Canaccord Genuity Group Forecasts Strong Price Appreciation for Sportradar Group (NASDAQ:SRAD) Stock

Sportradar Group (NASDAQ:SRAD - Free Report) had its price target hoisted by Canaccord Genuity Group from $28.00 to $30.00 in a research report released on Thursday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

SRAD has been the topic of several other research reports. Guggenheim initiated coverage on shares of Sportradar Group in a research note on Wednesday, February 26th. They issued a "buy" rating and a $27.00 target price on the stock. Citigroup boosted their price target on shares of Sportradar Group from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. Needham & Company LLC lifted their target price on shares of Sportradar Group from $18.00 to $27.00 and gave the company a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. increased their price target on Sportradar Group from $20.00 to $26.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Benchmark lifted their price objective on Sportradar Group from $24.00 to $26.00 and gave the company a "buy" rating in a research report on Thursday. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $24.67.

Sportradar Group Price Performance

NASDAQ SRAD traded up $0.59 on Thursday, reaching $22.91. The company's stock had a trading volume of 387,056 shares, compared to its average volume of 610,549. The firm has a market cap of $25.46 billion, a PE ratio of 114.56, a price-to-earnings-growth ratio of 1.53 and a beta of 2.19. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.04. Sportradar Group has a 52 week low of $9.17 and a 52 week high of $23.12. The business has a 50-day moving average price of $21.01 and a 200 day moving average price of $16.99.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last issued its earnings results on Wednesday, March 19th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.04). The company had revenue of $307.00 million during the quarter, compared to analyst estimates of $294.60 million. Sportradar Group had a return on equity of 6.69% and a net margin of 5.61%. Sell-side analysts expect that Sportradar Group will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Sportradar Group

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in Sportradar Group by 120.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 52,784 shares of the company's stock worth $639,000 after purchasing an additional 28,878 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Sportradar Group during the third quarter worth approximately $479,000. Cornerstone Investment Partners LLC acquired a new position in Sportradar Group in the fourth quarter valued at approximately $199,000. Moody National Bank Trust Division boosted its stake in Sportradar Group by 80.6% in the fourth quarter. Moody National Bank Trust Division now owns 136,926 shares of the company's stock valued at $2,374,000 after acquiring an additional 61,105 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new stake in Sportradar Group during the 4th quarter worth $406,000.

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.