Sportradar Group (NASDAQ:SRAD) Trading Down 8.6% on Disappointing Earnings

Sportradar Group AG (NASDAQ:SRAD)’s stock price dropped 8.6% during trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $23.89 and last traded at $23.3740. Approximately 1,167,884 shares traded hands during trading, a decline of 35% from the average daily volume of 1,800,344 shares. The stock had previously closed at $25.58.

The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). The firm had revenue of $342.71 million during the quarter, compared to analyst estimates of $295.04 million. Sportradar Group had a net margin of 9.35% and a return on equity of 11.74%. Sportradar Group’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 EPS. Sportradar Group has set its FY 2025 guidance at EPS.

Analyst Ratings Changes

SRAD has been the topic of several recent analyst reports. Arete Research raised Sportradar Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 31st. Roth Capital initiated coverage on Sportradar Group in a report on Friday, September 12th. They set a “buy” rating and a $40.00 price target on the stock. Weiss Ratings upgraded shares of Sportradar Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th. The Goldman Sachs Group started coverage on shares of Sportradar Group in a research report on Monday, July 21st. They issued a “neutral” rating and a $31.00 target price for the company. Finally, UBS Group raised their target price on shares of Sportradar Group from $29.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.88.

Hedge Funds Weigh In On Sportradar Group

Hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its stake in Sportradar Group by 129.6% during the first quarter. Envestnet Asset Management Inc. now owns 68,544 shares of the company’s stock valued at $1,482,000 after purchasing an additional 38,686 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Sportradar Group by 34.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,146 shares of the company’s stock worth $46,000 after acquiring an additional 551 shares during the last quarter. Kestra Private Wealth Services LLC acquired a new stake in shares of Sportradar Group during the first quarter worth $260,000. Legato Capital Management LLC purchased a new stake in shares of Sportradar Group during the first quarter valued at $876,000. Finally, Navellier & Associates Inc. acquired a new position in shares of Sportradar Group in the 1st quarter valued at $1,377,000.

Sportradar Group Price Performance

The stock has a 50 day moving average of $27.69 and a two-hundred day moving average of $27.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.31 and a current ratio of 1.31. The stock has a market cap of $6.88 billion, a PE ratio of 63.81 and a beta of 2.01.

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.