Citizens JMP analyst Jordan Bender raised the firm’s price target on Genius Sports (GENI) to $13 from $12 and keeps an Outperform rating on the shares. The core betting business should see upside to estimates in the coming years as more wagering shifts to in-play betting, where the company generates a higher revenue rate compared to pre-game, the analyst tells investors in a research note. The firm estimates in-play gaming revenue will increase at a 24% compound annual growth rate through 2030, and thinks revenue will benefit from its ability to take more price in the long-term.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GENI:
- Nevada reports May statewide gaming win down 2.18% to $1.29B
- NJ state budget proposes tax hike on online betting, NJ.com reports
- Genius Sports Limited: Strategic Growth and NFL Partnership Drive Buy Rating
- Genius Sports management to meet with Citizens JMP
- Private Markets: Ramp raises $200M, Teamworks secures $235M