Genius Sports (NYSE:GENI) Price Target Cut to $5.00 by Analysts at Stifel Nicolaus

Genius Sports (NYSE:GENI) had its target price decreased by Stifel Nicolaus from $7.00 to $5.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 17.51% from the company’s previous close.

A number of other research firms also recently issued reports on GENI. Needham & Company LLC decreased their target price on shares of Genius Sports from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Citigroup reduced their price objective on Genius Sports from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. B. Riley Financial reissued a “buy” rating on shares of Genius Sports in a report on Friday, February 6th. Northland Securities set a $12.00 target price on Genius Sports in a research note on Friday, February 6th. Finally, Oppenheimer decreased their price target on Genius Sports from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Three investment 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 company. According to data from MarketBeat.com, Genius Sports currently has a consensus rating of “Moderate Buy” and an average target price of $12.63.

Genius Sports Stock Down 2.9%

Shares of NYSE:GENI opened at $4.26 on Thursday. Genius Sports has a 52-week low of $4.18 and a 52-week high of $13.73. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -9.87 and a beta of 2.08. The business has a 50-day moving average price of $5.70 and a 200-day moving average price of $9.07.

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

Hedge Funds Weigh In On Genius Sports

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its holdings in Genius Sports by 79.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,293,172 shares of the company’s stock worth $16,009,000 after buying an additional 572,607 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Genius Sports by 395.5% during the third quarter. New York State Common Retirement Fund now owns 979,000 shares of the company’s stock worth $12,120,000 after purchasing an additional 781,411 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Genius Sports by 4.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,006,277 shares of the company’s stock valued at $36,316,000 after purchasing an additional 117,591 shares during the last quarter. Penn Capital Management Company LLC boosted its holdings in shares of Genius Sports by 2,593.7% in the 3rd quarter. Penn Capital Management Company LLC now owns 1,219,711 shares of the company’s stock valued at $15,116,000 after buying an additional 1,174,431 shares in the last quarter. Finally, Stephens Investment Management Group LLC raised its stake in Genius Sports by 341.6% during the 3rd quarter. Stephens Investment Management Group LLC now owns 3,330,469 shares of the company’s stock worth $41,231,000 after acquiring an additional 2,576,329 shares in the last quarter. 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.