Goldman Sachs initiated coverage of Genius Sports with a Buy rating and $7.50 price target, implying 40% upside. The company builds and distributes business-to-business data and technology solutions for the sports betting, media, and sports industries, the analyst tells investors in a research note. The firm sees an attractive buying opportunity at current levels over the next 12 months as it expects Genius to continue to compound revenue well into the double-digits as it directly benefits from the “rapid growth” of online sports betting.
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