JMP Securities Increases Genius Sports (NYSE:GENI) Price Target to $9.00

Genius Sports (NYSE:GENI) had its price target lifted by JMP Securities from $8.00 to $9.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price target indicates a potential upside of 65.14% from the stock’s current price.

GENI has been the subject of a number of other research reports. B. Riley assumed 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. Cantor Fitzgerald restated an “overweight” rating and issued a $8.00 price target on shares of Genius Sports in a research report on Monday, February 26th. The Goldman Sachs Group assumed coverage on Genius Sports in a research report on Tuesday, April 16th. They issued a “buy” rating and a $7.50 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a research report on Thursday. Finally, Oppenheimer restated an “outperform” rating and issued a $10.00 price target on shares of Genius Sports in a research report on Thursday, April 4th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, Genius Sports presently has an average rating of “Buy” and an average target price of $9.33.

Genius Sports Price Performance

Genius Sports stock traded up $0.07 during mid-day trading on Thursday, hitting $5.45. 1,597,949 shares of the company’s stock traded hands, compared to its average volume of 2,218,554. The firm has a 50 day simple moving average of $5.71 and a two-hundred day simple moving average of $5.88. Genius Sports has a fifty-two week low of $4.52 and a fifty-two week high of $8.45. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -13.70 and a beta of 1.98.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). Genius Sports had a negative net margin of 20.71% and a negative return on equity of 12.67%. The business had revenue of $119.72 million for the quarter, compared to analyst estimates of $116.53 million. During the same period in the prior year, the business earned ($0.12) EPS. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. On average, research analysts anticipate that Genius Sports will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GENI. Oppenheimer & Co. Inc. grew its position in Genius Sports by 58.2% in the 1st 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. SG Americas Securities LLC bought a new position in shares of Genius Sports during the 1st quarter valued at approximately $119,000. Nikko Asset Management Americas Inc. grew its position in shares of Genius Sports by 25.0% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 8,503,563 shares of the company’s stock valued at $48,555,000 after acquiring an additional 1,702,602 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Genius Sports by 25.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,503,563 shares of the company’s stock valued at $48,555,000 after acquiring an additional 1,702,602 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Genius Sports by 383.6% during the 4th quarter. Wellington Management Group LLP now owns 7,277,462 shares of the company’s stock valued at $44,975,000 after acquiring an additional 5,772,540 shares during the period. 81.91% of the stock is owned by institutional investors.

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.