Sportradar Group (NASDAQ:SRAD) Shares Gap Up – Still a Buy?

Sportradar Group AG (NASDAQ:SRAD) gapped up prior to trading on Tuesday. The stock had previously closed at $12.87, but opened at $14.74. Sportradar Group shares last traded at $14.6160, with a volume of 724,327 shares changing hands.

Wall Street Analysts Forecast Growth

SRAD has been the subject of a number of recent analyst reports. UBS Group cut Sportradar Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $30.00 to $16.00 in a research note on Wednesday, August 5th. Morgan Stanley cut their target price on shares of Sportradar Group from $15.00 to $13.50 and set an “equal weight” rating on the stock in a report on Monday, October 19th. Needham & Company LLC lowered their target price 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. Stifel Nicolaus dropped their price target on Sportradar Group from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, October 26th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Sportradar Group in a research report on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.03.

Sportradar Group Trading Up 15.5%

The company has a market cap of $4.45 billion, a P/E ratio of 247.97 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. The business has a 50 day moving average price of $12.49 and a 200-day moving average price of $14.94.

Sportradar Group (NASDAQ:SRAD) last released its earnings results on Tuesday, November 3rd. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). Sportradar Group had a net margin of 1.23% and a return on equity of 1.89%. The firm had revenue of $410.62 million during the quarter, compared to the consensus estimate of $405.74 million. During the same period in the prior year, the business posted $0.07 earnings per share. Sportradar Group’s quarterly revenue was up 24.1% compared to the same quarter last year. Analysts forecast that Sportradar Group AG will post 0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Spruce House Investment Management LLC bought a new stake in shares of Sportradar Group in the 1st quarter valued at about $46,035,000. The Manufacturers Life Insurance Company grew its holdings in Sportradar Group by 963.6% during the first quarter. The Manufacturers Life Insurance Company now owns 2,463,421 shares of the company’s stock worth $41,238,000 after purchasing an additional 2,231,810 shares during the period. Assenagon Asset Management S.A. bought a new position in Sportradar Group during the second quarter worth about $32,811,000. Sellaronda Global Management LP bought a new position in Sportradar Group during the first quarter worth about $12,136,000. Finally, Principal Financial Group Inc. grew its holdings in Sportradar Group by 34.8% during the first quarter. Principal Financial Group Inc. now owns 1,826,209 shares of the company’s stock worth $30,571,000 after purchasing an additional 471,309 shares during the period.

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.