Sportradar Group (NASDAQ:SRAD) Trading Down 9.7% - Time to Sell?

Key Points

• Sportradar Group's shares fell by 9.7% to trade at $26.66 after closing at $29.53, marking a significant drop in trading volume.
• Despite the recent decline, analysts maintain a mostly positive outlook, with 13 buy ratings and an average target price of $29.25.
• The company reported a revenue increase of 17% year-over-year, achieving $336.71 million in revenue and a quarterly EPS of $0.07, exceeding expectations.

Sportradar Group AG (NASDAQ:SRAD - Get Free Report)'s stock price fell 9.7% on Tuesday . The company traded as low as $26.25 and last traded at $26.66. 846,547 shares changed hands during trading, a decline of 48% from the average session volume of 1,631,168 shares. The stock had previously closed at $29.53.

Wall Street Analysts Forecast Growth

SRAD has been the topic of several recent analyst reports. Needham & Company LLC raised their target price on shares of Sportradar Group from $28.00 to $34.00 and gave the company a "buy" rating in a report on Tuesday. Benchmark boosted their price objective on Sportradar Group from $26.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Jefferies Financial Group boosted their price target on Sportradar Group from $27.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Macquarie assumed coverage on shares of Sportradar Group in a research note on Friday, June 20th. They set an "outperform" rating and a $32.00 price target for the company. Finally, BTIG Research began coverage on shares of Sportradar Group in a research note on Friday, April 11th. They issued a "buy" rating and a $28.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Sportradar Group presently has an average rating of "Moderate Buy" and a consensus target price of $29.88.

Sportradar Group Stock Performance

The company has a 50 day moving average price of $27.16 and a 200 day moving average price of $23.83. 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 company has a market capitalization of $30.96 billion, a price-to-earnings ratio of 77.28 and a beta of 2.07.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.04 by $0.13. Sportradar Group had a return on equity of 11.93% and a net margin of 9.35%. The firm had revenue of $374.25 million during the quarter, compared to the consensus estimate of $315.30 million. The company's quarterly revenue was up 14.1% on a year-over-year basis. Equities research analysts predict that Sportradar Group AG will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sportradar Group

Several large investors have recently added to or reduced their stakes in SRAD. Unisphere Establishment bought a new stake in Sportradar Group during the fourth quarter worth $51,596,000. Driehaus Capital Management LLC purchased a new stake in shares of Sportradar Group in the first quarter valued at about $48,596,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Sportradar Group during the first quarter valued at about $20,657,000. Granahan Investment Management LLC boosted its holdings in 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 last quarter. Finally, Penn Capital Management Company LLC purchased a new stake in Sportradar Group in the 4th quarter valued at about $14,029,000.

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.