Stifel Nicolaus Has Lowered Expectations for Sportradar Group (NASDAQ:SRAD) Stock Price

Key Points

• Stifel Nicolaus cut its price target on Sportradar from $28 to $25 while keeping a "buy" rating, with the new target implying about a 55.61% upside from the prior close.
• Analyst consensus remains a "Moderate Buy" with a $30 average price target, though several firms (including Goldman Sachs, BTIG and Wells Fargo) have recently trimmed targets into the mid-$20s and ratings across the street range from Strong Buy to Sell.
• Sportradar's latest quarter missed EPS ($0.01 vs. $0.10 est.) but beat revenue ($432.8M vs. $369.6M), with revenue up 20.2% year-over-year; the stock trades near $16 with a $4.81B market cap and a 52-week range of $15.73–$32.22.

Sportradar Group (NASDAQ:SRAD - Get Free Report) had its target price dropped by research analysts at Stifel Nicolaus from $28.00 to $25.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' target price would indicate a potential upside of 55.61% from the company's previous close.

Other analysts also recently issued research reports about the company. Benchmark reiterated a "buy" rating on shares of Sportradar Group in a research report on Wednesday, January 21st. BTIG Research cut their price objective on Sportradar Group from $32.00 to $24.00 and set a "buy" rating for the company in a report on Wednesday, March 4th. The Goldman Sachs Group reduced their price objective on Sportradar Group from $35.00 to $24.00 and set a "neutral" rating for the company in a research note on Wednesday, March 4th. Truist Financial set a $32.00 target price on shares of Sportradar Group in a report on Tuesday, March 3rd. Finally, Wells Fargo & Company dropped their price target on Sportradar Group from $26.00 to $24.00 and set an "overweight" rating for the company in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Sportradar Group currently has an average rating of "Moderate Buy" and a consensus price target of $30.00.

Sportradar Group Price Performance

SRAD opened at $16.07 on Thursday. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 50.07 and a beta of 1.98. Sportradar Group has a 1 year low of $15.73 and a 1 year high of $32.22. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.17 and a quick ratio of 1.36. The firm's fifty day moving average price is $17.84 and its two-hundred day moving average price is $21.55.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last posted its quarterly 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). The company had revenue of $432.81 million during the quarter, compared to the consensus estimate of $369.59 million. Sportradar Group had a return on equity of 10.32% and a net margin of 7.73%.The firm's quarterly revenue was up 20.2% compared to the same quarter last year. As a group, analysts anticipate that Sportradar Group will post 0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sportradar Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Sportradar Group in the 1st quarter worth $573,000. Goldman Sachs Group Inc. grew its holdings in shares of Sportradar Group by 175.4% in the first 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 in the last quarter. Geode Capital Management LLC lifted its holdings in Sportradar Group by 5.3% during the 2nd quarter. Geode Capital Management LLC now owns 182,112 shares of the company's stock worth $5,114,000 after buying an additional 9,162 shares in the last quarter. Cetera Investment Advisers purchased a new position in Sportradar Group in the 2nd quarter valued at approximately $316,000. Finally, Legal & General Group Plc purchased a new position in Sportradar Group in the 2nd quarter valued at approximately $260,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.