We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Genius Sports (GENI) Up 25.7% on NFL Deal: Should You Hold?
Read MoreHide Full Article
Genius Sports Limited (GENI - Free Report) recently announced that it has struck a deal to extend its exclusive partnership with the National Football League (“NFL”) for an additional five seasons. This makes Genius Sports the only sports betting platform to distribute and use NFL's official live gaming data. This move is likely to solidify the company’s position as the go-to platform for all American football fans for placing bets and following live statistics.
This sparked a 25.7% surge in its stock’s price, reversing a pre-market decline.
GENI is a player in the Internet content sector that develops and sells tech-intensive products and services to the sports, sports betting and sports media industries.
Founded in 2016 following a merger between Betgenius, a technology and data supplier to the betting industry, and SportingPulse International, Genius Sports is part of the Zacks Internet – Content industry.
The Zacks Consensus Estimate for the company’s 2023 sales indicates 17.6% growth from the year-ago reported number. The consensus mark for the year’s earnings suggests a solid 33.3% year-over-year growth and an even better 36.5% for next year. The current-year earnings for industry peers like Shutterstock, Inc. (SSTK - Free Report) and Brightcove Inc. , both of which also carry a Zacks Rank #3, are expected to grow a modest 6.2% and decline 108.7%, respectively.
What also makes Genius Sports a good investment case is its low price entry point and recent sales and earnings momentum. In 2023, its share price has been on a fast move northward, with a surge of 104.5% year to date. In comparison, share prices of Shutterstock and Brightcove have fallen 6.3% and 21%, respectively.
Bottom Line
With this new football deal and solid revenue and earnings numbers in the recent past to back it up, Genius Sports looks set to outperform its industry and competitors in the months to come.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Shutterstock
Genius Sports (GENI) Up 25.7% on NFL Deal: Should You Hold?
Genius Sports Limited (GENI - Free Report) recently announced that it has struck a deal to extend its exclusive partnership with the National Football League (“NFL”) for an additional five seasons. This makes Genius Sports the only sports betting platform to distribute and use NFL's official live gaming data. This move is likely to solidify the company’s position as the go-to platform for all American football fans for placing bets and following live statistics.
This sparked a 25.7% surge in its stock’s price, reversing a pre-market decline.
GENI is a player in the Internet content sector that develops and sells tech-intensive products and services to the sports, sports betting and sports media industries.
Founded in 2016 following a merger between Betgenius, a technology and data supplier to the betting industry, and SportingPulse International, Genius Sports is part of the Zacks Internet – Content industry.
GENI currently carries a current Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for the company’s 2023 sales indicates 17.6% growth from the year-ago reported number. The consensus mark for the year’s earnings suggests a solid 33.3% year-over-year growth and an even better 36.5% for next year. The current-year earnings for industry peers like Shutterstock, Inc. (SSTK - Free Report) and Brightcove Inc. , both of which also carry a Zacks Rank #3, are expected to grow a modest 6.2% and decline 108.7%, respectively.
What also makes Genius Sports a good investment case is its low price entry point and recent sales and earnings momentum. In 2023, its share price has been on a fast move northward, with a surge of 104.5% year to date. In comparison, share prices of Shutterstock and Brightcove have fallen 6.3% and 21%, respectively.
Bottom Line
With this new football deal and solid revenue and earnings numbers in the recent past to back it up, Genius Sports looks set to outperform its industry and competitors in the months to come.