Sportradar Group (NASDAQ:SRAD) Price Target Lowered to $26.00 at Truist Financial

Key Points

• Truist lowered its price target on Sportradar to $26 (from $32) but kept a "buy" rating, implying roughly a 50% upside from the prior close.
• Analyst consensus remains a "Moderate Buy" with a $29.63 average target, even as several firms (Goldman, Stifel, Needham, etc.) trimmed their price targets.
• Recent results: the company reported $0.01 EPS (missing estimates) but revenue of $432.8M beat expectations and rose 20.2% year-over-year; the stock trades near $17.31 with a one-year range of $14.70–$32.22.

Sportradar Group (NASDAQ:SRAD - Get Free Report) had its target price lowered by equities researchers at Truist Financial from $32.00 to $26.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's price target suggests a potential upside of 50.21% from the company's previous close.

A number of other analysts have also commented on SRAD. Stifel Nicolaus decreased their price target on shares of Sportradar Group from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Thursday, April 9th. Benchmark restated a "buy" rating on shares of Sportradar Group in a report on Wednesday, January 21st. Guggenheim reaffirmed a "buy" rating on shares of Sportradar Group in a research report on Tuesday, March 3rd. The Goldman Sachs Group lowered their price objective on Sportradar Group from $35.00 to $24.00 and set a "neutral" rating for the company in a research note on Wednesday, March 4th. Finally, Needham & Company LLC reduced their target price on Sportradar Group from $34.00 to $27.00 and set a "buy" rating for the company in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Sportradar Group presently has an average rating of "Moderate Buy" and a consensus target price of $29.63.

Sportradar Group Stock Performance

Shares of SRAD opened at $17.31 on Tuesday. The stock has a 50-day moving average of $17.67 and a 200-day moving average of $20.84. Sportradar Group has a one year low of $14.70 and a one year high of $32.22. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market cap of $5.18 billion, a PE ratio of 52.47 and a beta of 1.98.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.09). Sportradar Group had a net margin of 7.73% and a return on equity of 10.32%. The firm had revenue of $432.81 million during the quarter, compared to analyst estimates of $369.59 million. Sportradar Group's revenue was up 20.2% compared to the same quarter last year. On average, equities research analysts predict that Sportradar Group will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Sportradar Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its holdings in Sportradar Group by 93.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,286 shares of the company's stock worth $31,000 after buying an additional 620 shares during the period. Empowered Funds LLC bought a new stake in Sportradar Group during the fourth quarter worth about $31,000. Itau Unibanco Holding S.A. purchased a new stake in Sportradar Group in the fourth quarter worth about $45,000. Tower Research Capital LLC TRC increased its stake in shares of Sportradar Group by 10,125.0% during the second 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 in the last quarter. Finally, CWM LLC lifted its holdings in shares of Sportradar Group by 316.0% during the fourth quarter. CWM LLC now owns 2,475 shares of the company's stock valued at $59,000 after purchasing an additional 1,880 shares during the last quarter.

About Sportradar Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.