Sportradar Group (NASDAQ:SRAD) Reaches New 12-Month High on Analyst Upgrade

Sportradar Group AG (NASDAQ:SRAD) 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.

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

Hedge Funds Weigh In On Sportradar Group

Several large investors have recently modified their holdings of SRAD. Aurora Investment Counsel grew its position in shares of Sportradar Group by 0.4% in the 3rd quarter. Aurora Investment Counsel now owns 180,544 shares of the company’s stock worth $2,186,000 after acquiring an additional 706 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Sportradar Group during the third quarter worth $406,000. Quantbot Technologies LP acquired a new position in Sportradar Group in the third quarter worth $139,000. Millrace Asset Group Inc. bought a new position in shares of Sportradar Group in the 3rd quarter worth about $1,278,000. Finally, Walleye Capital LLC acquired a new stake in Sportradar Group during the third quarter worth about $651,000.

Sportradar Group Stock Down 3.2 %

The stock has a market cap of $24.52 billion, a P/E ratio of 112.13, a PEG ratio of 1.53 and a beta of 2.19. The stock’s fifty day simple moving average is $20.87 and its 200-day simple moving average is $16.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.53 and a quick ratio of 1.53.

About Sportradar Group

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.