Genius Sports' (GENI) "Buy" Rating Reaffirmed at Needham & Company LLC

Genius Sports (NYSE:GENI - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $9.00 target price on the stock. Needham & Company LLC's price target suggests a potential downside of 4.96% from the company's current price.

Several other brokerages also recently issued reports on GENI. Benchmark reissued a "buy" rating and set a $10.00 target price on shares of Genius Sports in a research note on Friday, October 11th. B. Riley increased their price target on shares of Genius Sports from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Wednesday, August 7th. Macquarie reduced their price target on shares of Genius Sports from $10.00 to $9.00 and set an "outperform" rating on the stock in a research report on Thursday, July 18th. Finally, The Goldman Sachs Group upped their target price on shares of Genius Sports from $7.50 to $8.50 and gave the company a "buy" rating in a report on Thursday, August 8th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $9.45.

Genius Sports Trading Up 17.2 %

Genius Sports stock traded up $1.39 during midday trading on Tuesday, hitting $9.47. The stock had a trading volume of 11,023,292 shares, compared to its average volume of 2,346,613. The stock has a market cap of $2.17 billion, a P/E ratio of -22.23 and a beta of 1.98. Genius Sports has a 12 month low of $4.73 and a 12 month high of $9.85. The business has a fifty day moving average price of $7.48 and a 200 day moving average price of $6.49.

Institutional Investors Weigh In On Genius Sports

A number of large investors have recently bought and sold shares of GENI. SG Americas Securities LLC bought a new stake in Genius Sports in the first quarter worth about $119,000. Oppenheimer & Co. Inc. increased its stake in shares of Genius Sports by 58.2% in the first quarter. Oppenheimer & Co. Inc. now owns 81,770 shares of the company's stock worth $467,000 after purchasing an additional 30,089 shares in the last quarter. MQS Management LLC purchased a new position in shares of Genius Sports in the first quarter worth about $167,000. Silvercrest Asset Management Group LLC grew its stake in Genius Sports by 4.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 1,159,465 shares of the company's stock valued at $6,621,000 after acquiring an additional 50,482 shares in the last quarter. Finally, Levin Capital Strategies L.P. grew its stake in Genius Sports by 40.0% during the first quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company's stock valued at $200,000 after acquiring an additional 10,000 shares in the last quarter. 81.91% of the stock is currently owned by institutional investors and hedge funds.

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.