Sportradar Group (NASDAQ:SRAD) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

Key Points

• JPMorgan lowered Sportradar’s price target from $15.00 to $13.00 while maintaining a “neutral” rating, implying approximately 9.46% upside from the stock’s reported $11.88 price.
• Analyst sentiment remains generally positive but mixed: Sportradar has a consensus “Moderate Buy” rating and an average price target of $18.34, though several firms recently reduced their targets or downgraded the stock.
• Sportradar reported quarterly revenue of $431.19 million and a loss of $0.01 per share; analysts expect full-year earnings of $0.25 per share. The stock was trading near its 52-week low of $11.39, compared with a high of $27.85.

Sportradar Group (NASDAQ:SRAD - Get Free Report) had its price target lowered by investment analysts at JPMorgan Chase & Co. from $15.00 to $13.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 9.46% from the company's current price.

A number of other research firms also recently weighed in on SRAD. Wells Fargo & Company set a $20.00 target price on Sportradar Group in a research report on Tuesday, August 4th. Freedom Capital raised Sportradar Group to a "strong-buy" rating in a report on Monday, July 20th. Morgan Stanley decreased their price objective on Sportradar Group from $15.00 to $13.50 and set an "equal weight" rating on the stock in a report on Monday. UBS Group cut Sportradar Group from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $30.00 to $16.00 in a research report on Wednesday, August 5th. Finally, Citizens Jmp lowered their price objective on Sportradar Group from $24.00 to $20.00 and set a "market outperform" rating on the stock in a research report on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $18.34.

Sportradar Group Stock Performance

NASDAQ SRAD traded down $0.15 during midday trading on Tuesday, hitting $11.88. The company had a trading volume of 382,597 shares, compared to its average volume of 2,809,480. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.06. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 198.30 and a beta of 1.59. The firm has a fifty day simple moving average of $12.68 and a two-hundred day simple moving average of $13.92. Sportradar Group has a fifty-two week low of $11.39 and a fifty-two week high of $27.85.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC increased its position in shares of Sportradar Group by 6.1% during the 1st quarter. Parallel Advisors LLC now owns 16,388 shares of the company's stock worth $274,000 after purchasing an additional 937 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Sportradar Group by 3.2% during the 2nd quarter. Squarepoint Ops LLC now owns 30,518 shares of the company's stock worth $457,000 after purchasing an additional 958 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of Sportradar Group by 3.8% during the 1st quarter. Glenmede Trust Co. NA now owns 26,470 shares of the company's stock worth $443,000 after purchasing an additional 970 shares in the last quarter. SHP Wealth Management acquired a new stake in shares of Sportradar Group in the 4th quarter valued at approximately $86,000. Finally, Counterpoint Mutual Funds LLC boosted its holdings in shares of Sportradar Group by 29.0% in the 1st quarter. Counterpoint Mutual Funds LLC now owns 16,814 shares of the company's stock valued at $281,000 after buying an additional 3,781 shares during the last quarter.

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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