Sportradar Group (NASDAQ:SRAD) Stock Gets Price Target Trim from Canaccord Genuity Group

Sportradar Group (NASDAQ:SRAD) had its price objective reduced by Canaccord Genuity Group from $24.00 to $22.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus decreased their target price on shares of Sportradar Group from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Wells Fargo & Company set a $20.00 price target on shares of Sportradar Group in a research report on Tuesday, August 4th. UBS Group downgraded shares of Sportradar Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $30.00 to $16.00 in a research note on Wednesday, August 5th. JPMorgan Chase & Co. cut their price target on shares of Sportradar Group from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 20th. Finally, Citizens Jmp decreased their price target on shares of Sportradar Group from $24.00 to $20.00 and set a “market outperform” rating on the stock in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.22.

Sportradar Group Stock Performance

Sportradar Group stock opened at $11.95 on Friday. The stock has a fifty day moving average price of $12.56 and a 200 day moving average price of $13.78. Sportradar Group has a 52 week low of $11.39 and a 52 week high of $27.74. The firm has a market capitalization of $3.58 billion, a P/E ratio of 199.20 and a beta of 1.59. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.06.

Sportradar Group (NASDAQ:SRAD) last issued its quarterly earnings results on Tuesday, June 30th. The company reported ($0.01) earnings per share (EPS) for the quarter. The business had revenue of $431.19 million during the quarter. Sportradar Group had a return on equity of 1.89% and a net margin of 1.23%. Equities research analysts anticipate that Sportradar Group will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vontobel Holding Ltd. lifted its holdings in shares of Sportradar Group by 16.2% during the 3rd quarter. Vontobel Holding Ltd. now owns 31,311 shares of the company’s stock valued at $362,000 after acquiring an additional 4,359 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Sportradar Group during the 2nd quarter worth $560,000. Squarepoint Ops LLC boosted its position in Sportradar Group by 3.2% during the 2nd quarter. Squarepoint Ops LLC now owns 30,518 shares of the company’s stock worth $457,000 after purchasing an additional 958 shares during the period. Headlands Technologies LLC acquired a new stake in Sportradar Group in the 2nd quarter valued at $1,704,000. Finally, Allied Private Wealth LLC acquired a new stake in Sportradar Group in the 2nd quarter valued at $61,000.

About Sportradar Group

Sportradar Group AG is a sports technology and data company that provides business-to-business solutions to sports federations, leagues, media organizations, sportsbooks and other clients worldwide. The company collects, processes and distributes sports data, helping customers deliver live scores, statistics, schedules, news and other sports content across digital platforms.

Its products and services include real-time data feeds, betting odds and managed betting services, audiovisual content, marketing solutions, fan-engagement tools and sports integrity services.