Genius Sports (NYSE:GENI) Hits New 52-Week High on Analyst Upgrade

Genius Sports Limited (NYSE:GENIGet Free Report) shares hit a new 52-week high on Thursday after Macquarie raised their price target on the stock from $14.00 to $15.00. Macquarie currently has an outperform rating on the stock. Genius Sports traded as high as $12.45 and last traded at $11.65, with a volume of 13134176 shares changing hands. The stock had previously closed at $12.22.

A number of other research firms also recently commented on GENI. Arete Research upgraded Genius Sports to a “strong-buy” rating in a report on Wednesday, July 9th. Benchmark upped their price objective on shares of Genius Sports from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday. Truist Financial assumed coverage on shares of Genius Sports in a research note on Tuesday, July 1st. They issued a “buy” rating and a $14.00 target price on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Genius Sports in a research note on Monday, April 21st. They issued a “buy” rating and a $12.00 price target on the stock. Finally, Arete assumed coverage on shares of Genius Sports in a report on Wednesday, July 9th. They issued a “buy” rating and a $15.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.69.

View Our Latest Report on GENI

Institutional Investors Weigh In On Genius Sports

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in Genius Sports by 138.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,649,007 shares of the company’s stock worth $14,264,000 after acquiring an additional 957,559 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Genius Sports by 27.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 16,582 shares of the company’s stock worth $143,000 after buying an additional 3,548 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Genius Sports in the fourth quarter valued at approximately $3,476,000. Renaissance Technologies LLC bought a new stake in shares of Genius Sports during the fourth quarter worth $253,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in Genius Sports in the 4th quarter valued at $1,834,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

Genius Sports Stock Up 3.4%

The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -39.90 and a beta of 1.86. The stock’s fifty day moving average is $10.41 and its two-hundred day moving average is $9.95.

Genius Sports (NYSE:GENIGet Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.17). The company had revenue of $118.72 million for the quarter, compared to analyst estimates of $118.28 million. Genius Sports had a negative return on equity of 11.48% and a negative net margin of 13.94%. The business’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.09) EPS. As a group, analysts anticipate that Genius Sports Limited will post -0.1 EPS for the current year.

Genius Sports announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 6th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Genius Sports Company Profile

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Genius Sports Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genius Sports and related companies with MarketBeat.com's FREE daily email newsletter.