Needham analyst Bernie McTernan maintained a Buy rating on Genius Sports Limited (GENI – Research Report) today and set a price target of $13.00.
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Bernie McTernan has given his Buy rating due to a combination of factors surrounding Genius Sports Limited’s recent strategic developments. The extension of their relationship with the NFL until the 2030 Super Bowl is a significant factor, as it includes crucial data rights and BetVision, which offers streaming and exclusive advertising inventory. This extension not only enhances GENI’s visibility into their cost structure for an additional two seasons but also strengthens their advertising capabilities.
Moreover, the exclusive advertising inventory gained through the BetVision extension is particularly noteworthy, especially considering GENI’s recent initiatives such as an advertising upfront event and integration with iSpot for measurement. These developments are seen as laying the groundwork for the long-term success of FanHub, aligning with the company’s guidance for 2025 and supporting the bullish outlook for GENI’s future performance.
In another report released yesterday, Lake Street also maintained a Buy rating on the stock with a $11.00 price target.
Based on the recent corporate insider activity of 21 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.