Needham & Company LLC Forecasts Strong Price Appreciation for Sportradar Group (NASDAQ:SRAD) Stock

Sportradar Group (NASDAQ:SRAD) had its price objective lifted by equities research analysts at Needham & Company LLC from $18.00 to $27.00 in a report issued on Thursday, Marketbeat.com reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 20.97% from the company’s current price.

Several other research firms have also weighed in on SRAD. Citigroup lifted their target price on shares of Sportradar Group from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, November 21st. JMP Securities reaffirmed a “market outperform” rating and set a $19.00 target price on shares of Sportradar Group in a report on Monday, January 27th. Canaccord Genuity Group lifted their target price on shares of Sportradar Group from $20.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Jefferies Financial Group lifted their target price on shares of Sportradar Group from $17.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Finally, Guggenheim initiated coverage on shares of Sportradar Group in a report on Wednesday, February 26th. They issued a “buy” rating and a $27.00 price target for the company. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Sportradar Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.67.

Sportradar Group Price Performance

NASDAQ:SRAD opened at $22.32 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.53 and a quick ratio of 1.53. The firm has a market cap of $24.81 billion, a price-to-earnings ratio of 111.61, a price-to-earnings-growth ratio of 1.53 and a beta of 2.19. The company has a 50 day moving average price of $21.01 and a 200-day moving average price of $16.92. Sportradar Group has a 1-year low of $9.17 and a 1-year high of $23.00.

Institutional Investors Weigh In On Sportradar Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Greenhouse Funds LLLP boosted its stake in Sportradar Group by 2.0% during the 4th quarter. Greenhouse Funds LLLP now owns 9,853,973 shares of the company’s stock worth $170,868,000 after purchasing an additional 193,962 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Sportradar Group by 14.9% during the 3rd quarter. Janus Henderson Group PLC now owns 3,582,528 shares of the company’s stock worth $43,384,000 after purchasing an additional 463,441 shares during the last quarter. Unisphere Establishment acquired a new stake in Sportradar Group during the 4th quarter worth $51,596,000. Granahan Investment Management LLC boosted its stake in Sportradar Group by 86.2% during the 4th quarter. Granahan Investment Management LLC now owns 2,008,977 shares of the company’s stock worth $34,836,000 after purchasing an additional 930,310 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Sportradar Group by 47.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,405,428 shares of the company’s stock worth $24,370,000 after purchasing an additional 454,826 shares during the last quarter.

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.