Shares of Genius Sports Ltd (GENI) surged 5.21% in intraday trading on Wednesday, outperforming the broader markets as the sports data and technology company received positive analyst commentary.
Needham raised its price target on Genius Sports to $13 from $12, reiterating a Buy rating on the stock. The firm cited the company's burgeoning sports data and technology offerings as a key growth driver.
Separately, Oppenheimer analyst Jed Kelly maintained a Buy rating on GENI with a $12 price target, while Benchmark also reiterated its Buy rating on the stock. The bullish analyst calls appeared to fuel investor optimism in Genius Sports.
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