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Genius Sports Restricted (NYSE:GENI) landed a Acquire from Lake Street Capital Markets on Friday.
Analyst Eric Martinuzzi referred to as Genius Sports (GENI) a picks and shovels player in the sector with the London-primarily based business promoting in-game information and other sticky solutions to sportsbooks such as DraftKings (DKNG) and bet365.
Martinuzzi and group view the share price tag collapse in GENI from more than $24 in 2021 a case of the Genius infant becoming 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 cost-free money flow optimistic and is developing more rapidly than its larger-valued peers. We also really feel it has far better rights relationships— NFL, English Premier League — and presents more rapidly 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 a lot more states legalize on the internet gambling.”
Alongside the Acquire rating, Lake Street also tagged Genius Sports (GENI) with a price tag target of $7, which is nicely above the 52-week higher of $five.82.
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