Sportradar Group (NASDAQ:SRAD) Sets New 1-Year High on Analyst Upgrade

Sportradar Group AG (NASDAQ:SRAD - Get Free Report) shares reached a new 52-week high on Wednesday after Truist Financial raised their price target on the stock from $33.00 to $34.00. Truist Financial currently has a buy rating on the stock. Sportradar Group traded as high as $29.80 and last traded at $29.72, with a volume of 553 shares traded. The stock had previously closed at $29.56.

Several other brokerages have also recently commented on SRAD. JPMorgan Chase & Co. boosted their price objective on shares of Sportradar Group from $26.00 to $27.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Arete Research raised shares of Sportradar Group to a "hold" rating in a research note on Wednesday, July 9th. BTIG Research began coverage on shares of Sportradar Group in a research note on Friday, April 11th. They set a "buy" rating and a $28.00 price objective for the company. Arete initiated coverage on shares of Sportradar Group in a research note on Wednesday, July 9th. They set a "neutral" rating and a $31.00 price objective for the company. Finally, Needham & Company LLC reiterated a "buy" rating and set a $27.00 target price on shares of Sportradar Group in a research report on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Sportradar Group has a consensus rating of "Moderate Buy" and a consensus price target of $29.13.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. ORG Partners LLC lifted its position in Sportradar Group by 2,137.8% during the 2nd quarter. ORG Partners LLC now owns 1,007 shares of the company's stock valued at $28,000 after acquiring an additional 962 shares during the period. National Bank of Canada FI lifted its holdings in shares of Sportradar Group by 1,366.4% during the fourth quarter. National Bank of Canada FI now owns 1,569 shares of the company's stock valued at $27,000 after purchasing an additional 1,462 shares during the last quarter. TD Private Client Wealth LLC boosted its position in shares of 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 in the last quarter. Pacer Advisors Inc. boosted its position in shares of 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 in the last quarter. Finally, SBI Securities Co. Ltd. boosted its position in shares of 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 in the last quarter.

Sportradar Group Stock Performance

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 business has a 50-day moving average price of $25.83 and a 200 day moving average price of $22.96. The stock has a market capitalization of $33.66 billion, a P/E ratio of 159.22 and a beta of 2.07.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.07 EPS for the quarter, beating 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 company had revenue of $336.71 million for the quarter, compared to the consensus estimate of $318.81 million. The firm's revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Sportradar Group AG will post 0.15 EPS for the current fiscal year.

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.