Needham & Company LLC Cuts Sportradar Group (NASDAQ:SRAD) Price Target to $27.00

Sportradar Group (NASDAQ:SRAD) had its target price trimmed by Needham & Company LLC from $34.00 to $27.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Guggenheim reaffirmed a “buy” rating on shares of Sportradar Group in a report on Tuesday. Weiss Ratings reissued a “sell (d+)” rating on shares of Sportradar Group in a research note on Monday, December 29th. Stifel Nicolaus assumed coverage on Sportradar Group in a research note on Thursday, January 22nd. They issued a “buy” rating and a $28.00 price objective for the company. Citizens Jmp reduced their price objective on Sportradar Group from $36.00 to $34.00 and set a “market outperform” rating for the company in a report on Monday, January 5th. Finally, Truist Financial set a $32.00 target price on Sportradar Group in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $30.16.

Sportradar Group Price Performance

Sportradar Group stock opened at $18.55 on Wednesday. The company has a market cap of $5.55 billion, a P/E ratio of 56.21 and a beta of 2.00. Sportradar Group has a one year low of $15.73 and a one year high of $32.22. The business has a fifty day moving average of $19.04 and a two-hundred day moving average of $23.65. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.36 and a current ratio of 1.17.

Sportradar Group (NASDAQ:SRAD) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). Sportradar Group had a return on equity of 10.32% and a net margin of 7.73%.The company had revenue of $432.81 million for the quarter, compared to analyst estimates of $369.59 million. The firm’s revenue was up 20.2% on a year-over-year basis. As a group, analysts predict that Sportradar Group will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC grew its holdings in Sportradar Group by 29.1% during the 4th quarter. Hsbc Holdings PLC now owns 91,798 shares of the company’s stock valued at $2,209,000 after buying an additional 20,672 shares during the last quarter. SHP Wealth Management acquired a new position in shares of Sportradar Group in the fourth quarter worth $86,000. Sit Investment Associates Inc. raised its holdings in shares of Sportradar Group by 55.9% in the fourth quarter. Sit Investment Associates Inc. now owns 144,225 shares of the company’s stock worth $3,428,000 after acquiring an additional 51,700 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Sportradar Group by 24.9% in the fourth quarter. Pacer Advisors Inc. now owns 6,230 shares of the company’s stock valued at $148,000 after acquiring an additional 1,241 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its position in Sportradar Group by 19.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,080,674 shares of the company’s stock worth $287,158,000 after purchasing an additional 1,929,037 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.