Sportradar Group (NASDAQ:SRAD) Price Target Cut to $22.00 by Analysts at Canaccord Genuity Group

Sportradar Group (NASDAQ:SRAD) had its price target reduced by stock analysts at Canaccord Genuity Group from $24.00 to $22.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group‘s target price points to a potential upside of 84.33% from the company’s current price.

A number of other research analysts have also weighed in on SRAD. Wolfe Research started coverage on Sportradar Group in a research report on Wednesday, September 2nd. They set an “outperform” rating and a $22.00 price objective for the company. UBS Group downgraded Sportradar Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $30.00 to $16.00 in a research report on Wednesday, August 5th. Morgan Stanley dropped their price target on Sportradar Group from $15.00 to $13.50 and set an “equal weight” rating for the company in a research note on Monday. Wells Fargo & Company set a $20.00 price target on Sportradar Group in a report on Tuesday, August 4th. Finally, Zacks Research raised Sportradar Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 9th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.22.

Sportradar Group Price Performance

SRAD stock traded down $0.06 during midday trading on Friday, hitting $11.94. The company’s stock had a trading volume of 261,951 shares, compared to its average volume of 2,782,931. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $12.59 and a two-hundred day moving average of $13.82. Sportradar Group has a 12 month low of $11.39 and a 12 month high of $27.74. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 199.12 and a beta of 1.59.

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

Hedge Funds Weigh In On Sportradar Group

Several hedge funds have recently added to or reduced their stakes in SRAD. Allied Private Wealth LLC purchased a new stake in Sportradar Group in the 2nd quarter worth about $61,000. Rockefeller Capital Management L.P. boosted its position in shares of Sportradar Group by 4,969.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,982 shares of the company’s stock valued at $142,000 after buying an additional 5,864 shares during the period. Byrne Asset Management LLC purchased a new position in shares of Sportradar Group during the second quarter valued at approximately $176,000. Parallel Advisors LLC grew its stake in shares of Sportradar Group by 6.1% during the first quarter. Parallel Advisors LLC now owns 16,388 shares of the company’s stock valued at $274,000 after buying an additional 937 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC grew its stake in shares of Sportradar Group by 29.0% during the first quarter. Counterpoint Mutual Funds LLC now owns 16,814 shares of the company’s stock valued at $281,000 after buying an additional 3,781 shares during the last quarter.

Sportradar Group Company Profile

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.