Sportradar Group (NASDAQ:SRAD) Shares Up 8.5% After Analyst Upgrade

by · The Markets Daily

Shares of Sportradar Group AG (NASDAQ:SRAD – Get Free Report) traded up 8.5% on Friday after Benchmark raised their price target on the stock from $14.00 to $16.00. Benchmark currently has a buy rating on the stock. Sportradar Group traded as high as $15.59 and last traded at $15.52. 1,117,993 shares changed hands during trading, an increase of 169% from the average session volume of 415,624 shares. The stock had previously closed at $14.31.

Several other analysts also recently issued reports on the company. JPMorgan Chase & Co. raised Sportradar Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $12.00 to $15.00 in a report on Monday, October 21st. Jefferies Financial Group upgraded shares of Sportradar Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $12.00 to $16.00 in a research note on Wednesday, August 14th. Canaccord Genuity Group reissued a “buy” rating and issued a $16.00 price target on shares of Sportradar Group in a report on Wednesday, August 14th. Needham & Company LLC reissued a “buy” rating and set a $16.00 price objective on shares of Sportradar Group in a research note on Thursday. Finally, Morgan Stanley lifted their target price on shares of Sportradar Group from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.63.

Check Out Our Latest Analysis on SRAD

Hedge Funds Weigh In On Sportradar Group

Several institutional investors have recently modified their holdings of SRAD. Quarry LP boosted its position in Sportradar Group by 187.4% during the 2nd quarter. Quarry LP now owns 2,690 shares of the company’s stock worth $30,000 after acquiring an additional 1,754 shares during the last quarter. 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 acquired a new position in shares of Sportradar Group during the 1st quarter worth approximately $60,000. Point72 Asset Management L.P. bought a new position in shares of Sportradar Group in the second quarter valued at about $75,000. Finally, GW Henssler & Associates Ltd. bought a new position in shares of Sportradar Group during the third quarter worth approximately $150,000.

Sportradar Group Trading Up 8.2 %

The stock has a market capitalization of $17.21 billion, a price-to-earnings ratio of 172.69, a price-to-earnings-growth ratio of 15.93 and a beta of 2.05. The business has a fifty day simple moving average of $12.21 and a 200 day simple moving average of $11.22. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.54 and a current ratio of 1.54.

About Sportradar Group

(Get Free Report)

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.

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