Citigroup Cuts Genius Sports (NYSE:GENI) Price Target to $9.00

Genius Sports (NYSE:GENI) had its price objective reduced by Citigroup from $11.00 to $9.00 in a research note released on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on GENI. The Goldman Sachs Group increased their target price on shares of Genius Sports from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Benchmark restated a “buy” rating on shares of Genius Sports in a research note on Thursday, March 5th. Wells Fargo & Company reduced their price objective on Genius Sports from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, March 5th. Northland Securities set a $12.00 target price on Genius Sports in a report on Friday, February 6th. Finally, Oppenheimer cut their price target on Genius Sports from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. 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 issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.74.

Genius Sports Trading Down 0.1%

GENI opened at $4.55 on Thursday. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -10.59 and a beta of 2.08. The stock’s 50-day moving average price is $6.01 and its 200 day moving average price is $9.24. Genius Sports has a 12-month low of $4.19 and a 12-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 analysts’ consensus estimates of $0.02 by ($0.10). The business had revenue of $240.50 million for the quarter, compared to analysts’ expectations of $234.94 million. Genius Sports had a negative return on equity of 13.66% and a negative net margin of 16.67%.The firm’s revenue for the quarter was up 37.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.12) earnings per share. On average, research analysts forecast that Genius Sports will post -0.1 earnings per share for the current year.

Institutional Trading of Genius Sports

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC raised its stake in shares of Genius Sports by 9.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 14,131 shares of the company’s stock worth $175,000 after buying an additional 1,177 shares in the last quarter. Prelude Capital Management LLC raised its position in Genius Sports by 1.3% in the third quarter. Prelude Capital Management LLC now owns 92,529 shares of the company’s stock worth $1,146,000 after acquiring an additional 1,181 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Genius Sports by 10.0% in the second quarter. Cetera Investment Advisers now owns 15,288 shares of the company’s stock valued at $159,000 after acquiring an additional 1,388 shares during the period. SkyView Investment Advisors LLC boosted its position in shares of Genius Sports by 2.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 77,289 shares of the company’s stock worth $802,000 after purchasing an additional 1,512 shares in the last quarter. Finally, Main Management ETF Advisors LLC grew its stake in shares of Genius Sports by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 163,647 shares of the company’s stock worth $1,803,000 after purchasing an additional 1,672 shares during the period. 81.91% of the stock is owned by institutional investors and hedge funds.

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.