Wall Street Zen downgraded Genius Sports (NYSE: GENI) from Sell to Strong Sell on Tuesday.
Separately, Stifel reiterated its Hold rating and $8.50 price target. The firm said Genius Sports’ revenue exposure to potential regulatory changes in Brazil is likely immaterial.
Stifel also said each of the company’s recent prediction market deals is comparable in revenue to a Tier-1 U.S. operator contract.