Sportradar Group (NASDAQ:SRAD) Shares Down 7.2% on Analyst Downgrade

Key Points

• Sportradar shares fell 7.2% after Truist cut its price target from $32 to $26 (still a "buy"); the stock traded as low as $15.81 and last at $15.63 on volume of 666,550 shares, about 75% below the average session volume.
• Several analysts have trimmed targets (e.g., Goldman Sachs to $24, Needham to $27), but the consensus remains a "Moderate Buy" with an average target of $29.73 and a rating mix of 1 Strong Buy, 13 Buy, 3 Hold and 1 Sell.
• Sportradar missed EPS ($0.01 vs. $0.10 expected) despite revenue of $432.8M beating estimates and rising 20.2% year-over-year; the company has a $4.68B market cap, P/E of 47.34 and low debt-to-equity of 0.05.

Sportradar Group AG (NASDAQ:SRAD - Get Free Report)'s stock price traded down 7.2% on Wednesday after Truist Financial lowered their price target on the stock from $32.00 to $26.00. Truist Financial currently has a buy rating on the stock. Sportradar Group traded as low as $15.81 and last traded at $15.6310. 666,550 shares changed hands during trading, a decline of 75% from the average session volume of 2,614,118 shares. The stock had previously closed at $16.84.

Several other equities research analysts have also recently weighed in on SRAD. The Goldman Sachs Group dropped their price target on shares of Sportradar Group from $35.00 to $24.00 and set a "neutral" rating for the company in a research report on Wednesday, March 4th. Needham & Company LLC lowered their price objective on shares of Sportradar Group from $34.00 to $27.00 and set a "buy" rating for the company in a research note on Wednesday, March 4th. Weiss Ratings reissued a "sell (d+)" rating on shares of Sportradar Group in a research note on Friday, March 27th. Citizens Jmp reduced their price target on Sportradar Group from $34.00 to $31.00 and set a "market outperform" rating on the stock in a report on Wednesday, March 4th. Finally, Benchmark reiterated a "buy" rating on shares of Sportradar Group in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $29.73.

Institutional Trading of Sportradar Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Sportradar Group during the 1st quarter worth approximately $573,000. Goldman Sachs Group Inc. lifted its stake in shares of Sportradar Group by 175.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 610,384 shares of the company's stock valued at $13,197,000 after purchasing an additional 388,769 shares during the period. Geode Capital Management LLC boosted its position in shares of Sportradar Group by 5.3% during the second quarter. Geode Capital Management LLC now owns 182,112 shares of the company's stock valued at $5,114,000 after purchasing an additional 9,162 shares in the last quarter. Cetera Investment Advisers purchased a new stake in Sportradar Group in the second quarter worth $316,000. Finally, Legal & General Group Plc purchased a new stake in Sportradar Group in the second quarter worth $260,000.

Sportradar Group Stock Performance

The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.05. The firm has a market cap of $4.68 billion, a P/E ratio of 47.34 and a beta of 1.98. The business has a fifty day simple moving average of $17.66 and a 200-day simple moving average of $20.77.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last announced its earnings results 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 business had revenue of $432.81 million for the quarter, compared to the consensus estimate of $369.59 million. The business's revenue was up 20.2% on a year-over-year basis. On average, sell-side analysts predict that Sportradar Group AG will post 0.52 EPS for the current fiscal year.

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.

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