JMP Securities Issues Positive Forecast for Sportradar Group (NASDAQ:SRAD) Stock Price

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 - Get Free Report) had its price objective boosted by equities researchers at JMP Securities from $30.00 to $36.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. JMP Securities' price objective indicates a potential upside of 16.66% from the stock's previous close.

Several other brokerages have also issued reports on SRAD. Arete initiated coverage on shares of Sportradar Group in a research note on Wednesday, July 9th. They set a "neutral" rating and a $31.00 target price on the stock. Arete Research upgraded shares of Sportradar Group to a "hold" rating in a report on Wednesday, July 9th. Jefferies Financial Group upped their price objective on shares of Sportradar Group from $27.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Macquarie began coverage on shares of Sportradar Group in a report on Friday, June 20th. They set an "outperform" rating and a $32.00 price objective on the stock. Finally, UBS Group upped their price objective on shares of Sportradar Group from $29.00 to $39.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $30.88.

Sportradar Group Trading Down 0.3%

SRAD opened at $30.86 on Wednesday. The firm has a market capitalization of $34.34 billion, a price-to-earnings ratio of 85.44 and a beta of 2.07. Sportradar Group has a fifty-two week low of $11.35 and a fifty-two week high of $32.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.31 and a quick ratio of 1.31. The company's 50 day moving average price is $29.38 and its two-hundred day moving average price is $25.08.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.13. The firm had revenue of $374.25 million for 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%. The business'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. As a group, research analysts predict that Sportradar Group will post 0.15 earnings per share for the current year.

Institutional Trading of Sportradar Group

Several hedge funds have recently made changes to their positions in the company. Cresset Asset Management LLC boosted its position in Sportradar Group by 2.1% during the second quarter. Cresset Asset Management LLC now owns 18,746 shares of the company's stock worth $526,000 after purchasing an additional 394 shares during the period. Pacer Advisors Inc. boosted its position in Sportradar Group by 43.9% during the first quarter. Pacer Advisors Inc. now owns 1,759 shares of the company's stock worth $38,000 after purchasing an additional 537 shares during the period. SBI Securities Co. Ltd. boosted its position in Sportradar Group by 34.5% during the first quarter. SBI Securities Co. Ltd. now owns 2,146 shares of the company's stock worth $46,000 after purchasing an additional 551 shares during the period. Silvercrest Asset Management Group LLC boosted its position in Sportradar Group by 1.6% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 43,530 shares of the company's stock worth $755,000 after purchasing an additional 691 shares during the period. Finally, Loomis Sayles & Co. L P boosted its position in Sportradar Group by 29.4% during the second quarter. Loomis Sayles & Co. L P now owns 3,524 shares of the company's stock worth $99,000 after purchasing an additional 801 shares during the period.

About Sportradar Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.