Needham & Company LLC Issues Positive Forecast for Sportradar Group (NASDAQ:SRAD) Stock Price

Key Points

• Needham & Company LLC has raised its price target for Sportradar Group (NASDAQ:SRAD) from $28.00 to $34.00, signaling a potential upside of 22.13% and maintaining a "buy" rating on the stock.
• Sportradar's recent quarterly earnings showed a 17% increase in revenue year-over-year, with reported earnings per share of $0.07, exceeding analyst expectations.
• Overall, Sportradar Group holds an average rating of "Moderate Buy" among analysts, with a total of 13 buy ratings compared to 4 hold ratings.

Sportradar Group (NASDAQ:SRAD - Get Free Report) had its price objective hoisted by research analysts at Needham & Company LLC from $28.00 to $34.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's target price points to a potential upside of 22.13% from the company's current price.

Several other equities research analysts have also weighed in on the company. Arete assumed coverage on Sportradar Group in a research report on Wednesday, July 9th. They set a "neutral" rating and a $31.00 price target on the stock. Macquarie assumed coverage on Sportradar Group in a report on Friday, June 20th. They issued an "outperform" rating and a $32.00 target price on the stock. Morgan Stanley boosted their target price on Sportradar Group from $22.00 to $23.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 16th. JMP Securities boosted their target price on Sportradar Group from $25.00 to $30.00 and gave the stock a "market outperform" rating in a report on Tuesday, July 15th. Finally, Bank of America raised Sportradar Group from an "underperform" rating to a "buy" rating and set a $28.00 price target on the stock in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Sportradar Group has an average rating of "Moderate Buy" and an average target price of $29.69.

Sportradar Group Stock Performance

Shares of SRAD opened at $27.84 on Tuesday. The company has a market cap of $30.98 billion, a PE ratio of 146.53 and a beta of 2.07. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $27.07 and a 200-day moving average price of $23.79. Sportradar Group has a 12-month low of $10.38 and a 12-month high of $30.63.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.02. Sportradar Group had a return on equity of 6.38% and a net margin of 5.16%. The business had revenue of $336.71 million for the quarter, compared to analysts' expectations of $318.81 million. The firm's revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, equities analysts forecast that Sportradar Group will post 0.15 earnings per share for the current fiscal year.

Institutional Trading of Sportradar Group

Several institutional investors have recently made changes to their positions in the business. Greenhouse Funds LLLP grew its position in shares of Sportradar Group by 2.0% during the fourth quarter. Greenhouse Funds LLLP now owns 9,853,973 shares of the company's stock worth $170,868,000 after purchasing an additional 193,962 shares in the last quarter. Unisphere Establishment purchased a new position in Sportradar Group during the 4th quarter valued at approximately $51,596,000. Driehaus Capital Management LLC purchased a new position in Sportradar Group during the 1st quarter valued at approximately $48,596,000. Granahan Investment Management LLC grew its holdings in Sportradar Group by 86.2% during the 4th quarter. Granahan Investment Management LLC now owns 2,008,977 shares of the company's stock valued at $34,836,000 after buying an additional 930,310 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Sportradar Group by 34.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,461,619 shares of the company's stock valued at $31,574,000 after buying an additional 378,163 shares in the last quarter.

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.

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