Sportradar Group (NASDAQ:SRAD) Upgraded to "Strong-Buy" at Zacks Research

Key Points

• Sportradar Group has been upgraded from a "hold" rating to a "strong-buy" by Zacks Research, indicating increased confidence in the company's prospects.
• Recent research reports reveal that the company has seen positive movements in price targets, with analysts setting targets between $30.00 and $34.00.
• Sportradar Group's quarterly earnings beat expectations, reporting $0.17 earnings per share and $374.25 million in revenue, reflecting a 14.1% increase year-over-year.

Zacks Research upgraded shares of Sportradar Group (NASDAQ:SRAD - Free Report) from a hold rating to a strong-buy rating in a report issued on Monday, September 1st,Zacks.com reports.

A number of other equities analysts have also recently issued reports on SRAD. The Goldman Sachs Group initiated coverage on shares of Sportradar Group in a research note on Monday, July 21st. They issued a "neutral" rating and a $31.00 price target on the stock. JMP Securities upped their price target on shares of Sportradar Group from $25.00 to $30.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 15th. UBS Group boosted their target price on Sportradar Group from $29.00 to $39.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Arete Research raised Sportradar Group to a "hold" rating in a research report on Wednesday, July 9th. Finally, Jefferies Financial Group boosted their target price on Sportradar Group from $27.00 to $32.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Sportradar Group has a consensus rating of "Moderate Buy" and a consensus target price of $30.88.

Sportradar Group Stock Down 1.0%

Shares of SRAD stock traded down $0.30 during mid-day trading on Monday, reaching $30.57. 1,056,929 shares of the company's stock traded hands, compared to its average volume of 1,663,336. Sportradar Group has a 12 month low of $11.45 and a 12 month high of $32.22. The company has a market cap of $9.15 billion, a P/E ratio of 84.61 and a beta of 2.07. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.04. The company's 50-day moving average price is $29.59 and its 200-day moving average price is $25.28.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.13. Sportradar Group had a net margin of 9.35% and a return on equity of 11.74%. The firm had revenue of $374.25 million for the quarter, compared to analysts' expectations of $315.30 million. The business's revenue for the quarter was up 14.1% on a year-over-year basis. Sportradar Group has set its FY 2025 guidance at EPS. On average, equities analysts expect that Sportradar Group will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ORG Partners LLC boosted its stake in Sportradar Group by 2,137.8% in the 2nd quarter. ORG Partners LLC now owns 1,007 shares of the company's stock worth $28,000 after purchasing an additional 962 shares during the period. Pacer Advisors Inc. boosted its stake in Sportradar Group by 43.9% in the 1st quarter. Pacer Advisors Inc. now owns 1,759 shares of the company's stock worth $38,000 after purchasing an additional 537 shares during the period. TD Private Client Wealth LLC boosted its stake in Sportradar Group by 3,058.0% in the 2nd quarter. TD Private Client Wealth LLC now owns 1,579 shares of the company's stock worth $44,000 after purchasing an additional 1,529 shares during the period. SBI Securities Co. Ltd. boosted its stake in Sportradar Group by 34.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,146 shares of the company's stock worth $46,000 after purchasing an additional 551 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of Sportradar Group by 10,125.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the company's stock valued at $46,000 after acquiring an additional 1,620 shares during 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.