Morgan Stanley Has Lowered Expectations for Sportradar Group (NASDAQ:SRAD) Stock Price

Sportradar Group (NASDAQ:SRAD) had its price target decreased by equities researchers at Morgan Stanley from $15.00 to $13.50 in a report issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 13.54% from the stock’s previous close.

Several other research firms also recently weighed in on SRAD. Guggenheim lowered their price objective on shares of Sportradar Group from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Truist Financial decreased their target price on shares of Sportradar Group from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Canaccord Genuity Group decreased their target price on shares of Sportradar Group from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. UBS Group lowered shares of Sportradar Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $30.00 to $16.00 in a report on Wednesday, August 5th. Finally, Needham & Company LLC cut their price target on Sportradar Group from $23.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.47.

Sportradar Group Stock Down 0.2%

SRAD stock traded down $0.02 during trading on Monday, reaching $11.89. 320,622 shares of the stock were exchanged, compared to its average volume of 2,819,185. The firm’s 50 day moving average is $12.70 and its 200 day moving average is $13.95. The firm has a market cap of $3.56 billion, a P/E ratio of 198.13 and a beta of 1.59. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.06. Sportradar Group has a twelve month low of $11.39 and a twelve month high of $27.85.

Sportradar Group (NASDAQ:SRAD) last issued its earnings results on Tuesday, June 30th. The company reported ($0.01) earnings per share for the quarter. Sportradar Group had a return on equity of 1.89% and a net margin of 1.23%. The firm had revenue of $431.19 million for the quarter. As a group, research analysts forecast that Sportradar Group will post 0.25 EPS for the current year.

Hedge Funds Weigh In On Sportradar Group

Several large investors have recently bought and sold shares of SRAD. Vontobel Holding Ltd. raised its holdings in shares of Sportradar Group by 16.2% in the third quarter. Vontobel Holding Ltd. now owns 31,311 shares of the company’s stock valued at $362,000 after purchasing an additional 4,359 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Sportradar Group during the second quarter valued at about $560,000. Squarepoint Ops LLC boosted its holdings in Sportradar Group by 3.2% during the second quarter. Squarepoint Ops LLC now owns 30,518 shares of the company’s stock worth $457,000 after purchasing an additional 958 shares during the last quarter. Headlands Technologies LLC purchased a new position in Sportradar Group during the second quarter worth about $1,704,000. Finally, Allied Private Wealth LLC purchased a new position in Sportradar Group during the second quarter worth about $61,000.

About Sportradar Group

Sportradar Group AG is a sports technology company that provides data, content and technology solutions to the global sports, media and betting industries. Its services support the collection, analysis and distribution of sports information across a broad range of competitions and sporting events.

The company offers live sports data, statistics, odds services, betting solutions, audiovisual content and digital media products. It also provides tools for sports organizations and media companies, including fan engagement, marketing, sponsorship and data-driven content solutions.