Sportradar Group (NASDAQ:SRAD) Announces Earnings Results

Key Points

• Sportradar reported quarterly EPS of $0.10, missing the $0.11 consensus estimate by $0.01, while revenue reached $410.62 million, ahead of analyst expectations of $405.74 million.
• Revenue increased 24.1% year over year from the same quarter, although profitability remained modest with a 1.23% net margin and 1.89% return on equity.
• Shares rose 7.0% following the results. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $18.03, despite several recent target-price reductions.

Sportradar Group (NASDAQ:SRAD - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01), Zacks reports. The firm had revenue of $410.62 million during the quarter, compared to analyst estimates of $405.74 million. Sportradar Group had a net margin of 1.23% and a return on equity of 1.89%. The firm's revenue was up 24.1% compared to the same quarter last year. During the same period last year, the business earned $0.07 EPS.

Sportradar Group Stock Up 7.0%

NASDAQ:SRAD opened at $12.87 on Tuesday. 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 market capitalization of $3.85 billion, a price-to-earnings ratio of 214.54 and a beta of 1.59. Sportradar Group has a one year low of $11.39 and a one year high of $26.19. The stock has a 50-day simple moving average of $12.49 and a 200 day simple moving average of $14.94.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SRAD. Weiss Ratings downgraded shares of Sportradar Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, October 2nd. Stifel Nicolaus cut their price objective on shares of Sportradar Group from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Monday, October 26th. Wolfe Research began coverage on shares of Sportradar Group in a research report on Wednesday, September 2nd. They issued an "outperform" rating and a $22.00 price objective for the company. Morgan Stanley lowered their target price on Sportradar Group from $15.00 to $13.50 and set an "equal weight" rating for the company in a research note on Monday, October 19th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Sportradar Group in a research report on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.03.

About Sportradar Group

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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