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

Sportradar Group (NASDAQ:SRAD)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a research report issued on Thursday, Benzinga reports. They presently have a $16.00 target price on the stock. Needham & Company LLC’s price target suggests a potential upside of 26.48% from the stock’s current price.

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

Sportradar Group Trading Up 2.0 %

Shares of NASDAQ SRAD opened at $12.65 on Thursday. The company’s fifty day moving average is $12.15 and its 200-day moving average is $11.20. The stock has a market cap of $14.06 billion, a price-to-earnings ratio of 140.57, a P/E/G ratio of 15.50 and a beta of 2.05. Sportradar Group has a twelve month low of $9.17 and a twelve month high of $13.20. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.05.

Institutional Investors Weigh In On Sportradar Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP increased its stake in Sportradar Group by 187.4% in the 2nd quarter. Quarry LP now owns 2,690 shares of the company’s stock valued at $30,000 after buying an additional 1,754 shares during the last quarter. nVerses Capital LLC increased its stake in Sportradar Group by 120.0% in the 2nd quarter. nVerses Capital LLC now owns 4,400 shares of the company’s stock valued at $49,000 after buying an additional 2,400 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Sportradar Group in the 1st quarter valued at $60,000. Point72 Asset Management L.P. acquired a new stake in Sportradar Group in the 2nd quarter valued at $75,000. Finally, GW Henssler & Associates Ltd. acquired a new stake in Sportradar Group in the 3rd quarter valued at $150,000.

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.