Genius Sports Shares Rise After Goldman Sachs Upgrades Rating
Shares of Genius Sports (GENI) rose 12.19% to $7.27 on Monday following a 'Buy' rating and price target increase from Goldman Sachs, which set the stock's potential at $9.50—30% higher than its closing price. The firm cited strong growth prospects in online sports betting and expanding revenue streams beyond gambling as key drivers for future performance. Other analysts had mixed reactions: Stifel raised its price target to $7 but maintained a 'Hold' rating, while Wells Fargo upgraded the stock with a new buy recommendation despite lowering its price target. Genius Sports is expected to report Q2 earnings on August 6, projecting revenue of $185 million and adjusted EBITDA of $45 million for the quarter. Institutional investor confidence in GENI has weakened; hedge fund holdings dropped by nearly half during Q1 as concerns over rising costs and competition grew.
Tickers: $GENI
Topics: analyst upgrade/downgrade price target change stock price movement