In a report released yesterday, Clark Lampen from BTIG maintained a Buy rating on Genius Sports Limited (GENI – Research Report), with a price target of $11.00.
Clark Lampen has given his Buy rating due to a combination of factors including Genius Sports Limited’s strong revenue growth and promising future outlook. The company exceeded expectations with a 22% revenue growth, surpassing both internal and consensus forecasts. This growth is largely driven by significant contributions from their top US sportsbook customers, indicating a solid foundation for continued expansion.
Additionally, Genius Sports is strategically positioned with their Media Tech ventures, such as FANHub and BetVision, which are expected to drive further growth and higher margins. The company’s financial health is robust, with a healthy cash balance and no debt, allowing them to capitalize on upcoming profitability improvements. Furthermore, the potential for strategic acquisitions and share repurchase options adds to the positive outlook, making Genius Sports a compelling investment opportunity.
In another report released yesterday, Craig-Hallum also reiterated a Buy rating on the stock with a $15.00 price target.
Based on the recent corporate insider activity of 22 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.