{"id":313445,"date":"2024-03-07T16:58:58","date_gmt":"2024-03-07T22:58:58","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=313445"},"modified":"2024-03-08T10:42:12","modified_gmt":"2024-03-08T16:42:12","slug":"genius-sports-has-impressive-growth-outlook-says-analyst","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/genius-sports-has-impressive-growth-outlook-says-analyst\/","title":{"rendered":"Genius Sports Has Runway for Growth, Says Analyst"},"content":{"rendered":"

Coming off solid fourth-quarter results, one analyst says Genius Sports (NYSE: GENI) could have multiple growth tailwinds this year and the potential to generate free cash flow.<\/p>\n

\"Genius
Genius Sports appears on the screens of the NYSE after it went public. An analyst says the company has significant outlets for long-term growth. (Image: Genius Sports)<\/figcaption><\/figure>\n

While the stock slid 5.84% Thursday after the sports betting data provider said fourth-quarter revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA) beat consensus forecasts by 1% and 7%, respectively, some analysts remain constructive on the name.<\/p>\n

Although a +24% YoY increase in data rights may have taken the Street by surprise given its fixed but non-linear nature, 4Q’s NFL trends\/data as it relates to hold, live betting and streaming are arguably trending above expectations, setting the stage for a ramp up and upside to estimates in 2H24, GENI’s seasonally strong period,\u201d<\/strong> wrote Macquarie analyst Chad Beynon in a note to clients.<\/p><\/blockquote>\n

Benyon rates Genius \u201coutperform\u201d with a price target of $11<\/a>, implying upside of 74.8% from Thursday\u2019s close at $6.29.<\/p>\n

Live Betting Catalyst for Genius Sports<\/h2>\n

In-game wagering or live betting is increasingly popular among U.S. bettors, and that creates new technological demands for sportsbook operators that want to capitalize on that profitable trend.<\/p>\n

\n

That\u2019s positive for Genius Sports and rival Sportradar (NASDAQ: SRAD), which operate as a de facto duopoly for the sports betting data market. Some analysts believe both companies could benefit from bettors\u2019 increasing preference for in-game or live wagers<\/a> over pregame investments.<\/p>\n<\/div>\n

\u201cWe see continued momentum for GENI coming from legalization\/hold, but also a faster transition to more live betting, spurred by continued innovation from new products like BetVision,\u201d added Beynon.<\/p>\n

Benyon observed that last year, in-game betting represented about 20% of the gross gaming revenue (GGR) realized on NFL games. Profit margins on those bets surged 400 basis points in just two years. In what could be a long-term positive for Genius, there\u2019s massive room for growth in live betting, because in mature markets outside the U.S., in-game bets account for up to 80% (or more) of GGR.<\/p>\n

Other Catalysts for Genius Sports<\/h2>\n

Genius is arguably a catalyst-rich story, thanks to factors including margin expansion, in-game wagering, internal growth, and the possibility of mergers and acquisitions, according to Beynon. He didn\u2019t say if the gaming technology company would be a buyer or seller if industry consolidation perks up.<\/p>\n

Increased legalization of online sports betting<\/a> across the U.S. and the status of Genius as a deeply discounted stock could also be creators of upside for the shares.<\/strong><\/p>\n

\u201cGENI is positioned to outpace the overall market, unlocking significant operating leverage in the process. Despite our estimated 3-year (2023E-26E) revenue\/EBITDA compound annual growth rates of 16%\/48%, GENI trades at a significant discount to other growth peers,\u201d concluded Beynon.<\/p>\n","protected":false},"excerpt":{"rendered":"

Coming off solid fourth-quarter results, one analyst says Genius Sports (NYSE: GENI) could have multiple growth tailwinds this year and the potential to generate free cash flow. While the stock slid 5.84% Thursday after the sports betting data provider said fourth-quarter revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA) beat consensus forecasts by […]<\/p>\n","protected":false},"author":46,"featured_media":219241,"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 Has Impressive Growth Outlook, Says Analyst<\/title>\n<meta name=\"description\" content=\"Genius Sports Has Runway for Growth, Says Analyst.\" \/>\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-has-impressive-growth-outlook-says-analyst\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Genius Sports Has Impressive Growth Outlook, Says Analyst\" \/>\n<meta property=\"og:description\" content=\"Genius Sports Has Runway for Growth, Says Analyst.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/genius-sports-has-impressive-growth-outlook-says-analyst\/\" \/>\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=\"2024-03-07T22:58:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-08T16:42:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/Genius-Sports.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\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-has-impressive-growth-outlook-says-analyst\/\",\"url\":\"https:\/\/www.casino.org\/news\/genius-sports-has-impressive-growth-outlook-says-analyst\/\",\"name\":\"Genius Sports Has Impressive Growth Outlook, Says Analyst\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/genius-sports-has-impressive-growth-outlook-says-analyst\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/genius-sports-has-impressive-growth-outlook-says-analyst\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/Genius-Sports.jpg\",\"datePublished\":\"2024-03-07T22:58:58+00:00\",\"dateModified\":\"2024-03-08T16:42:12+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Genius Sports Has Runway for Growth, Says Analyst.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/genius-sports-has-impressive-growth-outlook-says-analyst\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/genius-sports-has-impressive-growth-outlook-says-analyst\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/genius-sports-has-impressive-growth-outlook-says-analyst\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/Genius-Sports.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/Genius-Sports.jpg\",\"width\":1500,\"height\":1000,\"caption\":\"Genius Sports appears on the screens of the NYSE after it went public. 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