Sportradar Group (NASDAQ:SRAD) Stock Price Target Lowered at Morgan Stanley

Key Points

• Morgan Stanley lowered Sportradar’s price target from $15.00 to $13.50 while maintaining an “equal weight” rating, implying 13.54% upside from the prior close.
• Analyst sentiment remains moderately positive overall: Sportradar has a consensus “Moderate Buy” rating and an average price target of $18.47, despite several recent target cuts and a UBS downgrade to “neutral.”
• Shares traded near $11.89, close to the stock’s 52-week low of $11.39. The company reported quarterly revenue of $431.19 million and a loss of $0.01 per share, while institutional investors including Principal Financial and Manufacturers Life increased their holdings.

Sportradar Group (NASDAQ:SRAD - Get Free Report) had its price target decreased by Morgan Stanley from $15.00 to $13.50 in a research report issued on Monday, Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price objective indicates a potential upside of 13.54% from the company's previous close.

Several other equities analysts have also recently issued reports on the stock. Needham & Company LLC decreased their price target on shares of Sportradar Group from $23.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. Wells Fargo & Company set a $20.00 price target on shares of Sportradar Group in a report on Tuesday, August 4th. Zacks Research raised shares of Sportradar Group from a "strong sell" rating to a "hold" rating in a research note on Friday, October 9th. UBS Group downgraded Sportradar Group from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $30.00 to $16.00 in a report on Wednesday, August 5th. Finally, Canaccord Genuity Group decreased their price objective on Sportradar Group from $28.00 to $24.00 and set a "buy" rating for the company in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $18.47.

Sportradar Group Trading Down 0.2%

Shares of SRAD stock traded down $0.02 during mid-day trading on Monday, reaching $11.89. 320,622 shares of the stock traded hands, compared to its average volume of 2,819,185. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 198.13 and a beta of 1.59. 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's fifty day simple moving average is $12.70 and its two-hundred day simple moving average is $13.95. Sportradar Group has a 1-year low of $11.39 and a 1-year high of $27.85.

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

Institutional Investors Weigh In On Sportradar Group

Several large investors have recently added to or reduced their stakes in the business. Spruce House Investment Management LLC bought a new stake in shares of Sportradar Group in the 1st quarter valued at $46,035,000. Ashford Capital Management Inc. boosted its stake in Sportradar Group by 35.7% during the first quarter. Ashford Capital Management Inc. now owns 719,570 shares of the company's stock worth $12,046,000 after acquiring an additional 189,290 shares in the last quarter. Headlands Technologies LLC bought a new position in Sportradar Group during the second quarter worth $1,704,000. Principal Financial Group Inc. boosted its stake in Sportradar Group by 34.8% during the first quarter. Principal Financial Group Inc. now owns 1,826,209 shares of the company's stock worth $30,571,000 after acquiring an additional 471,309 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Sportradar Group by 963.6% in the first quarter. The Manufacturers Life Insurance Company now owns 2,463,421 shares of the company's stock worth $41,238,000 after purchasing an additional 2,231,810 shares during the period.

About Sportradar Group

Sportradar Group AG is a sports technology company that provides data, content and technology solutions to the global sports, media and betting industries. Its services support the collection, analysis and distribution of sports information across a broad range of competitions and sporting events.

The company offers live sports data, statistics, odds services, betting solutions, audiovisual content and digital media products. It also provides tools for sports organizations and media companies, including fan engagement, marketing, sponsorship and data-driven content solutions.

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