Benchmark Co. analyst Mike Hickey reiterated a Buy rating on Genius Sports Limited (GENI – Research Report) today and set a price target of $12.00.
Mike Hickey has given his Buy rating due to a combination of factors that highlight the stability and growth potential of Genius Sports Limited. The company has demonstrated a robust revenue model with a significant portion of its income being contractual, which reduces its exposure to market volatility. This stability was evident even during challenging periods for the industry, such as the NFL season, where Genius Sports still managed to achieve strong revenue and AEBITDA growth.
Furthermore, the company’s expansion into newly regulated markets and the growth of in-game betting, particularly in the U.S., are expected to drive significant revenue and AEBITDA increases. Additionally, the monetization of their FanHub product and improved pricing in sportsbook contracts are seen as key growth catalysts. With a disciplined approach to capital allocation and strategic acquisitions, Genius Sports is well-positioned for sustained growth, leading to a reiterated Buy rating and a $12 price target.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GENI in relation to earlier this year.