Genius Sports (NYSE:GENI) Now Covered by Analysts at The Goldman Sachs Group

Stock analysts at The Goldman Sachs Group assumed coverage on shares of Genius Sports (NYSE:GENI) in a research note issued on Tuesday, Marketbeat reports. The brokerage set a “buy” rating and a $7.50 price target on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 45.63% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Macquarie initiated coverage on Genius Sports in a research note on Thursday, December 21st. They issued an “outperform” rating and a $11.00 price target on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $8.00 price objective on shares of Genius Sports in a research note on Thursday, March 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $8.00 price objective on shares of Genius Sports in a research note on Monday, February 26th. Oppenheimer reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Genius Sports in a research note on Thursday, April 4th. Finally, B. Riley began coverage on Genius Sports in a report on Friday, April 5th. They set a “buy” rating and a $9.00 target price for the company. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $9.25.

Genius Sports Price Performance

NYSE GENI opened at $5.15 on Tuesday. The firm has a market cap of $1.20 billion, a PE ratio of -12.87 and a beta of 1.97. Genius Sports has a one year low of $3.55 and a one year high of $8.45. The stock’s 50 day simple moving average is $6.37 and its 200 day simple moving average is $5.88.

Genius Sports (NYSE:GENI) last released its quarterly earnings results on Wednesday, March 6th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.10). The business had revenue of $127.20 million for the quarter, compared to the consensus estimate of $126.53 million. Genius Sports had a negative return on equity of 12.67% and a negative net margin of 20.71%. The firm’s revenue was up 20.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.18) earnings per share. As a group, equities analysts expect that Genius Sports will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On Genius Sports

Several hedge funds have recently modified their holdings of GENI. Wellington Management Group LLP lifted its stake in Genius Sports by 383.6% in the 4th quarter. Wellington Management Group LLP now owns 7,277,462 shares of the company’s stock valued at $44,975,000 after purchasing an additional 5,772,540 shares during the last quarter. Senvest Management LLC lifted its stake in Genius Sports by 591.9% in the 3rd quarter. Senvest Management LLC now owns 4,520,171 shares of the company’s stock valued at $24,093,000 after purchasing an additional 3,866,827 shares during the last quarter. Ophir Asset Management Pty Ltd acquired a new stake in Genius Sports in the 4th quarter valued at about $21,961,000. FMR LLC acquired a new stake in Genius Sports in the 1st quarter valued at about $9,281,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Genius Sports by 26.9% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,047,580 shares of the company’s stock valued at $37,564,000 after purchasing an additional 1,491,777 shares during the last quarter. 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.