B.Riley Assumes Genius Sports Ltd. (GENI) at Buy

B.Riley analyst Josh Nichols assumes coverage on Genius Sports Ltd. (NYSE: GENI) with a Buy rating and a price target of $12.00.

The analyst comments: "We believe GENI is an ideal way for investors to participate in the global growth in sports betting and related media without having to pick specific winners in the highly competitive B2C market. The company has exclusive partnerships with major sporting organizations (English Premier League, NFL, International Basketball Federation, NCAA) and an extensive data collection network covering 300k live events that it has built and scaled over the past 25 years. Its live sports data is deeply integrated into 650+ sportsbooks with long-term contracts that provide visibility and growth as GENI adds more leagues and events to its portfolio, as well as revenue-sharing upside potential that enables the company to benefit from the growth of the global sports betting industry. Additionally, GENI operates in a largely duopolistic sports data market with high barriers to entry and significant pricing power that has resulted in increasing take rates over time."

For an analyst ratings summary and ratings history on Genius Sports Ltd. click here. For more ratings news on Genius Sports Ltd. click here.

Shares of Genius Sports Ltd. closed at $9.48 yesterday.

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