JMP Securities Forecasts Strong Price Appreciation for Sportradar Group (NASDAQ:SRAD) Stock

Key Points

• JMP Securities has raised its price target for Sportradar Group (NASDAQ:SRAD) from $30.00 to $36.00, indicating a potential upside of 16.66% from its previous close.
• The stock currently holds an average rating of "Moderate Buy" with thirteen analysts rating it as a Buy, and it has seen a revenue growth of 14.1% year-over-year for the last quarter.
• Several brokerages, including UBS Group and Jefferies Financial Group, have also upgraded their target prices and ratings for Sportradar, reflecting strong investor interest in the stock.

Sportradar Group (NASDAQ:SRAD - Free Report) had its price objective boosted by JMP Securities from $30.00 to $36.00 in a report released on Wednesday,Benzinga reports. The firm currently has a market outperform rating on the stock.

A number of other analysts have also recently weighed in on the stock. UBS Group boosted their target price on shares of Sportradar Group from $29.00 to $39.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Zacks Research upgraded shares of Sportradar Group from a "hold" rating to a "strong-buy" rating in a report on Monday, September 1st. Needham & Company LLC upped their target price on shares of Sportradar Group from $28.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. The Goldman Sachs Group started coverage on shares of Sportradar Group in a research report on Monday, July 21st. They issued a "neutral" rating and a $31.00 price objective for the company. Finally, Macquarie initiated coverage on shares of Sportradar Group in a research report on Friday, June 20th. They set an "outperform" rating and a $32.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Sportradar Group currently has a consensus rating of "Moderate Buy" and an average target price of $30.88.

Sportradar Group Stock Up 0.1%

Shares of Sportradar Group stock traded up $0.04 during trading hours on Wednesday, reaching $30.91. 1,270,369 shares of the company's stock were exchanged, compared to its average volume of 1,663,920. Sportradar Group has a fifty-two week low of $11.45 and a fifty-two week high of $32.22. The stock has a market cap of $9.26 billion, a P/E ratio of 85.57 and a beta of 2.07. The company has a 50 day moving average of $29.59 and a two-hundred day moving average of $25.28. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.04.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.13. The firm had revenue of $374.25 million during the quarter, compared to the consensus estimate of $315.30 million. Sportradar Group had a net margin of 9.35% and a return on equity of 11.74%. Sportradar Group's revenue for the quarter was up 14.1% compared to the same quarter last year. Sportradar Group has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Sportradar Group will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Sportradar Group

Several hedge funds and other institutional investors have recently made changes to their positions in SRAD. ORG Partners LLC raised its stake in shares of Sportradar Group by 2,137.8% in the second quarter. ORG Partners LLC now owns 1,007 shares of the company's stock valued at $28,000 after acquiring an additional 962 shares during the period. Pacer Advisors Inc. increased its position in Sportradar Group by 43.9% during the 1st quarter. Pacer Advisors Inc. now owns 1,759 shares of the company's stock valued at $38,000 after purchasing an additional 537 shares during the period. TD Private Client Wealth LLC increased its position in Sportradar Group by 3,058.0% during the 2nd quarter. TD Private Client Wealth LLC now owns 1,579 shares of the company's stock valued at $44,000 after purchasing an additional 1,529 shares during the period. SBI Securities Co. Ltd. increased its position in Sportradar Group by 34.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,146 shares of the company's stock valued at $46,000 after purchasing an additional 551 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Sportradar Group by 10,125.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the company's stock valued at $46,000 after purchasing an additional 1,620 shares during the period.

Sportradar Group Company Profile

Sportradar Group AG, together with its subsidiaries, provides sports data services for the sports betting and media industries in the United Kingdom, the United States, Malta, Switzerland, and internationally. Its sports data services to the bookmaking under the Betradar brand name, and to the international media industry under the Sportradar Media Services brand name.