Canaccord Genuity Group Forecasts Strong Price Appreciation for Sportradar Group (NASDAQ:SRAD) Stock

Sportradar Group (NASDAQ:SRAD) had its target price increased by stock analysts at Canaccord Genuity Group from $30.00 to $32.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 44.14% from the company’s current price.

Several other research analysts also recently weighed in on SRAD. Needham & Company LLC reissued a “buy” rating and issued a $27.00 target price on shares of Sportradar Group in a research note on Wednesday. Benchmark upped their price objective on shares of Sportradar Group from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, March 20th. Morgan Stanley lifted their target price on shares of Sportradar Group from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Citigroup increased their price target on Sportradar Group from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, March 20th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $19.00 target price on shares of Sportradar Group in a research note on Monday, January 27th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sportradar Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

Sportradar Group Trading Up 2.2 %

Shares of Sportradar Group stock opened at $22.20 on Thursday. The company has a 50-day moving average of $21.40 and a two-hundred day moving average of $17.54. The stock has a market cap of $24.70 billion, a PE ratio of 111.01, a price-to-earnings-growth ratio of 1.53 and a beta of 2.19. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.04. Sportradar Group has a 12-month low of $9.17 and a 12-month high of $23.60.

Sportradar Group (NASDAQ:SRAD) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.04). The firm had revenue of $307.00 million for the quarter, compared to analyst estimates of $294.60 million. Sportradar Group had a return on equity of 6.69% and a net margin of 5.61%. On average, research analysts anticipate that Sportradar Group will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Sportradar Group

Hedge funds have recently modified their holdings of the stock. Silvercrest Asset Management Group LLC grew its stake in shares of Sportradar Group by 1.6% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 43,530 shares of the company’s stock valued at $755,000 after acquiring an additional 691 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in Sportradar Group by 85.4% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,762 shares of the company’s stock worth $48,000 after purchasing an additional 1,272 shares in the last quarter. LPL Financial LLC grew its position in shares of Sportradar Group by 3.7% in the 4th quarter. LPL Financial LLC now owns 35,663 shares of the company’s stock worth $618,000 after acquiring an additional 1,287 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of Sportradar Group by 5.8% in the 4th quarter. XTX Topco Ltd now owns 25,591 shares of the company’s stock valued at $444,000 after acquiring an additional 1,414 shares during the last quarter. Finally, National Bank of Canada FI raised its position in shares of Sportradar Group by 1,366.4% during the 4th quarter. National Bank of Canada FI now owns 1,569 shares of the company’s stock valued at $27,000 after acquiring an additional 1,462 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.