Stifel Nicolaus Has Lowered Expectations for Genius Sports (NYSE:GENI) Stock Price

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

A number of other brokerages also recently issued reports on GENI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Genius Sports in a report on Friday, March 27th. Guggenheim decreased their price objective on shares of Genius Sports from $17.00 to $12.00 and set a “buy” rating for the company in a report on Friday, February 6th. UBS Group restated a “buy” rating on shares of Genius Sports in a report on Wednesday, March 4th. Northland Securities set a $12.00 price target on Genius Sports in a research note on Friday, February 6th. Finally, Oppenheimer dropped their target price on Genius Sports from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Genius Sports has an average rating of “Moderate Buy” and a consensus target price of $12.63.

Genius Sports Stock Down 2.9%

Shares of GENI stock opened at $4.26 on Thursday. The business’s fifty day moving average is $5.70 and its 200 day moving average is $9.07. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -9.87 and a beta of 2.08. Genius Sports has a twelve month low of $4.18 and a twelve month high of $13.73.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($0.08) earnings per share (EPS) 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 the consensus estimate of $234.94 million. During the same quarter in the previous year, the business earned ($0.12) earnings per share. The firm’s revenue was up 37.0% compared to the same quarter last year. Equities research analysts expect that Genius Sports will post -0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GENI. UMB Bank n.a. purchased a new stake in shares of Genius Sports during the fourth quarter worth about $63,000. Aster Capital Management DIFC Ltd bought a new position in shares of Genius Sports in the 3rd quarter worth $65,000. Strs Ohio lifted its stake in shares of Genius Sports by 178.9% during the 3rd quarter. Strs Ohio now owns 5,300 shares of the company’s stock worth $66,000 after purchasing an additional 3,400 shares during the last quarter. Bessemer Group Inc. raised its holdings in Genius Sports by 1,163.1% in the third quarter. Bessemer Group Inc. now owns 7,010 shares of the company’s stock worth $87,000 after purchasing an additional 6,455 shares in the last quarter. Finally, CWM LLC grew its position in shares of Genius Sports by 106.3% in 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 last quarter. 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.