LeArchitecto/iStock by way of Getty Photographs
Genius Sports activities Restricted (NYSE:GENI) landed a Purchase from Lake Road Capital Markets on Friday.
Analyst Eric Martinuzzi referred to as Genius Sports activities (GENI) a picks and shovels participant within the sector with the London-based firm promoting in-game information and different sticky companies to sportsbooks akin to DraftKings (DKNG) and bet365.
Martinuzzi and staff view the share value collapse in GENI from over $24 in 2021 a case of the Genius child being thrown out with the SPAC water as market sentiment shifted away from cash-burning story shares in favor of bigger cap, cash-generating names.
“Genius is on the cusp of turning free money stream optimistic and is rising quicker than its higher-valued friends. We additionally really feel it has higher rights relationships— NFL, English Premier League — and presents quicker revenue development than information licensing competitor Sportradar. We anticipate Genius exhibiting elementary outperformance pushed by a decade-plus development in U.S. sports activities betting as extra states legalize on-line playing.”
Alongside the Purchase score, Lake Road additionally tagged Genius Sports activities (GENI) with a value goal of $7, which is effectively above the 52-week excessive of $5.82.