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Genius Sports Limited (GENI) Soars 25.7%: Is Further Upside Left in the Stock?

Zacks Equity Research
·2-min read

Genius Sports Limited GENI shares soared 25.7% in the last trading session to close at $7.30. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1% loss over the past four weeks.

The upswing in shares can be attributed to the news that the National Football League (NFL) and Genius Sports have agreed to a multi-year extension of their existing strategic partnership through the end of the 2027-28 season.

This company is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of -100%. Revenues are expected to be $80.15 million, up 12.7% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For Genius Sports Limited, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GENI going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Genius Sports Limited is part of the Zacks Internet - Content industry. Brightcove BCOV, another stock in the same industry, closed the last trading session 0.2% higher at $4.13. BCOV has returned -5.9% in the past month.

Brightcove's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.02. Compared to the company's year-ago EPS, this represents a change of -120%. Brightcove currently boasts a Zacks Rank of #3 (Hold).

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Genius Sports Limited (GENI) : Free Stock Analysis Report

Brightcove Inc. (BCOV) : Free Stock Analysis Report

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Zacks Investment Research