Sportradar Group (NASDAQ:SRAD) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Sportradar Group (NASDAQ:SRAD) had its price objective lifted by investment analysts at Needham & Company LLC from $18.00 to $27.00 in a research note issued on Thursday. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 18.42% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $19.00 price target on shares of Sportradar Group in a report on Monday, January 27th. Jefferies Financial Group increased their price objective on Sportradar Group from $17.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Citigroup increased their price objective on Sportradar Group from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Canaccord Genuity Group increased their price target on Sportradar Group from $20.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, Guggenheim assumed coverage on Sportradar Group in a report on Wednesday, February 26th. They issued a “buy” rating and a $27.00 price objective on the stock. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.89.

Sportradar Group Stock Performance

Shares of SRAD opened at $22.80 on Thursday. The stock has a 50 day moving average price of $20.87 and a 200 day moving average price of $16.80. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $25.34 billion, a price-to-earnings ratio of 114.01, a price-to-earnings-growth ratio of 1.53 and a beta of 2.19. Sportradar Group has a 52-week low of $9.17 and a 52-week high of $22.94.

Institutional Investors Weigh In On Sportradar Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in shares of Sportradar Group by 120.8% in the third quarter. JPMorgan Chase & Co. now owns 52,784 shares of the company’s stock worth $639,000 after purchasing an additional 28,878 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Sportradar Group in the third quarter valued at approximately $479,000. Cornerstone Investment Partners LLC bought a new stake in shares of Sportradar Group in the fourth quarter valued at approximately $199,000. Moody National Bank Trust Division boosted its position in shares of Sportradar Group by 80.6% in the fourth quarter. Moody National Bank Trust Division now owns 136,926 shares of the company’s stock valued at $2,374,000 after acquiring an additional 61,105 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Sportradar Group in the fourth quarter valued at $406,000.

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.