Genius Sports' (GENI) "Buy" Rating Reiterated at Benchmark

Genius Sports (NYSE:GENI - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Benchmark in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $12.00 target price on the stock. Benchmark's price objective indicates a potential upside of 21.58% from the stock's current price.

Several other brokerages have also issued reports on GENI. Citizens Jmp lowered shares of Genius Sports from a "strong-buy" rating to a "hold" rating in a report on Monday, January 6th. Needham & Company LLC set a $13.00 target price on shares of Genius Sports in a report on Wednesday, March 5th. Craig Hallum set a $15.00 price target on Genius Sports in a research note on Tuesday, March 4th. Lake Street Capital increased their price objective on shares of Genius Sports from $10.50 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $11.00 target price on shares of Genius Sports in a research report on Monday, January 27th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $12.21.

Genius Sports Stock Performance

Shares of GENI stock traded down $0.46 on Thursday, hitting $9.87. The company's stock had a trading volume of 2,004,664 shares, compared to its average volume of 2,655,238. The stock's 50 day moving average is $9.59 and its 200-day moving average is $8.93. Genius Sports has a fifty-two week low of $4.91 and a fifty-two week high of $11.16. The company has a market capitalization of $2.12 billion, a PE ratio of -30.84 and a beta of 1.98.

Genius Sports (NYSE:GENI - Get Free Report) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.16). The firm had revenue of $175.53 million for the quarter, compared to analyst estimates of $175.52 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. During the same quarter in the previous year, the company earned ($0.10) earnings per share. On average, research analysts forecast that Genius Sports will post -0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Stifel Financial Corp bought a new stake in Genius Sports in the 3rd quarter worth approximately $561,000. State Street Corp increased its position in shares of Genius Sports by 237.8% during the third quarter. State Street Corp now owns 135,859 shares of the company's stock valued at $1,065,000 after buying an additional 95,642 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Genius Sports in the 3rd quarter worth approximately $221,000. Tidal Investments LLC bought a new position in Genius Sports in the third quarter worth $371,000. Finally, JPMorgan Chase & Co. lifted its position in Genius Sports by 2,765,692.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 691,448 shares of the company's stock valued at $5,421,000 after acquiring an additional 691,423 shares during the period. Hedge funds and other institutional investors own 81.91% of the company's stock.

Genius Sports Company Profile

Genius Sports Limited engages in the development and sale of 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.