Sportradar Group (NASDAQ:SRAD) Earns "Buy" Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Sportradar Group (NASDAQ:SRAD - Free Report) in a research note published on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $27.00 target price on the stock.

SRAD has been the subject of several other reports. Citigroup boosted their price target on Sportradar Group from $25.00 to $27.00 and gave the company a "buy" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. upped their target price on Sportradar Group from $20.00 to $26.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. Canaccord Genuity Group raised their price target on Sportradar Group from $28.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, March 20th. Guggenheim started coverage on Sportradar Group in a research note on Wednesday, February 26th. They issued a "buy" rating and a $27.00 price target for the company. Finally, JMP Securities reiterated a "market outperform" rating and set a $19.00 price objective on shares of Sportradar Group in a research note on Monday, January 27th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Sportradar Group presently has an average rating of "Moderate Buy" and an average target price of $26.00.

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Sportradar Group Stock Performance

Shares of NASDAQ SRAD traded down $0.87 during trading hours on Wednesday, reaching $20.32. 2,058,404 shares of the stock were exchanged, compared to its average volume of 659,701. The stock's fifty day simple moving average is $21.39 and its 200 day simple moving average is $17.67. The firm has a market capitalization of $22.61 billion, a price-to-earnings ratio of 101.61, a P/E/G ratio of 1.53 and a beta of 2.10. Sportradar Group has a 52 week low of $9.17 and a 52 week high of $23.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.53 and a current ratio of 1.53.

Sportradar Group (NASDAQ:SRAD - Get Free Report) last announced 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 business had revenue of $307.00 million during the quarter, compared to the consensus estimate of $294.60 million. Sportradar Group had a net margin of 5.61% and a return on equity of 6.69%. Sell-side analysts predict that Sportradar Group will post 0.15 EPS for the current year.

Institutional Investors Weigh In On Sportradar Group

A number of hedge funds have recently made changes to their positions in the stock. Sei Investments Co. bought a new position in Sportradar Group in the 4th quarter valued at approximately $3,626,000. JPMorgan Chase & Co. lifted its stake in shares of Sportradar Group by 120.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 52,784 shares of the company's stock valued at $639,000 after acquiring an additional 28,878 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Sportradar Group during the 3rd quarter valued at $479,000. Cornerstone Investment Partners LLC bought a new stake in Sportradar Group during the 4th quarter worth $199,000. Finally, Moody National Bank Trust Division increased its holdings in Sportradar Group by 80.6% in the 4th quarter. Moody National Bank Trust Division now owns 136,926 shares of the company's stock worth $2,374,000 after purchasing an additional 61,105 shares in the last quarter.

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.