Oppenheimer analyst Jed Kelly lowered the firm’s price target on Genius Sports (GENI) to $9 from $11 and keeps an Outperform rating on the shares. The firm notes the company delivered a solid Q1 Revenue/EBITDA beat, driven by accelerating betting services revenue, and incorporating Legend Revenue/EBITDA of $185M/$90M into full year guidance, now $990M-$1.01B/$270-$280M. Oppenheimer sees catalysts building into WorldCup/NFL-Kickoff, with Street likely raising back-half Media revenue up on PMs, O&O inventory, and iGaming to better justify managements strategy and generate some multiple expansion.
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Read More on GENI:
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