Sportradar Group (NASDAQ:SRAD) Stock Rating Lowered by Zacks Research

Key Points

• Sportradar Group has been downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating, indicating a shift in analyst sentiment towards the stock.
• Meanwhile, several other firms have raised their price targets for Sportradar Group, with JMP Securities increasing theirs from $30.00 to $36.00 and Needham & Company setting theirs from $28.00 to $34.00.
• In the most recent earnings report, Sportradar Group reported $374.25 million in revenue, exceeding expectations by over $58 million, and a net margin of 9.35% with earnings per share of $0.17.

Sportradar Group (NASDAQ:SRAD - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Tuesday,Zacks.com reports.

Several other research firms have also recently weighed in on SRAD. JMP Securities raised their price target on Sportradar Group from $30.00 to $36.00 and gave the company a "market outperform" rating in a report on Wednesday, September 3rd. Needham & Company LLC raised their price target on Sportradar Group from $28.00 to $34.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. The Goldman Sachs Group initiated coverage on Sportradar Group in a report on Monday, July 21st. They issued a "neutral" rating and a $31.00 price target on the stock. Roth Capital initiated coverage on Sportradar Group in a research report on Friday, September 12th. They set a "buy" rating and a $40.00 price objective on the stock. Finally, Truist Financial increased their price objective on Sportradar Group from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Fourteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Sportradar Group has an average rating of "Moderate Buy" and an average target price of $31.88.

Sportradar Group Stock Performance

NASDAQ:SRAD opened at $26.51 on Tuesday. The business's 50-day moving average price is $29.81 and its two-hundred day moving average price is $26.30. Sportradar Group has a twelve month low of $11.72 and a twelve month high of $32.22. The stock has a market cap of $7.94 billion, a P/E ratio of 73.64 and a beta of 2.02. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.04.

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

Hedge Funds Weigh In On Sportradar Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. grew its position in Sportradar Group by 74.2% during the 2nd quarter. Osaic Holdings Inc. now owns 257,745 shares of the company's stock worth $7,237,000 after acquiring an additional 109,790 shares during the last quarter. Orion Porfolio Solutions LLC grew its position in Sportradar Group by 12.1% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 12,107 shares of the company's stock worth $340,000 after acquiring an additional 1,308 shares during the last quarter. Squarepoint Ops LLC grew its position in Sportradar Group by 2.7% during the 2nd quarter. Squarepoint Ops LLC now owns 40,838 shares of the company's stock worth $1,147,000 after acquiring an additional 1,083 shares during the last quarter. State of Wyoming grew its position in Sportradar Group by 30.0% during the 2nd quarter. State of Wyoming now owns 22,126 shares of the company's stock worth $621,000 after acquiring an additional 5,102 shares during the last quarter. Finally, Castleark Management LLC grew its position in shares of Sportradar Group by 26.9% in the 2nd quarter. Castleark Management LLC now owns 326,409 shares of the company's stock worth $9,166,000 after buying an additional 69,150 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.

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