Genius Sports (NYSE:GENI) Price Target Cut to $9.00 by Analysts at Citigroup

Genius Sports (NYSE:GENI) had its price target cut by stock analysts at Citigroup from $11.00 to $9.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 98.02% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Zacks Research raised Genius Sports from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 4th. The Goldman Sachs Group upped their target price on Genius Sports from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. BTIG Research dropped their target price on Genius Sports from $16.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Guggenheim reduced their price target on Genius Sports from $17.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Finally, UBS Group restated a “buy” rating on shares of Genius Sports in a research report on Wednesday, March 4th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.74.

Genius Sports Price Performance

NYSE:GENI traded up $0.01 during midday trading on Thursday, hitting $4.55. The company’s stock had a trading volume of 3,104,412 shares, compared to its average volume of 6,600,255. Genius Sports has a fifty-two week low of $4.19 and a fifty-two week high of $13.73. The firm has a market cap of $1.12 billion, a P/E ratio of -10.57 and a beta of 2.08. The firm’s 50 day moving average is $6.21 and its 200-day moving average is $9.35.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data on Thursday, March 5th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.10). The business had revenue of $240.50 million for the quarter, compared to analyst estimates of $234.94 million. Genius Sports had a negative net margin of 16.67% and a negative return on equity of 13.66%. The business’s revenue was up 37.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. As a group, analysts forecast that Genius Sports will post -0.1 EPS for the current year.

Institutional Investors Weigh In On Genius Sports

A number of institutional investors have recently modified their holdings of GENI. Aster Capital Management DIFC Ltd acquired a new position in Genius Sports in the 3rd quarter worth about $65,000. Strs Ohio grew its holdings in Genius Sports by 178.9% in the third quarter. Strs Ohio now owns 5,300 shares of the company’s stock valued at $66,000 after purchasing an additional 3,400 shares during the period. UMB Bank n.a. purchased a new stake in shares of Genius Sports in the fourth quarter valued at approximately $63,000. Bessemer Group Inc. increased its position in shares of Genius Sports by 1,163.1% in the third quarter. Bessemer Group Inc. now owns 7,010 shares of the company’s stock valued at $87,000 after buying an additional 6,455 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Genius Sports by 106.3% during the 3rd quarter. CWM LLC now owns 8,209 shares of the company’s stock worth $102,000 after buying an additional 4,229 shares during the period. 81.91% of the stock is currently owned by institutional investors and hedge funds.

About Genius Sports

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.