Canaccord Genuity Group Cuts Sportradar Group (NASDAQ:SRAD) Price Target to $24.00

Sportradar Group (NASDAQ:SRAD) had its price objective lowered by Canaccord Genuity Group from $28.00 to $24.00 in a research report released on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Zacks Research lowered shares of Sportradar Group from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. BTIG Research downgraded shares of Sportradar Group from a “buy” rating to a “neutral” rating in a research note on Tuesday. Benchmark restated a “buy” rating on shares of Sportradar Group in a report on Thursday, July 9th. Stifel Nicolaus cut their price objective on Sportradar Group from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Finally, UBS Group reaffirmed a “buy” rating on shares of Sportradar Group in a research report on Tuesday, June 9th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.31.

Sportradar Group Price Performance

SRAD opened at $12.70 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.06 and a current ratio of 0.98. Sportradar Group has a 52-week low of $11.55 and a 52-week high of $32.22. The stock has a market capitalization of $3.80 billion, a PE ratio of 211.70 and a beta of 1.61. The stock’s 50 day moving average price is $14.80 and its 200-day moving average price is $15.88.

Sportradar Group (NASDAQ:SRAD) last announced its quarterly earnings results on Tuesday, June 30th. The company reported ($0.01) EPS for the quarter. The business had revenue of $431.19 million during the quarter. Sportradar Group had a return on equity of 1.89% and a net margin of 1.23%. On average, equities research analysts predict that Sportradar Group will post 0.3 EPS for the current year.

Institutional Inflows and Outflows

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

Key Headlines Impacting Sportradar Group

Here are the key news stories impacting Sportradar Group this week:

• Neutral Sentiment: Unusually large options activity drew attention to SRAD, indicating elevated investor positioning and potentially higher near-term volatility, but the report does not establish a clear bullish or bearish direction. Sportradar Group Target of Unusually Large Options Trading
• Neutral Sentiment: Wells Fargo reaffirmed its Equal Weight rating and set a $14 price target, reduced from $17. The target remains above the reference price, suggesting some potential upside, but the downgrade reflects a more cautious outlook. Wells Fargo Reaffirms Equal Weight Rating
• Negative Sentiment: Multiple analysts lowered their expectations. Canaccord Genuity cut its outlook for SRAD, while BTIG Research lowered its stock rating. The changes add to concerns about the company’s growth and valuation. Canaccord Genuity Lowers Expectations BTIG Lowers Sportradar Rating
• Negative Sentiment: Citizens JMP reduced its price target to $20, signaling less confidence in the shares even though the revised target remains above the current trading level. Citizens JMP Lowers Price Target
• Negative Sentiment: Truist Financial and Citigroup issued more pessimistic forecasts, reinforcing a broader analyst reset following the company’s latest results. Truist Financial Forecast Citigroup Forecast
• Negative Sentiment: SRAD reached a new 52-week low after an earnings miss. The company reported a quarterly loss per share and modest profitability, heightening concerns about execution and near-term growth. Sportradar Reaches New 52-Week Low After Earnings Miss
• Negative Sentiment: The earnings call highlighted cash generation and growth headwinds, adding to uncertainty about the pace of business expansion despite continued revenue growth. Sportradar Earnings Call Highlights

About Sportradar Group

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.