Needham & Company LLC Reaffirms “Buy” Rating for Sportradar Group (NASDAQ:SRAD)

Sportradar Group (NASDAQ:SRADGet Rating)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a note issued to investors on Thursday, MarketBeat.com reports. They presently have a $15.00 price target on the stock, down from their previous price target of $22.00. Needham & Company LLC’s price target would indicate a potential upside of 57.07% from the stock’s previous close.

SRAD has been the subject of a number of other research reports. Craig Hallum lowered their price target on Sportradar Group from $30.00 to $25.00 in a research report on Thursday. Canaccord Genuity Group decreased their price objective on shares of Sportradar Group from $35.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, March 31st. Bank of America lowered Sportradar Group from a “buy” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research report on Monday, April 4th. Deutsche Bank Aktiengesellschaft reduced their price target on Sportradar Group from $20.00 to $13.00 in a report on Thursday. Finally, UBS Group dropped their price objective on Sportradar Group from $28.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, March 17th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $20.83.

SRAD stock traded down $0.08 during trading on Thursday, hitting $9.55. The stock had a trading volume of 24,956 shares, compared to its average volume of 284,617. The company’s 50 day moving average price is $13.43 and its two-hundred day moving average price is $15.43. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 0.58. Sportradar Group has a 1-year low of $8.90 and a 1-year high of $28.22.

Several institutional investors have recently added to or reduced their stakes in SRAD. Morgan Stanley acquired a new stake in shares of Sportradar Group in the 3rd quarter worth about $80,000. Bank of America Corp DE acquired a new stake in shares of Sportradar Group in the fourth quarter valued at approximately $196,000. Jane Street Group LLC raised its holdings in shares of Sportradar Group by 615.3% during the first quarter. Jane Street Group LLC now owns 12,367 shares of the company’s stock valued at $206,000 after buying an additional 14,767 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Sportradar Group during the first quarter worth approximately $218,000. Finally, Teacher Retirement System of Texas bought a new position in Sportradar Group in the 3rd quarter worth approximately $226,000. Institutional investors and hedge funds own 61.85% of the company’s stock.

Sportradar Group Company Profile (Get Rating)

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.

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Analyst Recommendations for Sportradar Group (NASDAQ:SRAD)

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