Sportradar Group (NASDAQ:SRAD) Reaches New 52-Week High After Analyst Upgrade

Shares of Sportradar Group AG (NASDAQ:SRAD) hit a new 52-week high on Wednesday after Truist Financial raised their price target on the stock from $33.00 to $34.00. Truist Financial currently has a buy rating on the stock. Sportradar Group traded as high as $29.80 and last traded at $29.72, with a volume of 553 shares trading hands. The stock had previously closed at $29.56.

SRAD has been the topic of a number of other research reports. Citigroup boosted their price objective on shares of Sportradar Group from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, March 20th. Arete began coverage on Sportradar Group in a research note on Wednesday, July 9th. They issued a “neutral” rating and a $31.00 price target on the stock. UBS Group increased their price target on Sportradar Group from $24.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, April 8th. Morgan Stanley lifted their price objective on Sportradar Group from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. upped their target price on Sportradar Group from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.13.

Hedge Funds Weigh In On Sportradar Group

Large investors have recently added to or reduced their stakes in the company. National Bank of Canada FI raised 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 worth $27,000 after purchasing an additional 1,462 shares during the period. ORG Partners LLC grew its position in shares of Sportradar Group by 2,137.8% during the 2nd quarter. ORG Partners LLC now owns 1,007 shares of the company’s stock valued at $28,000 after buying an additional 962 shares during the last quarter. Pacer Advisors Inc. raised its stake in Sportradar Group by 43.9% during the first quarter. Pacer Advisors Inc. now owns 1,759 shares of the company’s stock worth $38,000 after acquiring an additional 537 shares during the period. US Bancorp DE acquired a new stake in Sportradar Group during the fourth quarter worth about $39,000. Finally, Loomis Sayles & Co. L P bought a new position in Sportradar Group in the fourth quarter worth about $43,000.

Sportradar Group Stock Performance

The company has a market capitalization of $33.33 billion, a price-to-earnings ratio of 157.64 and a beta of 2.07. The stock has a 50 day simple moving average of $25.53 and a 200 day simple moving average of $22.74. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.04.

Sportradar Group (NASDAQ:SRAD) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. Sportradar Group had a return on equity of 6.38% and a net margin of 5.16%. The business had revenue of $336.71 million for the quarter, compared to the consensus estimate of $318.81 million. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, analysts anticipate that Sportradar Group AG will post 0.15 earnings per share for the current fiscal year.

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.