Needham & Company LLC Reiterates Buy Rating for Sportradar Group (NASDAQ:SRAD)

Sportradar Group (NASDAQ:SRAD)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They presently have a $16.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 0.88% from the company’s current price.

SRAD has been the subject of a number of other research reports. Canaccord Genuity Group reiterated a “buy” rating and set a $16.00 target price on shares of Sportradar Group in a research note on Wednesday, August 14th. JMP Securities upgraded Sportradar Group from a “market perform” rating to an “outperform” rating and set a $16.00 price objective on the stock in a report on Wednesday, September 4th. Morgan Stanley boosted their target price on Sportradar Group from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upgraded shares of Sportradar Group from a “neutral” rating to an “overweight” rating and increased their price target for the company from $12.00 to $15.00 in a research note on Monday, October 21st. Finally, Benchmark boosted their price objective on shares of Sportradar Group from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $15.63.

Sportradar Group Stock Up 10.8 %

Shares of Sportradar Group stock opened at $15.86 on Thursday. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.05. Sportradar Group has a 52-week low of $9.17 and a 52-week high of $15.93. The company has a market capitalization of $17.63 billion, a P/E ratio of 176.24, a P/E/G ratio of 15.93 and a beta of 2.05. The company has a 50 day moving average of $12.29 and a 200 day moving average of $11.26.

Hedge Funds Weigh In On Sportradar Group

A number of hedge funds have recently modified their holdings of the business. Millennium Management LLC boosted its stake in Sportradar Group by 133.7% during the 2nd quarter. Millennium Management LLC now owns 1,636,129 shares of the company’s stock worth $18,292,000 after purchasing an additional 935,909 shares during the period. Divisadero Street Capital Management LP purchased a new position in shares of Sportradar Group during the second quarter worth about $8,392,000. AM Investment Strategies LLC grew its holdings in shares of Sportradar Group by 31.1% during the second quarter. AM Investment Strategies LLC now owns 465,540 shares of the company’s stock worth $5,205,000 after buying an additional 110,520 shares during the last quarter. Marshall Wace LLP increased its position in Sportradar Group by 152.8% in the 2nd quarter. Marshall Wace LLP now owns 391,806 shares of the company’s stock valued at $4,380,000 after acquiring an additional 236,831 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Sportradar Group by 65.3% during the 2nd quarter. Renaissance Technologies LLC now owns 343,700 shares of the company’s stock valued at $3,843,000 after acquiring an additional 135,800 shares during the last quarter.

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.