Genius Sports (NYSE:GENI) Posts Earnings Results, Beats Expectations By $0.06 EPS

Genius Sports (NYSE:GENI) issued its quarterly earnings data on Tuesday. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06, Briefing.com reports. Genius Sports had a negative net margin of 21.93% and a negative return on equity of 15.30%. The business had revenue of $120.20 million for the quarter, compared to analyst estimates of $118.94 million. During the same period last year, the business posted ($0.06) earnings per share. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. Genius Sports updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

Genius Sports Stock Up 6.2 %

Shares of GENI stock traded up $0.59 on Wednesday, reaching $10.06. The stock had a trading volume of 2,994,018 shares, compared to its average volume of 2,354,919. The firm’s 50-day moving average is $7.53 and its two-hundred day moving average is $6.52. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of -22.67 and a beta of 1.98. Genius Sports has a 12 month low of $4.90 and a 12 month high of $10.08.

Analyst Ratings Changes

A number of equities research analysts recently commented on GENI shares. Benchmark restated a “buy” rating and set a $10.00 price objective on shares of Genius Sports in a report on Friday, October 11th. B. Riley boosted their price target on shares of Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Needham & Company LLC reissued a “buy” rating and set a $9.00 price target on shares of Genius Sports in a research report on Tuesday. Oppenheimer boosted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Macquarie cut their price target on shares of Genius Sports from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday, July 18th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Genius Sports currently has an average rating of “Buy” and an average target price of $9.65.

About Genius Sports

Genius Sports Limited engages in the development and sale of 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.