Needham & Company LLC Reaffirms "Buy" Rating for Sportradar Group (NASDAQ:SRAD)

Sportradar Group (NASDAQ:SRAD - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They presently have a $16.00 price objective on the stock. Needham & Company LLC's target price indicates a potential upside of 11.58% from the stock's current price.

A number of other brokerages have also weighed in on SRAD. JMP Securities raised Sportradar Group from a "market perform" rating to an "outperform" rating and set a $16.00 price target on the stock in a research note on Wednesday, September 4th. Canaccord Genuity Group restated a "buy" rating and issued a $16.00 price target on shares of Sportradar Group in a research report on Wednesday, August 14th. Morgan Stanley upped their price target on shares of Sportradar Group from $12.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. raised Sportradar Group from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $12.00 to $15.00 in a research note on Monday, October 21st. Finally, Benchmark upped their price objective on shares of Sportradar Group from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Sportradar Group has a consensus rating of "Moderate Buy" and an average price target of $15.38.

Sportradar Group Stock Up 13.4 %

SRAD stock traded up $1.69 during mid-day trading on Thursday, reaching $14.34. The company had a trading volume of 1,992,905 shares, compared to its average volume of 408,573. The firm has a fifty day simple moving average of $12.15 and a 200 day simple moving average of $11.20. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.54 and a current ratio of 1.54. Sportradar Group has a fifty-two week low of $9.17 and a fifty-two week high of $14.61. The company has a market capitalization of $15.94 billion, a price-to-earnings ratio of 157.35, a price-to-earnings-growth ratio of 15.50 and a beta of 2.05.

Institutional Investors Weigh In On Sportradar Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC increased its position in Sportradar Group by 133.7% during the second quarter. Millennium Management LLC now owns 1,636,129 shares of the company's stock worth $18,292,000 after purchasing an additional 935,909 shares during the last quarter. Divisadero Street Capital Management LP acquired a new stake in Sportradar Group during the 2nd quarter worth $8,392,000. AM Investment Strategies LLC lifted its holdings in shares of Sportradar Group by 31.1% during the second quarter. AM Investment Strategies LLC now owns 465,540 shares of the company's stock worth $5,205,000 after purchasing an additional 110,520 shares during the period. Marshall Wace LLP increased its position in Sportradar Group by 152.8% during the 2nd quarter. Marshall Wace LLP now owns 391,806 shares of the company's stock worth $4,380,000 after purchasing an additional 236,831 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Sportradar Group by 65.3% in the second quarter. Renaissance Technologies LLC now owns 343,700 shares of the company's stock valued at $3,843,000 after acquiring an additional 135,800 shares during the period.

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.