Genius Sports (NYSE:GENI) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Genius Sports (NYSE:GENI) from a sell rating to a strong sell rating in a research note issued to investors on Sunday.

A number of other research firms also recently commented on GENI. Roth Capital set a $10.00 target price on Genius Sports in a research report on Friday, May 8th. Freedom Capital upgraded Genius Sports to a “strong-buy” rating in a research report on Monday, July 20th. Truist Financial cut their price target on Genius Sports from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. BTIG Research decreased their price objective on shares of Genius Sports from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Genius Sports in a research note on Monday, May 11th. They issued a “buy” rating and a $10.00 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Genius Sports presently has an average rating of “Moderate Buy” and a consensus target price of $11.19.

Genius Sports Trading Up 0.2%

Shares of Genius Sports stock opened at $7.28 on Friday. The company has a 50-day moving average of $6.22 and a two-hundred day moving average of $6.10. Genius Sports has a 12-month low of $3.83 and a 12-month high of $13.73. The stock has a market cap of $1.79 billion, a PE ratio of -11.94 and a beta of 1.91.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.12). Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.The firm had revenue of $187.95 million for the quarter, compared to analysts’ expectations of $170.60 million. During the same period last year, the firm earned ($0.03) EPS. Genius Sports’s revenue was up 30.5% compared to the same quarter last year. On average, sell-side analysts forecast that Genius Sports will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its position in Genius Sports by 17.6% during the 1st quarter. Royal Bank of Canada now owns 44,339 shares of the company’s stock worth $444,000 after acquiring an additional 6,623 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Genius Sports by 10.0% during the second quarter. Cetera Investment Advisers now owns 15,288 shares of the company’s stock worth $159,000 after purchasing an additional 1,388 shares in the last quarter. Prudential Financial Inc. purchased a new position in shares of Genius Sports in the second quarter valued at $266,000. Invesco Ltd. boosted its stake in shares of Genius Sports by 3,584.2% in the second quarter. Invesco Ltd. now owns 3,291,635 shares of the company’s stock valued at $34,233,000 after purchasing an additional 3,202,290 shares during the period. Finally, Frontier Capital Management Co. LLC acquired a new stake in Genius Sports during the 2nd quarter valued at $14,220,000. Hedge funds and other institutional investors 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.