Genius Sports price target raised to $13 from $12 at Citizens JMP

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.