Deutsche Bank resumed coverage of Genius Sports Limited with a Buy rating and a $10 price target on May 11, following the company's fiscal first-quarter earnings report. The firm cited numerous ways to win in the legacy sports betting business-to-business segment as a driver of future growth. Separately, Oppenheimer lowered its price target on the stock to $9 from $11 on May 8 while maintaining an Outperform rating, noting a solid first-quarter revenue and EBITDA beat driven by accelerating betting services revenue. The company incorporated Legend Revenue and EBITDA of $185 million and $90 million into full-year guidance, now set at $990 million to $1.01 billion for revenue and $270 million to $280 million for EBITDA. Oppenheimer also sees catalysts building into the World Cup and NFL kickoff, with potential for Street estimates to raise back-half media revenue.
Genius Sports LtdDeutsche Bank resumed coverage with Buy rating and $10 target, and Oppenheimer maintained Outperform despite lowering target, both citing strong Q1 results and growth catalysts.