{"id":304426,"date":"2023-12-21T16:42:42","date_gmt":"2023-12-21T22:42:42","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=304426"},"modified":"2023-12-26T11:45:16","modified_gmt":"2023-12-26T17:45:16","slug":"genius-sports-rallies-on-new-outperform-rating","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/genius-sports-rallies-on-new-outperform-rating\/","title":{"rendered":"Genius Sports Tagged with Outperform Rating at Macquarie"},"content":{"rendered":"

Sports betting data provider Genius Sports (NYSE: GENI) closed modestly higher Thursday on above-average volume after the stock earned some sell-side praise.<\/p>\n

\"Genius\"
A slide from a Genius Sports investor presentation. The stock earned an “outperform” rating from Macquarie on Thursday. (Image: Genius Sports)<\/figcaption><\/figure>\n

In a new report to clients, Macquarie analyst Chad Beynon initiated coverage of the stock with an \u201coutperform\u201d rating and a price target of $11, implying upside of 77.4% from Thursday\u2019s close at $6.20. The analyst believes Genius Sports \u201csits at the tech epicenter of a powerful NFL rising tide.\u201d<\/p>\n

We think Genius Sports has been and will continue to be a critical driver of sports fan engagement and values for sports leagues\/teams, which have doubled in the past five years,\u201d<\/strong> wrote Beynon. \u201cAs a result of the importance of GENI’s player stats, artificial intelligence (AI) data and the ability to bring this to life, we believe GENI shares can also 2x in value over the next 1-2 years.\u201d<\/strong><\/p><\/blockquote>\n

Somewhat quietly, Genius has been one of this year\u2019s best-performing sports wagering equities, as highlighted by a 73.67% gain. That includes a 16.32% pop over the past month.<\/p>\n

Genius Sports Essential<\/h2>\n

The data and technology provided by Genius are crucial in advancing<\/a> the domestic sports wagering industry, and essential at a time when more operators are leveraging exotic wagers to entice clients.<\/p>\n

\n

Some analysts have described Genius as a \u201cpicks and shovels player\u201d that markets live betting data and \u201cother sticky services\u201d to global sportsbook operators, including Bet365 and DraftKings (NASDAQ: DKNG). Some analysts believe the stock could benefit from bettors\u2019 increasing preference for in-game or live wagers<\/a> over pregame investments.<\/p>\n<\/div>\n

Amid the expected growth of the North American online sports betting (OSB) market, and helped by its relationship with the NFL, Genius Sports could be a long-term winner among sports wagering equities.<\/p>\n

\u201cWe expect the North America OSB market to grow at a CAGR of 24% through 2026E reaching $22bn in gross gaming revenue (GGR). We think GENI can grow its North American revs at a faster clip on increased event utilization, new products, and growing in-game betting. In 2021, GENI became the exclusive distributor of NFL official data, which is key for betting revs, but should yield further advertising upside,\u201d added Beynon.<\/p>\n

Bettors\u2019 Habits, Predictable Revenue Helping Genius<\/h2>\n

Sportsbook operators, many of whom are Genius clients, are increasingly enticing clients with in-game bets and same-game parlays<\/a>. Those long odds, high-hold wagers require technology, and Genius has it.<\/p>\n

\n

As a result of bettors\u2019 increasing penchant for lottery ticket-style wagers and other factors, Genius has one of the more predictable revenue streams in the gaming industry, a space usually not known for predictability.<\/p>\n<\/div>\n

\u201cGiven the predictable nature of GENI’s business, we see a clear line of path to free cash flow of $70 million-plus in 2025E and $120 million-plus in 2026E, with significant upside coming from a faster shift to NFL in-play betting and incremental advertising revs driven by swift adoption of new products like BetVision,\u201d concluded Beynon.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sports betting data provider Genius Sports (NYSE: GENI) closed modestly higher Thursday on above-average volume after the stock earned some sell-side praise. In a new report to clients, Macquarie analyst Chad Beynon initiated coverage of the stock with an \u201coutperform\u201d rating and a price target of $11, implying upside of 77.4% from Thursday\u2019s close at […]<\/p>\n","protected":false},"author":46,"featured_media":236627,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,1074,16693],"tags":[81903,80968,82041],"acf":[],"yoast_head":"\nGenius Sports Rallies On New Outperform Rating<\/title>\n<meta name=\"description\" content=\"Genius Sports Tagged with Outperform Rating at Macquarie.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/genius-sports-rallies-on-new-outperform-rating\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Genius Sports Rallies On New Outperform Rating\" \/>\n<meta property=\"og:description\" content=\"Genius Sports Tagged with Outperform Rating at Macquarie.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/genius-sports-rallies-on-new-outperform-rating\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-21T22:42:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-26T17:45:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/genius.png\" \/>\n\t<meta property=\"og:image:width\" content=\"2048\" \/>\n\t<meta property=\"og:image:height\" content=\"1152\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/genius-sports-rallies-on-new-outperform-rating\/\",\"url\":\"https:\/\/www.casino.org\/news\/genius-sports-rallies-on-new-outperform-rating\/\",\"name\":\"Genius Sports Rallies On New Outperform Rating\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/genius-sports-rallies-on-new-outperform-rating\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/genius-sports-rallies-on-new-outperform-rating\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/genius.png\",\"datePublished\":\"2023-12-21T22:42:42+00:00\",\"dateModified\":\"2023-12-26T17:45:16+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Genius Sports Tagged with Outperform Rating at Macquarie.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/genius-sports-rallies-on-new-outperform-rating\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/genius-sports-rallies-on-new-outperform-rating\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/genius-sports-rallies-on-new-outperform-rating\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/genius.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/genius.png\",\"width\":2048,\"height\":1152,\"caption\":\"A slide from a Genius Sports investor presentation. 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