Q3 2023 EPS Estimates for Genius Sports Limited (NYSE:GENI) Lifted by Analyst

Posted by Defense World Staff on Aug 10th, 2023

Genius Sports Limited (NYSE:GENI – Free Report) – Stock analysts at B. Riley upped their Q3 2023 earnings estimates for Genius Sports in a research report issued on Tuesday, August 8th. B. Riley analyst D. Bain now forecasts that the company will post earnings of ($0.01) per share for the quarter, up from their prior forecast of ($0.04). The consensus estimate for Genius Sports’ current full-year earnings is ($0.25) per share. B. Riley also issued estimates for Genius Sports’ Q4 2023 earnings at ($0.03) EPS, FY2023 earnings at ($0.21) EPS, Q1 2024 earnings at ($0.04) EPS, Q2 2024 earnings at ($0.01) EPS, Q3 2024 earnings at $0.01 EPS, Q4 2024 earnings at $0.01 EPS and FY2024 earnings at ($0.03) EPS.

A number of other research firms have also recently weighed in on GENI. Lake Street Capital lifted their price objective on shares of Genius Sports from $7.00 to $8.50 in a report on Tuesday. BTIG Research lifted their price objective on shares of Genius Sports from $6.00 to $9.00 in a report on Tuesday, July 11th. Benchmark lifted their price objective on shares of Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday. JMP Securities boosted their target price on shares of Genius Sports from $8.00 to $9.00 in a research note on Thursday, July 13th. Finally, Needham & Company LLC boosted their target price on shares of Genius Sports from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, Genius Sports has an average rating of “Buy” and an average target price of $9.28.

Read Our Latest Analysis on Genius Sports

Genius Sports Price Performance

NYSE GENI opened at $6.41 on Thursday. The company has a market capitalization of $1.41 billion, a PE ratio of -7.63 and a beta of 1.93. The company has a fifty day moving average of $6.69 and a 200 day moving average of $5.43. Genius Sports has a 1 year low of $3.12 and a 1 year high of $8.45.

Genius Sports (NYSE:GENI – Get Free Report) last posted its earnings results on Monday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The company had revenue of $86.90 million during the quarter, compared to the consensus estimate of $80.57 million. Genius Sports had a negative net margin of 46.77% and a negative return on equity of 14.07%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.02) earnings per share.

Institutional Trading of Genius Sports

Large investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. boosted its holdings in Genius Sports by 37.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 64,414 shares of the company’s stock valued at $296,000 after purchasing an additional 17,455 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Genius Sports by 28.6% in the 1st quarter. Bank of New York Mellon Corp now owns 981,490 shares of the company’s stock valued at $4,515,000 after purchasing an additional 218,044 shares during the last quarter. US Bancorp DE acquired a new position in Genius Sports in the 1st quarter valued at about $69,000. Bridgefront Capital LLC acquired a new position in Genius Sports in the 1st quarter valued at about $65,000. Finally, UBS Group AG boosted its holdings in Genius Sports by 26.1% in the 1st quarter. UBS Group AG now owns 526,614 shares of the company’s stock valued at $2,422,000 after purchasing an additional 108,874 shares during the last quarter. Hedge funds and other institutional investors own 39.40% of the company’s stock.

About Genius Sports

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Genius Sports Limited develops and sells technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.