Genius Sports (NYSE:GENI) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Genius Sports (NYSE:GENI - Free Report) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $12.00 price target on the stock.

A number of other research analysts have also recently commented on the stock. Benchmark increased their target price on shares of Genius Sports from $10.00 to $11.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. The Goldman Sachs Group raised their target price on shares of Genius Sports from $8.50 to $11.50 and gave the company a "buy" rating in a research report on Thursday, November 14th. JMP Securities reaffirmed a "market outperform" rating and set a $11.00 target price on shares of Genius Sports in a research note on Monday, January 27th. Citizens Jmp cut Genius Sports from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 6th. Finally, Macquarie boosted their price objective on Genius Sports from $10.00 to $12.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Genius Sports has a consensus rating of "Moderate Buy" and a consensus price target of $11.83.

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Genius Sports Stock Performance

Shares of NYSE GENI traded up $0.22 during trading hours on Tuesday, hitting $9.73. 5,335,615 shares of the stock were exchanged, compared to its average volume of 2,462,094. Genius Sports has a 1-year low of $4.91 and a 1-year high of $10.33. The company has a market cap of $2.09 billion, a PE ratio of -30.42 and a beta of 2.14. The company's fifty day simple moving average is $9.00 and its two-hundred day simple moving average is $8.44.

Genius Sports (NYSE:GENI - Get Free Report) last issued its earnings results on Tuesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.16). Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The business had revenue of $175.53 million during the quarter, compared to analyst estimates of $175.52 million. During the same period in the prior year, the business posted ($0.10) EPS. As a group, sell-side analysts expect that Genius Sports will post -0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

Institutional investors have recently made changes to their positions in the stock. Emerald Mutual Fund Advisers Trust bought a new position in shares of Genius Sports during the fourth quarter worth about $58,000. Captrust Financial Advisors bought a new position in Genius Sports during the 3rd quarter worth approximately $84,000. Walleye Trading LLC lifted its position in shares of Genius Sports by 169.9% in the 3rd quarter. Walleye Trading LLC now owns 12,155 shares of the company's stock worth $95,000 after purchasing an additional 29,555 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in shares of Genius Sports by 39.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company's stock valued at $105,000 after purchasing an additional 3,429 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of Genius Sports during the fourth quarter worth $129,000. Institutional investors own 81.91% of the company's stock.

About Genius Sports

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.