Sportradar Group (NASDAQ:SRAD) Earns Outperform Rating from Analysts at Wolfe Research

Key Points

• Wolfe Research initiated coverage of Sportradar Group with an “outperform” rating and a $22 price target, implying 78.72% upside from the prior close.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $20.41, although several firms recently reduced their targets and BTIG downgraded the stock to “neutral.”
• Sportradar shares opened at $12.31 and have traded between $11.55 and $31.65 over the past year. The company reported quarterly revenue of $431.19 million and a loss of $0.01 per share.

Equities researchers at Wolfe Research began coverage on shares of Sportradar Group (NASDAQ:SRAD - Get Free Report) in a report issued on Wednesday, Benzinga reports. The firm set an "outperform" rating and a $22.00 price target on the stock. Wolfe Research's price objective indicates a potential upside of 78.72% from the stock's previous close.

A number of other research analysts also recently commented on SRAD. Canaccord Genuity Group lowered their target price on Sportradar Group from $28.00 to $24.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Needham & Company LLC reduced their price target on Sportradar Group from $23.00 to $17.00 and set a "buy" rating for the company in a report on Tuesday, August 4th. Citigroup reissued a "market outperform" rating on shares of Sportradar Group in a research note on Tuesday, August 4th. BTIG Research cut shares of Sportradar Group from a "buy" rating to a "neutral" rating in a research note on Tuesday, August 4th. Finally, Wells Fargo & Company set a $20.00 target price on shares of Sportradar Group in a research note on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.41.

Sportradar Group Trading Down 1.0%

Shares of NASDAQ:SRAD opened at $12.31 on Wednesday. The firm has a fifty day moving average of $14.08 and a two-hundred day moving average of $15.25. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.06. Sportradar Group has a 12-month low of $11.55 and a 12-month high of $31.65. The firm has a market capitalization of $3.69 billion, a P/E ratio of 205.20 and a beta of 1.59.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The company reported ($0.01) earnings per share for the quarter. Sportradar Group had a return on equity of 1.89% and a net margin of 1.23%.The company had revenue of $431.19 million during the quarter. On average, equities analysts expect that Sportradar Group will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. UBS Group AG lifted its holdings in Sportradar Group by 107.1% in the 4th quarter. UBS Group AG now owns 2,394,126 shares of the company's stock worth $56,908,000 after purchasing an additional 1,238,054 shares during the last quarter. Stephens Investment Management Group LLC acquired a new position in Sportradar Group during the fourth quarter valued at approximately $52,643,000. Spruce House Investment Management LLC acquired a new position in Sportradar Group during the first quarter valued at approximately $46,035,000. Ashford Capital Management Inc. raised its position in shares of Sportradar Group by 35.7% in the first quarter. Ashford Capital Management Inc. now owns 719,570 shares of the company's stock valued at $12,046,000 after purchasing an additional 189,290 shares during the period. Finally, BW Gestao de Investimentos Ltda. boosted its holdings in shares of Sportradar Group by 133.8% during the 4th quarter. BW Gestao de Investimentos Ltda. now owns 233,843 shares of the company's stock worth $5,558,000 after buying an additional 133,841 shares during the period.

About Sportradar Group

Sportradar Group is a global leader in digital sports data and content, delivering real-time statistics, analytics and sports betting solutions to clients across the gaming, media and sports federation sectors. The company aggregates and processes live data from more than 800,000 sporting events each year, providing feeds for pre-match and in-play odds, visualization tools and managed trading services. Its products also include integrity services, which monitor betting markets for irregularities and help sports organizations safeguard competition outcomes.

Founded in 2001 and headquartered in St.

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