Brokerages Set Sportradar Group AG (NASDAQ:SRAD) Target Price at $16.00

Shares of Sportradar Group AG (NASDAQ:SRAD) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $16.00.

SRAD has been the subject of several research analyst reports. JPMorgan Chase & Co. upgraded shares of Sportradar Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $12.00 to $15.00 in a report on Monday, October 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Sportradar Group in a research note on Thursday, November 7th. Morgan Stanley lifted their price target on Sportradar Group from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $16.00 price objective on shares of Sportradar Group in a research report on Wednesday, August 14th. Finally, JMP Securities upgraded Sportradar Group from a “market perform” rating to an “outperform” rating and set a $16.00 price objective for the company in a report on Wednesday, September 4th.

Institutional Trading of Sportradar Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP boosted its position in Sportradar Group by 187.4% during the second quarter. Quarry LP now owns 2,690 shares of the company’s stock valued at $30,000 after purchasing an additional 1,754 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Sportradar Group in the 3rd quarter valued at about $41,000. nVerses Capital LLC increased its position in Sportradar Group by 120.0% during the second quarter. nVerses Capital LLC now owns 4,400 shares of the company’s stock worth $49,000 after buying an additional 2,400 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Sportradar Group in the 1st quarter valued at $60,000. Finally, Barclays PLC lifted its stake in shares of Sportradar Group by 3,098.9% during the 3rd quarter. Barclays PLC now owns 5,918 shares of the company’s stock worth $72,000 after buying an additional 5,733 shares during the last quarter.

Sportradar Group Price Performance

Shares of SRAD opened at $17.34 on Monday. The stock has a 50 day simple moving average of $13.92 and a 200 day simple moving average of $12.10. Sportradar Group has a 52-week low of $9.17 and a 52-week high of $18.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.53 and a current ratio of 1.53. The firm has a market capitalization of $19.27 billion, a PE ratio of 86.70, a P/E/G ratio of 2.12 and a beta of 2.05.

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.