{"id":329273,"date":"2024-08-30T18:05:35","date_gmt":"2024-08-30T23:05:35","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=329273"},"modified":"2024-08-30T18:05:35","modified_gmt":"2024-08-30T23:05:35","slug":"genius-sports-has-upside-levers-says-analyst","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/genius-sports-has-upside-levers-says-analyst\/","title":{"rendered":"Genius Sports Has Upside Levers, Says Analyst"},"content":{"rendered":"

Somewhat quietly, Genius Sports (NYSE: GENI) is one of this year\u2019s best-performing sports wagering stocks as highlighted by a year-to-date gain of 23.30%. That includes a 12.72% rally over the past month.<\/p>\n

\"Genius\"
A slide from a Genius Sports investor presentation. An analyst says the stock could build already considerable 2024 upside. (Image: Genius Sports)<\/figcaption><\/figure>\n

Some analysts believe the sports betting data provider has more upside in store for investors. In a note to clients today, B. Riley analyst David Bain reiterated a \u201cbuy\u201d rating on Genius with a $10 price target, implying upside of 31.2% from today\u2019s close.<\/p>\n

On its 2Q24 earnings call, GENI stated it expects 20%-plus revenue growth for the \u2018foreseeable future,\u2019\u201d wrote Bain. \u201cHowever, calendar year (CY) 25E consensus sales growth is 14%. 20% growth from CY24E estimates implies an additional $29M of CY25E revenue versus consensus. Using GENI\u2019s general midpoint flow-through guidance implies an additional $12M of EBITDA, 11% higher than CY25E consensus EBITDA estimates.\u201d<\/p><\/blockquote>\n

With the arrival of football season, Genius could further be in focus because it is the exclusive provider of the NFL\u2019s real-time<\/a>, official play-by-play statistics, which are in high demand by sportsbook operators because football is the most wagered on sport in the US.<\/p>\n

Genius Sports Could Notch Near-Term Upside<\/h2>\n

The arrival of football season is seen as a boon for a variety of gaming companies and while Genius is a business-to-business firm, expectations that bettors will wager more than ever before<\/a> on the NFL could be a legitimate catalyst for the already high-flying stock.<\/p>\n

\n

Expectations that in-game or live betting will surge this football season could also be a spark for Genius. There\u2019s credibility to that thesis as highlighted by news out earlier this week that DraftKings (NASDAQ: DKNG) is acquiring Simplebet<\/a> in an effort to boost its live micro-betting offerings.<\/p>\n<\/div>\n

\u201cWe estimate a 500 bps mix shift to U.S. OSB NFL-only in-play from pre-match wagering equates to an additional $3M of EBITDA to GENI. Operators have been transparent about increasing the in-play mix of betting with additional propositions, placing in-play betting opportunities, and using low-latency technology (including GENI\u2019s BetVision),\u201d noted Bain.<\/p>\n

The analyst added that markets may not yet be fully appreciating the potential positive impact in-game wagering expansion could have on Genius shares.<\/strong><\/p>\n

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

In July, Genius announced a deal with X<\/a> (formerly Twitter), one of the largest social media platforms in the world. Under the terms of the agreement, Genius will leverage its ad-tech products to deliver advertisements specific to conversations taking place on X.<\/p>\n

With more media rights negotiations coming up, ad-tech could be unheralded catalyst for Genius shares while diversifying the company\u2019s revenue stream.<\/p>\n

\u201cWhile more difficult to quantify, we believe many of GENI\u2019s new ad tech offerings \u2014 ads placed directly into live streams or a self-service platform offering GENI’s unique data for advertisers to use in ad buys (100% margin business for GENI) \u2014 are potential levers for media growth relative to consensus. We believe some U.S. take-rate negotiations will benefit GENI’s media division with higher go-forward commitments,\u201d concluded Bain.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Somewhat quietly, Genius Sports (NYSE: GENI) is one of this year\u2019s best-performing sports wagering stocks as highlighted by a year-to-date gain of 23.30%. That includes a 12.72% rally over the past month. Some analysts believe the sports betting data provider has more upside in store for investors. In a note to clients today, B. Riley […]<\/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 Has Upside Levers, Says Analyst<\/title>\n<meta name=\"description\" content=\"Genius Sports Has Upside Levers, 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-upside-levers-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 Upside Levers, Says Analyst\" \/>\n<meta property=\"og:description\" content=\"Genius Sports Has Upside Levers, Says Analyst.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/genius-sports-has-upside-levers-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=\"2024-08-30T23:05:35+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-has-upside-levers-says-analyst\/\",\"url\":\"https:\/\/www.casino.org\/news\/genius-sports-has-upside-levers-says-analyst\/\",\"name\":\"Genius Sports Has Upside Levers, Says Analyst\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/genius-sports-has-upside-levers-says-analyst\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/genius-sports-has-upside-levers-says-analyst\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/genius.png\",\"datePublished\":\"2024-08-30T23:05:35+00:00\",\"dateModified\":\"2024-08-30T23:05:35+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Genius Sports Has Upside Levers, Says Analyst.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/genius-sports-has-upside-levers-says-analyst\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/genius-sports-has-upside-levers-says-analyst\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/genius-sports-has-upside-levers-says-analyst\/#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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