While a decision is still to come regarding which tech giant (Apple, Alphabet/YouTube or Amazon) will get the honor of paying around $2.5 billion for rights to the NFL’s Sunday Ticket package, Genius Sports already has pieces in place to be a partner with the winner.
Just seven analysts cover the stock, and all have a Buy or Strong Buy rating. The stock trades at around $4.20, implying an upside potential of nearly 43% based on a median price target of $6.00. At the high target of $11.00, the upside potential is about 162%.
Second-quarter revenue is forecast at $64.7 million, down 24.7% sequentially but up 15.8% year over year. The company is expected to post an adjusted loss per share of $0.05, compared to a loss per share of $0.30 in the prior quarter. For the full year, the net loss per share is forecast at $0.30 on revenue of $341.66 million, up more than 30% year over year.
Genius Sports is not expected to post a profit until 2024. The enterprise value to sales multiple is estimated at 2.0 times sales for 2022, 1.6 times estimated 2023 sales of $436.73 million and 1.2 times estimated 2024 sales of $548.07 million. The stock’s 52-week range is $2.20 to $24.14, and the company does not pay a dividend. Total shareholder return for the past year was negative 77.5%.
Home Depot
Home Depot Inc. (NYSE: HD) has dropped about 5.5% from its share price over the past 12 months. Since posting a recent high in early December, the stock has dropped by about 24%. Between March 20, 2020, and early December 2021, Home Depot’s stock added almost 185%, an incredibly strong pace for a Dow company. Even with the decline over the past several months, the shares are trading for more than double their mid-March 2020 price.
It is no coincidence that the huge runup mirrored the U.S. lockdowns due to the pandemic. Before the recent jump in inflation, homeowners already had begun shifting spending to services and travel, not fixing up their houses either for personal enjoyment or to make the property more salable. Expectations for Home Depot and chief rival Lowe’s have been pulled in again.
Of 33 analysts covering the stock, 23 have a Buy or Strong Buy rating and 10 rate the shares at Hold. At a share price of around $312.10, the upside potential based on a median price target of $350.00 (down 7% since May) is 12.1%. At the high price target of $470.00, the upside potential is 50.6%.
Analysts expect Home Depot to report second-quarter revenue of $43.33 billion, up 20.6% sequentially and by 5.4% year over year. The second quarter is historically the company’s strongest. Adjusted earnings per share (EPS) are forecast at $4.93, up 14.8% sequentially and 8.8% higher year over year. For the full 2023 fiscal year ending in January, EPS is forecast at $16.48, up 6.1%, on sales of $156.22 billion, up about 3.4% year over year.
Home Depot stock trades at 18.9 times expected 2023 EPS, 17.9 times estimated 2024 earnings of $17.34 and 16.8 times estimated 2025 earnings of $18.55 per share. The stock’s 52-week range is $264.51 to $420.61, and the low was posted Thursday. Home Depot pays an annual dividend of $7.60 (yield of 2.44%). Total shareholder return for the past year is negative 4.8%.
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