Sportradar Group (NASDAQ:SRAD) Sets New 52-Week High After Analyst Upgrade

Sportradar Group AG (NASDAQ:SRAD) reached a new 52-week high during mid-day trading on Wednesday after Canaccord Genuity Group raised their price target on the stock from $30.00 to $32.00. Canaccord Genuity Group currently has a buy rating on the stock. Sportradar Group traded as high as $23.60 and last traded at $21.73, with a volume of 3115428 shares changing hands. The stock had previously closed at $21.62.

Several other equities research analysts also recently commented on the company. Morgan Stanley upped their target price on Sportradar Group from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday. Guggenheim began coverage on shares of Sportradar Group in a report on Wednesday, February 26th. They issued a “buy” rating and a $27.00 target price for the company. Benchmark boosted their price target on shares of Sportradar Group from $24.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, March 20th. Citigroup raised their price objective on shares of Sportradar Group from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, March 20th. Finally, Needham & Company LLC reissued a “buy” rating and set a $27.00 target price on shares of Sportradar Group in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Sportradar Group currently has an average rating of “Moderate Buy” and an average target price of $26.00.

Hedge Funds Weigh In On Sportradar Group

A number of hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP purchased a new position in Sportradar Group in the third quarter valued at about $139,000. Walleye Capital LLC bought a new stake in shares of Sportradar Group in the 3rd quarter valued at approximately $651,000. Walleye Trading LLC acquired a new position in Sportradar Group in the third quarter worth approximately $157,000. Verition Fund Management LLC bought a new position in Sportradar Group during the third quarter valued at approximately $406,000. Finally, Centiva Capital LP lifted its stake in Sportradar Group by 66.1% in the third quarter. Centiva Capital LP now owns 38,172 shares of the company’s stock valued at $462,000 after acquiring an additional 15,187 shares during the last quarter.

Sportradar Group Price Performance

The company has a market capitalization of $23.58 billion, a P/E ratio of 105.96, a P/E/G ratio of 1.53 and a beta of 2.19. The company’s 50-day simple moving average is $21.40 and its 200 day simple moving average is $17.57. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.04.

Sportradar Group (NASDAQ:SRAD) last posted its earnings results on Wednesday, March 19th. The company reported $0.00 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.04). Sportradar Group had a return on equity of 6.69% and a net margin of 5.61%. The business had revenue of $307.00 million for the quarter, compared to analyst estimates of $294.60 million. As a group, sell-side analysts expect that Sportradar Group AG will post 0.15 earnings per share for the current fiscal year.

About Sportradar Group

Sportradar Group AG, together with its subsidiaries, provides sports data services for the sports betting and media industries in the United Kingdom, the United States, Malta, Switzerland, and internationally. Its sports data services to the bookmaking under the Betradar brand name, and to the international media industry under the Sportradar Media Services brand name.