Genius Sports (NYSE:GENI) Shares Gap Up – What’s Next?

Genius Sports Limited (NYSE:GENI) gapped up before the market opened on Thursday . The stock had previously closed at $4.40, but opened at $4.96. Genius Sports shares last traded at $4.3250, with a volume of 2,278,986 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GENI. Citigroup reduced their target price on Genius Sports from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Northland Securities set a $12.00 price objective on Genius Sports in a research note on Friday, February 6th. Oppenheimer decreased their target price on Genius Sports from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. UBS Group restated a “buy” rating on shares of Genius Sports in a research note on Wednesday, March 4th. Finally, Needham & Company LLC cut their price target on Genius Sports from $16.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, March 5th. 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.50.

Genius Sports Trading Up 8.3%

The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -11.08 and a beta of 1.80. The company has a 50 day moving average price of $4.85 and a 200 day moving average price of $8.05.

Genius Sports (NYSE:GENI) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The firm had revenue of $187.95 million during the quarter, compared to the consensus estimate of $170.60 million. Genius Sports had a negative net margin of 16.67% and a negative return on equity of 13.66%. Genius Sports’s revenue was up 30.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) EPS.

Institutional Investors Weigh In On Genius Sports

Several institutional investors have recently modified their holdings of the business. Parallel Advisors LLC bought a new stake in shares of Genius Sports during the first quarter worth approximately $25,000. Crescent Grove Advisors LLC bought a new position in Genius Sports in the first quarter valued at approximately $322,000. Allspring Global Investments Holdings LLC grew its holdings in Genius Sports by 10.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,557,178 shares of the company’s stock worth $16,150,000 after acquiring an additional 339,792 shares during the period. Bank of New York Mellon Corp grew its holdings in Genius Sports by 9.8% during the 1st quarter. Bank of New York Mellon Corp now owns 2,254,853 shares of the company’s stock worth $9,989,000 after acquiring an additional 201,002 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Genius Sports by 24.1% during the 1st quarter. Principal Financial Group Inc. now owns 16,038 shares of the company’s stock valued at $71,000 after acquiring an additional 3,114 shares during the last quarter. Institutional investors and hedge funds 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.