Sportradar Group (NASDAQ:SRAD) Reaches New 12-Month High on Analyst Upgrade

Sportradar Group AG (NASDAQ:SRAD) hit a new 52-week high during trading on Wednesday after Truist Financial raised their price target on the stock from $33.00 to $34.00. Truist Financial currently has a buy rating on the stock. Sportradar Group traded as high as $29.80 and last traded at $29.72, with a volume of 553 shares trading hands. The stock had previously closed at $29.56.

A number of other research analysts have also recently weighed in on the stock. Bank of America raised shares of Sportradar Group from an “underperform” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Tuesday, April 22nd. BTIG Research assumed coverage on Sportradar Group in a report on Friday, April 11th. They set a “buy” rating and a $28.00 target price on the stock. JMP Securities boosted their price target on Sportradar Group from $25.00 to $30.00 and gave the stock a “market outperform” rating in a report on Tuesday. Arete began coverage on Sportradar Group in a research note on Wednesday, July 9th. They set a “neutral” rating and a $31.00 price objective on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $27.00 target price on shares of Sportradar Group in a research note on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.13.

Institutional Investors Weigh In On Sportradar Group

A number of institutional investors have recently added to or reduced their stakes in SRAD. US Bancorp DE purchased a new position in shares of Sportradar Group in the 4th quarter worth about $39,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Sportradar Group in the fourth quarter valued at approximately $1,980,000. Sciencast Management LP acquired a new position in Sportradar Group during the fourth quarter valued at approximately $212,000. Quantbot Technologies LP grew its stake in Sportradar Group by 196.7% during the fourth quarter. Quantbot Technologies LP now owns 34,002 shares of the company’s stock worth $590,000 after buying an additional 22,542 shares during the period. Finally, Sei Investments Co. acquired a new stake in shares of Sportradar Group in the fourth quarter worth $3,626,000.

Sportradar Group Stock Performance

The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.04. The firm has a market cap of $33.33 billion, a PE ratio of 157.64 and a beta of 2.07. The stock’s 50 day moving average price is $25.53 and its 200 day moving average price is $22.74.

Sportradar Group (NASDAQ:SRAD) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. The firm had revenue of $336.71 million during the quarter, compared to the consensus estimate of $318.81 million. Sportradar Group had a return on equity of 6.38% and a net margin of 5.16%. Sportradar Group’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, equities analysts forecast 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.