Genius Sports Limited, the Communication Services sector company, was revisited by a Wall Street analyst today. Analyst Bernie McTernan from Needham maintained a Buy rating on the stock and has a $13.00 price target.
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Bernie McTernan’s rating is based on Genius Sports Limited’s improved financial outlook for the second half of the year, which is expected to surpass market expectations. The company has raised its full-year guidance, projecting a notable increase in both revenue and adjusted EBITDA, driven by strong performance in its Betting Technology and Media Technology segments.
Furthermore, Genius Sports Limited anticipates significant growth in its Betting and Media revenues, with projections exceeding previous estimates. The momentum in the company’s FanHub and the successful sale of all NFL BetVision ad inventory for the 2025 season further bolster the positive outlook. Despite the slight miss in second-quarter adjusted EBITDA, the strategic advancements and leadership changes, such as the appointment of a new CFO, contribute to McTernan’s optimistic Buy rating.