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Genius Sports Restricted (NYSE:GENI) landed a Invest in from Lake Street Capital Markets on Friday.
Analyst Eric Martinuzzi named Genius Sports (GENI) a picks and shovels player in the sector with the London-primarily based firm promoting in-game information and other sticky solutions to sportsbooks such as DraftKings (DKNG) and bet365.
Martinuzzi and group view the share cost collapse in GENI from more than $24 in 2021 a case of the Genius child getting thrown out with the SPAC water as market place sentiment shifted away from money-burning story stocks in favor of bigger cap, money-producing names.
“Genius is on the cusp of turning totally free money flow optimistic and is developing more quickly than its greater-valued peers. We also really feel it has improved rights relationships— NFL, English Premier League — and presents more quickly profit development than information licensing competitor Sportradar. We anticipate Genius displaying basic outperformance driven by a decade-plus development in U.S. sports betting as extra states legalize on the internet gambling.”
Alongside the Invest in rating, Lake Street also tagged Genius Sports (GENI) with a cost target of $7, which is properly above the 52-week higher of $five.82.