Morgan Stanley Lowers Sportradar Group (NASDAQ:SRAD) Price Target to $24.00

Sportradar Group (NASDAQ:SRAD) had its target price dropped by equities researchers at Morgan Stanley from $26.00 to $24.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 33.33% from the stock’s previous close.

SRAD has been the topic of several other reports. Benchmark reaffirmed a “buy” rating on shares of Sportradar Group in a research report on Wednesday, January 21st. UBS Group decreased their target price on Sportradar Group from $39.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, December 9th. The Goldman Sachs Group lowered their target price on Sportradar Group from $35.00 to $24.00 and set a “neutral” rating for the company in a research note on Wednesday, March 4th. Guggenheim restated a “buy” rating on shares of Sportradar Group in a research report on Tuesday, March 3rd. Finally, Wells Fargo & Company reduced their price target on Sportradar Group from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Sportradar Group has an average rating of “Moderate Buy” and a consensus price target of $30.22.

Sportradar Group Stock Down 2.8%

Shares of NASDAQ SRAD opened at $18.00 on Wednesday. The firm has a fifty day simple moving average of $18.15 and a two-hundred day simple moving average of $22.45. Sportradar Group has a 12 month low of $15.73 and a 12 month high of $32.22. The company has a current ratio of 1.17, a quick ratio of 1.36 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $5.39 billion, a PE ratio of 54.55 and a beta of 2.00.

Sportradar Group (NASDAQ:SRAD) last announced its 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 net margin of 7.73% and a return on equity of 10.32%. The company had revenue of $432.81 million for the quarter, compared to the consensus estimate of $369.59 million. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. Equities analysts expect that Sportradar Group will post 0.15 earnings per share for the current year.

Hedge Funds Weigh In On Sportradar Group

Several large investors have recently made changes to their positions in SRAD. Jericho Capital Asset Management L.P. purchased a new stake in shares of Sportradar Group in the 4th quarter worth approximately $75,117,000. Invesco Ltd. increased its position in Sportradar Group by 536.7% during the 2nd quarter. Invesco Ltd. now owns 2,972,813 shares of the company’s stock valued at $83,477,000 after buying an additional 2,505,890 shares in the last quarter. Stephens Investment Management Group LLC purchased a new position in Sportradar Group during the fourth quarter valued at $52,643,000. T. Rowe Price Investment Management Inc. boosted its holdings in Sportradar Group by 19.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,080,674 shares of the company’s stock worth $287,158,000 after acquiring an additional 1,929,037 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Sportradar Group by 39.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,104,947 shares of the company’s stock worth $164,223,000 after acquiring an additional 1,721,495 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.