Sportradar Group (NASDAQ:SRAD) Stock Gets Price Target Cut from Stifel Nicolaus

Key Points

• Stifel Nicolaus lowered Sportradar Group’s price target from $18 to $17 while maintaining a “buy” rating, implying roughly 37% upside from the prior close.
• Analyst sentiment remains positive overall, with MarketBeat reporting a consensus “Moderate Buy” rating and an average price target of $18.03.
• SRAD shares rose to $12.41, but remain near their 52-week low of $11.39 and well below the 52-week high of $27.45; the company reported quarterly revenue of $431.19 million and a loss of $0.01 per share.

Sportradar Group (NASDAQ:SRAD - Get Free Report) had its price target decreased by equities researchers at Stifel Nicolaus from $18.00 to $17.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus's target price suggests a potential upside of 36.99% from the stock's previous close.

SRAD has been the topic of several other reports. Guggenheim lowered their target price on Sportradar Group from $28.00 to $26.00 and set a "buy" rating on the stock in a research report on Monday, August 3rd. Citigroup reiterated a "market outperform" rating on shares of Sportradar Group in a research report on Tuesday, September 8th. Citizens Jmp decreased their price target on shares of Sportradar Group from $24.00 to $20.00 and set a "market outperform" rating on the stock in a research note on Tuesday, August 4th. Wells Fargo & Company set a $20.00 price target on Sportradar Group in a research report on Tuesday, August 4th. Finally, Needham & Company LLC lowered their price target on Sportradar Group from $23.00 to $17.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $18.03.

Sportradar Group Price Performance

Shares of NASDAQ:SRAD traded up $0.46 on Monday, reaching $12.41. The company's stock had a trading volume of 1,865,568 shares, compared to its average volume of 2,779,301. The company has a market cap of $3.72 billion, a P/E ratio of 206.95 and a beta of 1.59. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.98 and a current ratio of 0.98. The company has a 50-day simple moving average of $12.56 and a 200 day simple moving average of $13.78. Sportradar Group has a 52-week low of $11.39 and a 52-week high of $27.45.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last announced its earnings results on Tuesday, June 30th. The company reported ($0.01) earnings per share for the quarter. Sportradar Group had a net margin of 1.23% and a return on equity of 1.89%. The firm had revenue of $431.19 million during the quarter. As a group, equities research analysts anticipate that Sportradar Group will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Sportradar Group

Hedge funds have recently made changes to their positions in the stock. Stephens Investment Management Group LLC lifted its position in shares of Sportradar Group by 40.7% during the first quarter. Stephens Investment Management Group LLC now owns 3,116,297 shares of the company's stock worth $52,167,000 after purchasing an additional 901,619 shares in the last quarter. Spruce House Investment Management LLC bought a new stake in shares of Sportradar Group during the first quarter valued at about $46,035,000. The Manufacturers Life Insurance Company lifted its holdings in Sportradar Group by 963.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,463,421 shares of the company's stock valued at $41,238,000 after acquiring an additional 2,231,810 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Sportradar Group in the 2nd quarter worth $32,811,000. Finally, Principal Financial Group Inc. raised its holdings in shares of Sportradar Group by 34.8% during the first quarter. Principal Financial Group Inc. now owns 1,826,209 shares of the company's stock valued at $30,571,000 after acquiring an additional 471,309 shares during the period.

Sportradar Group Company Profile

Sportradar Group AG is a sports technology and data company that provides business-to-business solutions to sports federations, leagues, media organizations, sportsbooks and other clients worldwide. The company collects, processes and distributes sports data, helping customers deliver live scores, statistics, schedules, news and other sports content across digital platforms.

Its products and services include real-time data feeds, betting odds and managed betting services, audiovisual content, marketing solutions, fan-engagement tools and sports integrity services.

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