Sportradar Group (NASDAQ:SRAD) Reaches New 52-Week High After Analyst Upgrade

Sportradar Group AG (NASDAQ:SRAD)’s stock price hit a new 52-week high during trading on Thursday after Needham & Company LLC raised their price target on the stock from $18.00 to $27.00. Needham & Company LLC currently has a buy rating on the stock. Sportradar Group traded as high as $22.98 and last traded at $22.06, with a volume of 10229 shares trading hands. The stock had previously closed at $22.80.

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

Institutional Investors Weigh In On Sportradar Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. National Bank of Canada FI boosted its holdings in Sportradar Group by 1,366.4% in the 4th quarter. National Bank of Canada FI now owns 1,569 shares of the company’s stock valued at $27,000 after purchasing an additional 1,462 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Sportradar Group in the fourth quarter valued at about $28,000. US Bancorp DE acquired a new stake in Sportradar Group during the fourth quarter worth about $39,000. Loomis Sayles & Co. L P bought a new position in Sportradar Group during the fourth quarter valued at about $43,000. Finally, R Squared Ltd acquired a new position in Sportradar Group in the 4th quarter valued at approximately $44,000.

Sportradar Group Price Performance

The company has a market cap of $24.52 billion, a P/E ratio of 112.13, a P/E/G ratio of 1.53 and a beta of 2.19. The stock has a 50-day simple moving average of $20.87 and a 200 day simple moving average of $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.

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.