Needham & Company LLC Issues Positive Forecast for Sportradar Group (NASDAQ:SRAD) Stock Price

Sportradar Group (NASDAQ:SRAD) had its price target upped by Needham & Company LLC from $18.00 to $27.00 in a report issued on Thursday. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 18.42% from the stock’s previous close.

Several other research analysts have also recently commented on SRAD. Citigroup increased their target price on shares of Sportradar Group from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Jefferies Financial Group upped their target price on Sportradar Group from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. JMP Securities restated a “market outperform” rating and set a $19.00 price objective on shares of Sportradar Group in a research note on Monday, January 27th. Canaccord Genuity Group raised their target price on Sportradar Group from $20.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, Guggenheim started coverage on Sportradar Group in a report on Wednesday, February 26th. They issued a “buy” rating and a $27.00 target price on the stock. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.89.

Sportradar Group Trading Up 13.5 %

SRAD opened at $22.80 on Thursday. The firm’s fifty day moving average is $20.87 and its two-hundred day moving average is $16.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.53 and a current ratio of 1.53. The firm has a market cap of $25.34 billion, a PE ratio of 114.01, a price-to-earnings-growth ratio of 1.53 and a beta of 2.19. Sportradar Group has a twelve month low of $9.17 and a twelve month high of $22.94.

Institutional Investors Weigh In On Sportradar Group

A number of large investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp bought a new stake in Sportradar Group in the 4th quarter worth $1,236,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Sportradar Group in the 4th quarter worth about $3,100,000. Voloridge Investment Management LLC purchased a new stake in shares of Sportradar Group in the 4th quarter worth about $6,801,000. Two Sigma Advisers LP lifted its position in shares of Sportradar Group by 659.5% in the 4th quarter. Two Sigma Advisers LP now owns 168,600 shares of the company’s stock worth $2,924,000 after purchasing an additional 146,400 shares during the period. Finally, Two Sigma Investments LP lifted its position in shares of Sportradar Group by 134.9% in the 4th quarter. Two Sigma Investments LP now owns 534,270 shares of the company’s stock worth $9,264,000 after purchasing an additional 306,788 shares during the period.

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.