Sportradar Group (NASDAQ:SRAD) Reaches New 12-Month High - Here's Why

Key Points

• Sportradar Group AG (NASDAQ:SRAD) shares reached a new 52-week high of $30.73 during trading, reflecting strong investor interest with a trading volume of over 1.46 million shares.
• Several analysts have issued buy ratings for Sportradar, with a consensus target price of $29.88, indicating positive sentiment in the market.
• The company's recent quarterly earnings exceeded expectations, reporting a 14.1% increase in revenue year-over-year, with total revenue of $374.25 million and an EPS of $0.17.

Sportradar Group AG (NASDAQ:SRAD - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $30.65 and last traded at $30.73, with a volume of 1465360 shares trading hands. The stock had previously closed at $28.99.

Analyst Ratings Changes

A number of research analysts have commented on the company. Macquarie assumed coverage on Sportradar Group in a research report on Friday, June 20th. They issued an "outperform" rating and a $32.00 price objective on the stock. Bank of America upgraded Sportradar Group from an "underperform" rating to a "buy" rating and set a $28.00 price objective on the stock in a research report on Tuesday, April 22nd. Jefferies Financial Group increased their price objective on Sportradar Group from $27.00 to $32.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Arete assumed coverage on Sportradar Group in a research report on Wednesday, July 9th. They issued a "neutral" rating and a $31.00 price objective on the stock. Finally, Benchmark increased their price objective on Sportradar Group from $26.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Sportradar Group currently has an average rating of "Moderate Buy" and a consensus target price of $29.88.

Sportradar Group Price Performance

The company has a market cap of $34.34 billion, a P/E ratio of 85.72 and a beta of 2.07. The company has a fifty day moving average price of $27.51 and a two-hundred day moving average price of $24.06. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.31 and a current ratio of 1.31.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.13. Sportradar Group had a return on equity of 11.74% and a net margin of 9.35%. The business had revenue of $374.25 million during the quarter, compared to analysts' expectations of $315.30 million. The business's revenue was up 14.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Sportradar Group AG will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sportradar Group

A number of hedge funds and other institutional investors have recently bought and sold shares of SRAD. LPL Financial LLC raised its position in shares of Sportradar Group by 3.7% in the fourth quarter. LPL Financial LLC now owns 35,663 shares of the company's stock valued at $618,000 after buying an additional 1,287 shares in the last quarter. JPMorgan Chase & Co. raised its position in Sportradar Group by 45.7% during the fourth quarter. JPMorgan Chase & Co. now owns 76,890 shares of the company's stock valued at $1,333,000 after purchasing an additional 24,106 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Sportradar Group by 11.3% during the fourth quarter. Geode Capital Management LLC now owns 138,661 shares of the company's stock worth $2,404,000 after buying an additional 14,037 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Sportradar Group during the fourth quarter worth $518,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Sportradar Group during the fourth quarter worth $1,100,000.

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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