Zacks Investment Research Downgrades Genius Sports (NYSE:GENI) to Hold

Genius Sports (NYSE:GENI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Genius Sports Group provides digital sports content, technology and integrity services. Genius Sports Group, formerly known as dMY Technology Group Inc. II., is based in London. “

Several other equities research analysts also recently commented on GENI. Needham & Company LLC started coverage on shares of Genius Sports in a research report on Monday, June 7th. They set a “buy” rating and a $28.00 target price for the company. Oppenheimer restated a “buy” rating and set a $32.00 price target on shares of Genius Sports in a report on Monday, June 14th. The Goldman Sachs Group started coverage on shares of Genius Sports in a report on Wednesday, June 2nd. They set a “buy” rating and a $31.00 price target on the stock. Finally, Benchmark boosted their price target on shares of Genius Sports from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, May 21st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $28.20.

Shares of NYSE:GENI traded up $1.77 during midday trading on Wednesday, hitting $16.28. 2,488,903 shares of the company’s stock were exchanged, compared to its average volume of 1,547,116. The business’s 50 day moving average price is $19.10. Genius Sports has a 12 month low of $14.44 and a 12 month high of $25.18.

Genius Sports (NYSE:GENI) last posted its earnings results on Thursday, May 20th. The company reported ($1.68) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.33). The firm had revenue of $53.74 million for the quarter, compared to the consensus estimate of $44.00 million. As a group, equities research analysts predict that Genius Sports will post -0.18 earnings per share for the current year.

About Genius Sports

Genius Sports Limited develops and sells 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 of 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 full suite of online and offline educational and consultancy services.

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