Genius Sports (NYSE:GENI) Stock Price Up 6.7% – Still a Buy?

Genius Sports Limited (NYSE:GENI)’s stock price shot up 6.7% during trading on Friday . The company traded as high as $5.76 and last traded at $5.8060. Approximately 801,489 shares were traded during trading, a decline of 87% from the average daily volume of 6,380,544 shares. The stock had previously closed at $5.44.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GENI. BTIG Research reduced their price target on shares of Genius Sports from $10.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Genius Sports in a report on Monday, May 11th. They issued a “buy” rating and a $10.00 price target for the company. Roth Mkm set a $10.00 price objective on shares of Genius Sports in a research note on Friday, May 8th. Wall Street Zen downgraded Genius Sports from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. Finally, Truist Financial cut their price objective on Genius Sports from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.68.

Genius Sports Stock Performance

The business’s 50 day moving average price is $5.33 and its 200 day moving average price is $6.80. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -9.98 and a beta of 1.90.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.12). The firm had revenue of $187.95 million during the quarter, compared to analyst estimates of $170.60 million. Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.The company’s revenue was up 30.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.03) EPS. Sell-side analysts anticipate that Genius Sports Limited will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GENI. JPMorgan Chase & Co. boosted its position in Genius Sports by 79.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,293,172 shares of the company’s stock valued at $16,009,000 after buying an additional 572,607 shares during the period. Penn Capital Management Company LLC boosted its position in shares of Genius Sports by 2,593.7% during the 3rd quarter. Penn Capital Management Company LLC now owns 1,219,711 shares of the company’s stock worth $15,116,000 after acquiring an additional 1,174,431 shares in the last quarter. Quent Capital LLC purchased a new position in Genius Sports in the fourth quarter valued at approximately $2,840,000. UBS Group AG raised its stake in Genius Sports by 45.1% during the 4th quarter. UBS Group AG now owns 3,974,964 shares of the company’s stock worth $43,804,000 after acquiring an additional 1,235,352 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Genius Sports by 82.7% in the 3rd quarter. Westfield Capital Management Co. LP now owns 5,850,083 shares of the company’s stock valued at $72,424,000 after purchasing an additional 2,647,948 shares during the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.

Genius Sports Company Profile

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.