Sportradar Group (NASDAQ:SRAD) Given New $23.00 Price Target at Morgan Stanley

Sportradar Group (NASDAQ:SRAD - Get Free Report) had its price objective hoisted by equities research analysts at Morgan Stanley from $22.00 to $23.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price target would suggest a potential downside of 0.04% from the company's previous close.

Other equities research analysts also recently issued reports about the stock. UBS Group lifted their price target on shares of Sportradar Group from $24.00 to $29.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. JPMorgan Chase & Co. upped their price objective on shares of Sportradar Group from $26.00 to $27.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. BTIG Research initiated coverage on shares of Sportradar Group in a research report on Friday, April 11th. They issued a "buy" rating and a $28.00 target price for the company. Needham & Company LLC reissued a "buy" rating and set a $27.00 target price on shares of Sportradar Group in a research note on Wednesday, April 2nd. Finally, Benchmark upped their price objective on shares of Sportradar Group from $26.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Sportradar Group has an average rating of "Moderate Buy" and a consensus price target of $26.91.

Sportradar Group Stock Performance

SRAD traded down $0.95 during trading hours on Wednesday, reaching $23.01. The company's stock had a trading volume of 1,486,237 shares, compared to its average volume of 715,811. Sportradar Group has a 52 week low of $9.17 and a 52 week high of $24.22. The firm has a market cap of $25.60 billion, a PE ratio of 115.06, a price-to-earnings-growth ratio of 1.53 and a beta of 2.10. The company's 50-day moving average is $21.72 and its 200-day moving average is $18.53. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.53 and a current ratio of 1.53.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last announced its quarterly earnings results on Wednesday, March 19th. The company reported $0.00 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.04). The company had revenue of $307.00 million during the quarter, compared to analyst estimates of $294.60 million. Sportradar Group had a net margin of 5.61% and a return on equity of 6.69%. On average, equities analysts forecast that Sportradar Group will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Sportradar Group

Several institutional investors have recently added to or reduced their stakes in the business. Unisphere Establishment bought a new stake in Sportradar Group in the fourth quarter valued at $51,596,000. Granahan Investment Management LLC raised its position in shares of Sportradar Group by 86.2% during the fourth quarter. Granahan Investment Management LLC now owns 2,008,977 shares of the company's stock worth $34,836,000 after purchasing an additional 930,310 shares during the period. Sellaronda Global Management LP acquired a new stake in Sportradar Group in the 4th quarter valued at $14,739,000. Penn Capital Management Company LLC acquired a new position in Sportradar Group during the fourth quarter worth $14,029,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Sportradar Group during the fourth quarter valued at about $12,887,000.

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.