Needham & Company LLC Boosts Genius Sports (NYSE:GENI) Price Target to $7.00

Genius Sports (NYSE:GENIGet Rating) had its price objective upped by equities research analysts at Needham & Company LLC from $6.00 to $7.00 in a note issued to investors on Wednesday, The Fly reports. Needham & Company LLC’s target price would suggest a potential upside of 49.57% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Citigroup lowered their price objective on shares of Genius Sports from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, July 7th. B. Riley reduced their target price on shares of Genius Sports from $9.00 to $5.50 and set a “buy” rating for the company in a research report on Tuesday, June 28th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Genius Sports Stock Performance

Shares of GENI stock opened at $4.68 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.19 and a current ratio of 2.19. The company has a market capitalization of $1.05 billion, a P/E ratio of -1.19 and a beta of 1.94. The company’s 50 day moving average price is $2.87 and its two-hundred day moving average price is $3.90. Genius Sports has a 52 week low of $2.20 and a 52 week high of $24.14.

Genius Sports (NYSE:GENIGet Rating) last announced its earnings results on Tuesday, August 16th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.07. The firm had revenue of $71.12 million for the quarter, compared to the consensus estimate of $64.70 million. Genius Sports had a negative net margin of 212.81% and a negative return on equity of 40.24%. The business’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period last year, the company posted ($0.69) EPS. On average, analysts expect that Genius Sports will post -0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GENI. Caledonia Private Investments Pty Ltd boosted its stake in Genius Sports by 2.1% in the 2nd quarter. Caledonia Private Investments Pty Ltd now owns 18,694,980 shares of the company’s stock worth $42,064,000 after purchasing an additional 387,905 shares during the period. PDT Partners LLC boosted its position in shares of Genius Sports by 32.3% during the 2nd quarter. PDT Partners LLC now owns 175,683 shares of the company’s stock valued at $395,000 after acquiring an additional 42,910 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of Genius Sports by 64.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 356,167 shares of the company’s stock valued at $801,000 after acquiring an additional 140,232 shares during the last quarter. Teton Advisors Inc. boosted its position in shares of Genius Sports by 31.7% during the 2nd quarter. Teton Advisors Inc. now owns 83,000 shares of the company’s stock valued at $187,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Genius Sports during the 2nd quarter valued at about $1,886,000. Institutional investors own 42.13% of the company’s stock.

Genius Sports Company Profile

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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 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.

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