Truist Financial Initiates Coverage on Sportradar Group (NASDAQ:SRAD)

Equities researchers at Truist Financial began coverage on shares of Sportradar Group (NASDAQ:SRAD - Get Free Report) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $33.00 price target on the stock. Truist Financial's price target suggests a potential upside of 19.18% from the stock's previous close.

A number of other analysts have also issued reports on SRAD. Canaccord Genuity Group raised their price target on Sportradar Group from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Thursday, April 3rd. UBS Group raised their target price on shares of Sportradar Group from $24.00 to $29.00 and gave the stock a "buy" rating in a research report on Tuesday, April 8th. BTIG Research started coverage on shares of Sportradar Group in a research report on Friday, April 11th. They set a "buy" rating and a $28.00 price target for the company. Jefferies Financial Group increased their price target on shares of Sportradar Group from $23.00 to $27.00 and gave the stock a "buy" rating in a research note on Thursday, March 20th. Finally, Bank of America raised shares of Sportradar Group from an "underperform" rating to a "buy" rating and set a $28.00 price objective for the company in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Sportradar Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.79.

Sportradar Group Trading Down 1.4%

Shares of NASDAQ SRAD traded down $0.39 during midday trading on Tuesday, reaching $27.69. 3,066,809 shares of the stock were exchanged, compared to its average volume of 1,089,071. The stock has a 50 day moving average price of $24.20 and a 200-day moving average price of $21.84. 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 company has a market capitalization of $30.81 billion, a P/E ratio of 145.74 and a beta of 2.04. Sportradar Group has a 52-week low of $10.06 and a 52-week high of $28.47.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last released its earnings results on Monday, May 12th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. Sportradar Group had a net margin of 5.16% and a return on equity of 6.38%. The firm had revenue of $336.71 million during the quarter, compared to analysts' expectations of $318.81 million. Sportradar Group's revenue was up 17.0% compared to the same quarter last year. Equities 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

Several institutional investors and hedge funds have recently modified their holdings of SRAD. Acadian Asset Management LLC raised its holdings in shares of 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 during the period. Integrity Alliance LLC. purchased a new stake in shares of Sportradar Group during the first quarter valued at approximately $321,000. Goldman Sachs Group Inc. raised its stake in shares of Sportradar Group by 175.4% during the first quarter. Goldman Sachs Group Inc. now owns 610,384 shares of the company's stock valued at $13,197,000 after purchasing an additional 388,769 shares during the period. Nixon Capital LLC lifted its position in shares of Sportradar Group by 8.2% during the first quarter. Nixon Capital LLC now owns 519,059 shares of the company's stock worth $11,222,000 after purchasing an additional 39,321 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Sportradar Group in the first quarter valued at $573,000.

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.