Genius Sports (NYSE:GENI) Price Target Lowered to $9.00 at BTIG Research

Genius Sports (NYSE:GENI) had its target price lowered by BTIG Research from $10.00 to $9.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price objective would suggest a potential upside of 88.88% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. UBS Group restated a “buy” rating on shares of Genius Sports in a research report on Wednesday, March 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Genius Sports in a research report on Friday, March 27th. Wells Fargo & Company cut their price objective on shares of Genius Sports from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, March 5th. Citigroup cut their price objective on shares of Genius Sports from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Finally, Stifel Nicolaus cut their price objective on shares of Genius Sports from $7.00 to $5.00 and set a “hold” rating for the company in a research report on Thursday, April 9th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.17.

Genius Sports Trading Up 8.3%

NYSE:GENI opened at $4.77 on Thursday. The company’s 50-day moving average price is $4.83 and its 200-day moving average price is $8.00. The company has a market cap of $1.17 billion, a P/E ratio of -11.08 and a beta of 1.80. Genius Sports has a twelve month low of $3.83 and a twelve month high of $13.73.

Genius Sports (NYSE:GENI) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.12). Genius Sports had a negative return on equity of 13.66% and a negative net margin of 16.67%.The business had revenue of $187.95 million during the quarter, compared to analysts’ expectations of $170.60 million. During the same period in the prior year, the business posted ($0.03) earnings per share. The business’s quarterly revenue was up 30.5% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GENI. Wellington Management Group LLP grew its stake in shares of Genius Sports by 17.9% in the third quarter. Wellington Management Group LLP now owns 13,513,537 shares of the company’s stock valued at $167,298,000 after buying an additional 2,051,503 shares in the last quarter. Voss Capital LP grew its stake in shares of Genius Sports by 35.4% in the fourth quarter. Voss Capital LP now owns 11,100,000 shares of the company’s stock valued at $122,322,000 after buying an additional 2,900,000 shares in the last quarter. Senvest Management LLC grew its stake in shares of Genius Sports by 13.7% in the fourth quarter. Senvest Management LLC now owns 9,410,567 shares of the company’s stock valued at $103,704,000 after buying an additional 1,135,577 shares in the last quarter. Stephens Investment Management Group LLC grew its stake in shares of Genius Sports by 35.1% in the first quarter. Stephens Investment Management Group LLC now owns 7,598,359 shares of the company’s stock valued at $33,661,000 after buying an additional 1,974,043 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in shares of Genius Sports by 1.7% in the fourth quarter. Westfield Capital Management Co. LP now owns 5,951,203 shares of the company’s stock valued at $65,582,000 after buying an additional 101,120 shares in the last quarter. Hedge funds and other institutional investors own 81.91% of the company’s stock.

About Genius Sports

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.