Morgan Stanley Issues Pessimistic Forecast for Sportradar Group (NASDAQ:SRAD) Stock Price

Key Points

• Morgan Stanley cut its price target on Sportradar to $24 (from $26) and kept an "equal weight" rating, a level that still implies roughly a 28% upside from the stock's recent price.
• Multiple brokers have trimmed targets recently, but the consensus remains a "Moderate Buy" with an average price target of $30.22, indicating mixed but generally positive analyst sentiment.
• Sportradar's latest quarter missed EPS ( $0.01 vs. $0.10 expected) while revenue beat ($432.8M vs. $369.6M, +20.2% YoY); the stock traded down about 3% to $18.73 following the results.

Sportradar Group (NASDAQ:SRAD - Get Free Report) had its price objective cut by analysts at Morgan Stanley from $26.00 to $24.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price target points to a potential upside of 28.15% from the company's current price.

Several other equities analysts have also recently commented on SRAD. BTIG Research lowered their price target on shares of Sportradar Group from $32.00 to $24.00 and set a "buy" rating on the stock in a report on Wednesday, March 4th. Truist Financial set a $32.00 price objective on Sportradar Group in a research report on Tuesday, March 3rd. Wells Fargo & Company dropped their target price on Sportradar Group from $26.00 to $24.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 4th. UBS Group cut their price target on Sportradar Group from $39.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, December 9th. Finally, Citizens Jmp reduced their price target on Sportradar Group from $34.00 to $31.00 and set a "market outperform" rating for the company in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Sportradar Group presently has a consensus rating of "Moderate Buy" and an average price target of $30.22.

Sportradar Group Stock Down 3.0%

NASDAQ:SRAD traded down $0.57 during trading hours on Wednesday, hitting $18.73. 647,480 shares of the company's stock traded hands, compared to its average volume of 2,735,684. The stock's fifty day moving average price is $18.21 and its two-hundred day moving average price is $22.51. The firm has a market cap of $5.61 billion, a P/E ratio of 56.74 and a beta of 2.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.36 and a current ratio of 1.17. Sportradar Group has a twelve month low of $15.73 and a twelve month high of $32.22.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last released its earnings results on Tuesday, March 3rd. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.09). The business had revenue of $432.81 million for the quarter, compared to analysts' expectations of $369.59 million. Sportradar Group had a net margin of 7.73% and a return on equity of 10.32%. The firm's revenue was up 20.2% on a year-over-year basis. On average, research analysts expect that Sportradar Group will post 0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sportradar Group

A number of large investors have recently added to or reduced their stakes in SRAD. Massachusetts Financial Services Co. MA raised its holdings in Sportradar Group by 39.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,104,947 shares of the company's stock worth $164,223,000 after acquiring an additional 1,721,495 shares during the period. JPMorgan Chase & Co. boosted its holdings in Sportradar Group by 71.7% during the third quarter. JPMorgan Chase & Co. now owns 1,174,810 shares of the company's stock valued at $31,602,000 after acquiring an additional 490,755 shares during the period. TD Asset Management Inc grew its position in shares of Sportradar Group by 560.3% in the third quarter. TD Asset Management Inc now owns 542,094 shares of the company's stock valued at $14,582,000 after purchasing an additional 460,000 shares during the last quarter. Greenhouse Funds LLLP increased its stake in shares of Sportradar Group by 1.6% in the second quarter. Greenhouse Funds LLLP now owns 7,971,654 shares of the company's stock worth $223,844,000 after purchasing an additional 129,276 shares during the period. Finally, Kingdon Capital Management L.L.C. increased its stake in shares of Sportradar Group by 18.5% in the third quarter. Kingdon Capital Management L.L.C. now owns 474,000 shares of the company's stock worth $12,751,000 after purchasing an additional 74,000 shares during the period.

Sportradar Group Company Profile

Sportradar Group is a global leader in digital sports data and content, delivering real-time statistics, analytics and sports betting solutions to clients across the gaming, media and sports federation sectors. The company aggregates and processes live data from more than 800,000 sporting events each year, providing feeds for pre-match and in-play odds, visualization tools and managed trading services. Its products also include integrity services, which monitor betting markets for irregularities and help sports organizations safeguard competition outcomes.

Founded in 2001 and headquartered in St.

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