Sportradar Group (NASDAQ:SRAD) Price Target Lowered to $24.00 at Morgan Stanley

Sportradar Group (NASDAQ:SRAD) had its price objective cut by equities researchers at Morgan Stanley from $26.00 to $24.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 28.15% from the company’s previous close.

Several other equities analysts have also recently commented on SRAD. Benchmark reaffirmed a “buy” rating on shares of Sportradar Group in a report on Wednesday, January 21st. BTIG Research lowered their price objective on Sportradar Group from $32.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Truist Financial set a $32.00 target price on Sportradar Group in a research note on Tuesday, March 3rd. UBS Group decreased their price target on shares of Sportradar Group from $39.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, December 9th. Finally, The Goldman Sachs Group lowered their price target on shares of Sportradar Group from $35.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $30.22.

Sportradar Group Stock Performance

SRAD stock traded down $0.57 on Wednesday, reaching $18.73. 647,480 shares of the company were exchanged, compared to its average volume of 2,735,684. The firm has a market capitalization of $5.61 billion, a PE ratio of 56.74 and a beta of 2.00. Sportradar Group has a 12 month low of $15.73 and a 12 month high of $32.22. The stock’s fifty day moving average price is $18.21 and its 200 day moving average price is $22.51. 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 (NASDAQ:SRAD) last posted its quarterly earnings results 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). The company had revenue of $432.81 million during the quarter, compared to analyst estimates of $369.59 million. Sportradar Group had a return on equity of 10.32% and a net margin of 7.73%.The business’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, research analysts anticipate that Sportradar Group will post 0.15 EPS for the current fiscal year.

Institutional Trading of Sportradar Group

A number of large investors have recently bought and sold shares of SRAD. Caitong International Asset Management Co. Ltd raised its stake in Sportradar Group by 93.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,286 shares of the company’s stock worth $31,000 after acquiring an additional 620 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Sportradar Group in the 4th quarter worth about $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Sportradar Group during the 4th quarter worth about $45,000. Tower Research Capital LLC TRC lifted its holdings in Sportradar Group by 10,125.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the company’s stock valued at $46,000 after purchasing an additional 1,620 shares during the last quarter. Finally, CWM LLC boosted its position in Sportradar Group by 316.0% in the fourth quarter. CWM LLC now owns 2,475 shares of the company’s stock valued at $59,000 after buying an additional 1,880 shares in 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.