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Genius Sports Limited (GENI) Moves 6.1% Higher: Will This Strength Last?
Genius Sports Limited (GENI - Free Report) shares rallied 6.1% in the last trading session to close at $11.04. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 14.4% gain over the past four weeks.
Genius Sports Limited is benefiting from strong revenue growth, successful contract renewals, and the expansion of its innovative products like BetVision and AI-driven technology platforms.
This company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of +54.6%. Revenues are expected to be $143.27 million, up 19.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Genius Sports Limited, the consensus EPS estimate for the quarter has been revised 35.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on GENI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Genius Sports Limited is part of the Zacks Internet - Content industry. DHI Group (DHX - Free Report) , another stock in the same industry, closed the last trading session 3.4% higher at $1.52. DHX has returned -43.9% in the past month.
For DHI Group, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.01. This represents a change of -80% from what the company reported a year ago. DHI Group currently has a Zacks Rank of #3 (Hold).