Sportradar Group (NASDAQ:SRAD) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Sportradar Group (NASDAQ:SRAD) had its price target upped by equities research analysts at Morgan Stanley from $22.00 to $23.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential downside of 2.54% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Citigroup upped their price objective on shares of Sportradar Group from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, March 20th. Canaccord Genuity Group upped their target price on Sportradar Group from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, April 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $27.00 price target on shares of Sportradar Group in a research report on Wednesday, April 2nd. Benchmark increased their price objective on Sportradar Group from $26.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday. Finally, BTIG Research began coverage on shares of Sportradar Group in a report on Friday, April 11th. They issued a “buy” rating and a $28.00 target price on the stock. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.91.

Sportradar Group Stock Up 1.2 %

Sportradar Group stock traded up $0.28 during midday trading on Wednesday, reaching $23.60. The company’s stock had a trading volume of 1,294,413 shares, compared to its average volume of 705,859. The business has a 50-day simple moving average of $21.57 and a 200-day simple moving average of $18.24. The company has a market cap of $26.26 billion, a P/E ratio of 118.01, a P/E/G ratio of 1.53 and a beta of 2.10. Sportradar Group has a fifty-two week low of $9.17 and a fifty-two week high of $24.13. 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 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.04). The business had revenue of $307.00 million for the quarter, compared to analysts’ expectations of $294.60 million. Sportradar Group had a return on equity of 6.69% and a net margin of 5.61%. On average, research analysts expect that Sportradar Group will post 0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sportradar Group

A number of hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI raised its stake in shares of Sportradar Group by 1,366.4% during the 4th quarter. National Bank of Canada FI now owns 1,569 shares of the company’s stock worth $27,000 after buying an additional 1,462 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Sportradar Group in the fourth quarter worth $28,000. US Bancorp DE purchased a new position in Sportradar Group in the fourth quarter worth $39,000. Loomis Sayles & Co. L P acquired a new stake in Sportradar Group in the fourth quarter valued at $43,000. Finally, R Squared Ltd purchased a new stake in shares of Sportradar Group during the 4th quarter worth $44,000.

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.