:GENI) last posted its earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.12). Genius Sports had a negative net margin of 22.26% and a negative return on equity of 20.34%. The business had revenue of $187.95 million for the quarter, compared to analyst estimates of $170.60 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. The business’s revenue was up 30.5% compared to the same quarter last year. On average, research analysts expect that Genius Sports will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Genius Sports

Large investors have recently modified their holdings of the stock. Parallel Advisors LLC bought a new stake in Genius Sports in the first quarter valued at about $25,000. Baer Investment Advisory LLC acquired a new stake in Genius Sports during the first quarter valued at approximately $61,000. UMB Bank n.a. bought a new position in Genius Sports during the 4th quarter worth approximately $63,000. Lexington Hill Partners LLC bought a new position in Genius Sports during the 2nd quarter worth approximately $64,000. Finally, Pacer Advisors Inc. grew its position in shares of Genius Sports by 29.1% in the 1st quarter. Pacer Advisors Inc. now owns 15,270 shares of the company’s stock worth $68,000 after acquiring an additional 3,440 shares in the last quarter. Institutional investors own 81.91% of the company’s stock.

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.