Sportradar Group (NASDAQ:SRAD) Stock Price Expected to Rise, Truist Financial Analyst Says

Sportradar Group (NASDAQ:SRAD - Get Free Report) had its price target raised by stock analysts at Truist Financial from $33.00 to $34.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price objective would suggest a potential upside of 13.52% from the company's previous close.

A number of other analysts have also recently commented on the company. Benchmark lifted their price objective on Sportradar Group from $26.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Morgan Stanley lifted their price objective on Sportradar Group from $22.00 to $23.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 16th. 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 research report on Tuesday, April 22nd. Macquarie assumed coverage on Sportradar Group in a research report on Friday, June 20th. They set an "outperform" rating and a $32.00 price target on the stock. Finally, Arete Research raised Sportradar Group to a "hold" rating in a research report on Wednesday, July 9th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Sportradar Group currently has an average rating of "Moderate Buy" and an average target price of $29.13.

Sportradar Group Price Performance

Sportradar Group stock traded up $0.39 during midday trading on Wednesday, reaching $29.95. The company's stock had a trading volume of 2,186,239 shares, compared to its average volume of 1,155,977. Sportradar Group has a fifty-two week low of $10.06 and a fifty-two week high of $30.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.35 and a current ratio of 1.35. The stock's 50 day simple moving average is $25.53 and its 200 day simple moving average is $22.74. The firm has a market capitalization of $33.33 billion, a PE ratio of 157.64 and a beta of 2.07.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.07 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $318.81 million. The business's quarterly revenue was up 17.0% on a year-over-year basis. On average, equities research analysts forecast that Sportradar Group will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On Sportradar Group

Hedge funds have recently modified their holdings of the stock. Sei Investments Co. purchased a new stake in shares of Sportradar Group during the fourth quarter valued at $3,626,000. Mackenzie Financial Corp purchased a new stake in shares of Sportradar Group during the fourth quarter valued at $1,236,000. Renaissance Technologies LLC lifted its holdings in shares of Sportradar Group by 79.2% during the fourth quarter. Renaissance Technologies LLC now owns 382,310 shares of the company's stock valued at $6,629,000 after purchasing an additional 169,010 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Sportradar Group during the fourth quarter valued at $1,980,000. Finally, Trexquant Investment LP lifted its stake in Sportradar Group by 39.0% in the 4th quarter. Trexquant Investment LP now owns 182,877 shares of the company's stock worth $3,171,000 after acquiring an additional 51,350 shares in the last quarter.

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.