Genius Sports (NYSE:GENI) Shares Up 10.2% Following Analyst Upgrade

Genius Sports Limited (NYSE:GENI)’s share price rose 10.2% during trading on Monday after The Goldman Sachs Group upgraded the stock to a strong-buy rating. The company traded as high as $7.20 and last traded at $7.14. Approximately 997,167 shares were traded during trading, a decline of 84% from the average session volume of 6,166,786 shares. The stock had previously closed at $6.48.

Several other analysts have also issued reports on the company. Truist Financial dropped their target price on Genius Sports from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Needham & Company LLC decreased their price target on Genius Sports from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Roth Capital set a $10.00 price target on Genius Sports in a research report on Friday, May 8th. Stifel Nicolaus upped their price objective on Genius Sports from $5.00 to $7.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on Genius Sports in a report on Monday, May 11th. They issued a “buy” rating and a $10.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Genius Sports has a consensus rating of “Moderate Buy” and a consensus target price of $11.19.

Hedge Funds Weigh In On Genius Sports

A number of institutional investors have recently bought and sold shares of GENI. Royal Bank of Canada raised its stake in Genius Sports by 17.6% in the first quarter. Royal Bank of Canada now owns 44,339 shares of the company’s stock valued at $444,000 after buying an additional 6,623 shares during the period. Cetera Investment Advisers boosted its stake in shares of Genius Sports by 10.0% during the 2nd quarter. Cetera Investment Advisers now owns 15,288 shares of the company’s stock worth $159,000 after acquiring an additional 1,388 shares during the period. Prudential Financial Inc. bought a new position in shares of Genius Sports during the 2nd quarter worth approximately $266,000. Invesco Ltd. increased its holdings in shares of Genius Sports by 3,584.2% during the 2nd quarter. Invesco Ltd. now owns 3,291,635 shares of the company’s stock worth $34,233,000 after acquiring an additional 3,202,290 shares during the last quarter. Finally, Frontier Capital Management Co. LLC acquired a new position in shares of Genius Sports during the 2nd quarter worth approximately $14,220,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

Genius Sports Trading Up 0.2%

The business has a 50 day moving average of $6.22 and a two-hundred day moving average of $6.10. The firm has a market cap of $1.79 billion, a P/E ratio of -11.94 and a beta of 1.91.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) 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 period in the prior year, the business earned ($0.03) EPS. The company’s revenue for the quarter was up 30.5% compared to the same quarter last year. On average, sell-side analysts predict that Genius Sports Limited will post -0.12 EPS for the current year.

Genius Sports Company Profile

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.