Genius Sports Ltd. (GENI) PT Raised to $11 at Benchmark

Benchmark analyst Mike Hickey raised the price target on Genius Sports Ltd. (NYSE: GENI) to $11.00 (from $10.00) while maintaining a Buy rating.

The analyst commented: "Genius delivered strong Q3 results with substantial revenue and profitability growth, alongside expanding margins. The company has now renewed contracts with all major U.S. sports clients, alleviating concerns over contract extensions. Notably, they reiterated robust Q4 guidance, projecting 38% revenue growth, 168% AEBITDA growth, and nearly 9 percentage points of margin expansion. This guidance is especially impressive given the challenging hold environment for NFL games early in Q4, highlighting Genius’ resilience and suggesting that renewed contracts may further boost results in 2025 under a more stable win margin environment. Genius continues to advance its technology solutions and products, strengthening relationships with leagues and sports book
operators and driving growth in areas like in-game betting, where they achieve a 5-6x take rate, marking a substantial growth opportunity. Confident in its 2025 growth potential and ongoing margin expansion, we are raising our price target to $11 and reiterate our Buy rating; GENI remains a Benchmark Top Idea."

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