Canaccord Genuity Group Issues Positive Forecast for Sportradar Group (NASDAQ:SRAD) Stock Price

Sportradar Group (NASDAQ:SRAD) had its target price boosted by research analysts at Canaccord Genuity Group from $20.00 to $28.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 24.44% from the company’s previous close.

SRAD has been the subject of a number of other research reports. Benchmark upped their target price on Sportradar Group from $14.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 8th. Morgan Stanley upped their price objective on shares of Sportradar Group from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 target price on shares of Sportradar Group in a research note on Thursday, November 7th. Jefferies Financial Group increased their price target on shares of Sportradar Group from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $19.00 price objective on shares of Sportradar Group in a research report on Monday, January 27th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Sportradar Group has an average rating of “Moderate Buy” and an average price target of $18.75.

Sportradar Group Stock Performance

SRAD opened at $22.50 on Tuesday. Sportradar Group has a one year low of $9.17 and a one year high of $22.94. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.53 and a quick ratio of 1.53. The business has a 50 day simple moving average of $19.45 and a two-hundred day simple moving average of $15.46. The firm has a market capitalization of $25.01 billion, a price-to-earnings ratio of 112.51, a PEG ratio of 1.53 and a beta of 2.21.

Institutional Investors Weigh In On Sportradar Group

Hedge funds have recently bought and sold shares of the business. National Bank of Canada FI lifted its holdings in shares of Sportradar Group by 1,366.4% during the fourth quarter. National Bank of Canada FI now owns 1,569 shares of the company’s stock valued at $27,000 after purchasing an additional 1,462 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Sportradar Group during the fourth quarter valued at $28,000. US Bancorp DE bought a new stake in Sportradar Group in the fourth quarter worth $39,000. Point72 Hong Kong Ltd purchased a new stake in shares of Sportradar Group in the third quarter worth $41,000. Finally, Loomis Sayles & Co. L P bought a new position in shares of Sportradar Group during the fourth quarter valued at $43,000.

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.