Citizens Jmp Cuts Sportradar Group (NASDAQ:SRAD) Price Target to $31.00

Sportradar Group (NASDAQ:SRAD) had its target price reduced by Citizens Jmp from $34.00 to $31.00 in a research note issued to investors on Wednesday,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

Several other brokerages have also recently weighed in on SRAD. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sportradar Group in a report on Monday, December 29th. Wells Fargo & Company lowered their price target on shares of Sportradar Group from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Wednesday. Needham & Company LLC dropped their price objective on shares of Sportradar Group from $34.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday. BTIG Research reduced their price objective on shares of Sportradar Group from $32.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Stifel Nicolaus started coverage on shares of Sportradar Group in a research report on Thursday, January 22nd. They set a “buy” rating and a $28.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.16.

Sportradar Group Price Performance

Shares of NASDAQ SRAD opened at $18.55 on Wednesday. The stock’s 50-day moving average is $19.04 and its two-hundred day moving average is $23.65. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.17 and a quick ratio of 1.36. Sportradar Group has a 1-year low of $15.73 and a 1-year high of $32.22. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 56.21 and a beta of 2.00.

Sportradar Group (NASDAQ:SRAD) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.09). Sportradar Group had a net margin of 7.73% and a return on equity of 10.32%. The company had revenue of $432.81 million during the quarter, compared to analysts’ expectations of $369.59 million. The company’s revenue was up 20.2% on a year-over-year basis. Analysts forecast that Sportradar Group will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Sportradar Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA purchased a new position in Sportradar Group in the second quarter valued at approximately $123,087,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Sportradar Group during the 4th quarter worth approximately $75,117,000. Invesco Ltd. lifted its position in shares of Sportradar Group by 536.7% during the 2nd quarter. Invesco Ltd. now owns 2,972,813 shares of the company’s stock worth $83,477,000 after buying an additional 2,505,890 shares during the last quarter. Stephens Investment Management Group LLC acquired a new position in shares of Sportradar Group in the 4th quarter valued at $52,643,000. Finally, T. Rowe Price Investment Management Inc. grew its position in shares of Sportradar Group by 19.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,080,674 shares of the company’s stock valued at $287,158,000 after buying an additional 1,929,037 shares during the last quarter.

Sportradar Group Company Profile

Sportradar Group is a global leader in digital sports data and content, delivering real-time statistics, analytics and sports betting solutions to clients across the gaming, media and sports federation sectors. The company aggregates and processes live data from more than 800,000 sporting events each year, providing feeds for pre-match and in-play odds, visualization tools and managed trading services. Its products also include integrity services, which monitor betting markets for irregularities and help sports organizations safeguard competition outcomes.

Founded in 2001 and headquartered in St.