Genius Sports Limited (GENI – Research Report), 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.
Bernie McTernan has given his Buy rating due to a combination of factors including Genius Sports Limited’s strong financial performance and strategic initiatives. The company reported better than expected adjusted EBITDA for the first quarter, which was driven by improved margins despite revenue being in line with expectations.
Additionally, the core betting technology revenue showed a significant year-over-year growth of 20%, primarily due to price increases for existing customers. The approval of a $100 million buyback program by GENI’s board further underscores the company’s robust financial standing, contributing to McTernan’s positive outlook on the stock.
According to TipRanks, McTernan is a 4-star analyst with an average return of 3.3% and a 48.62% success rate. McTernan covers the Consumer Cyclical sector, focusing on stocks such as DraftKings, thredUP, and eBay.