Genius Sports (NYSE:GENI) Price Target Increased to $8.50 by Analysts at The Goldman Sachs Group

Genius Sports (NYSE:GENI) had its price target boosted by The Goldman Sachs Group from $7.50 to $8.50 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also weighed in on GENI. Needham & Company LLC reissued a buy rating and issued a $9.00 target price on shares of Genius Sports in a research note on Tuesday. Macquarie cut 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. JMP Securities lifted their price objective on shares of Genius Sports from $8.00 to $9.00 and gave the stock a market outperform rating in a research note on Thursday, May 9th. B. Riley upped their target price on shares of Genius Sports from $9.00 to $10.00 and gave the company a buy rating in a research note on Wednesday. Finally, Citigroup started coverage on shares of Genius Sports in a research report on Thursday, June 13th. They set a buy rating and a $9.00 price target on the stock. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of Buy and a consensus price target of $9.45.

Genius Sports Trading Down 3.1 %

Shares of NYSE:GENI traded down $0.21 during trading on Thursday, hitting $6.82. 3,617,850 shares of the company’s stock were exchanged, compared to its average volume of 2,267,198. The firm has a market cap of $1.56 billion, a P/E ratio of -17.47 and a beta of 1.95. The firm has a 50-day moving average price of $5.80 and a two-hundred day moving average price of $5.94. Genius Sports has a 1-year low of $4.62 and a 1-year high of $7.77.

Genius Sports (NYSE:GENI) last released its earnings results on Tuesday, August 6th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). The business had revenue of $95.50 million for the quarter, compared to analyst estimates of $94.15 million. Genius Sports had a negative return on equity of 12.98% and a negative net margin of 19.73%. Genius Sports’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.05) EPS. As a group, research analysts predict that Genius Sports will post -0.17 EPS for the current year.

Institutional Investors Weigh In On Genius Sports

A number of hedge funds and other institutional investors have recently made changes to their positions in GENI. NewEdge Wealth LLC bought a new position in Genius Sports during the 4th quarter worth about $62,000. Koss Olinger Consulting LLC acquired a new position in shares of Genius Sports during the second quarter worth about $64,000. Brown Advisory Inc. bought a new position in shares of Genius Sports during the fourth quarter worth about $76,000. Virtu Financial LLC acquired a new stake in Genius Sports in the 1st quarter valued at approximately $94,000. Finally, Victory Capital Management Inc. acquired a new stake in Genius Sports in the 4th quarter valued at approximately $105,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.

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.