JPMorgan initiated coverage of Genius Sports with an overweight rating and an $8 price target, implying 38% upside. The stock has dropped 47% year to date amid increased competition from prediction markets and the controversial acquisition of Legend network. JPMorgan estimates the stock trades at roughly five times fiscal year 2027 enterprise value, meaningfully below DraftKings and Flutter Entertainment. Of the 22 analysts covering the stock, 19 have a buy or strong buy rating.
Source: Read the original article
