The Goldman Sachs Group Cuts Sportradar Group (NASDAQ:SRAD) Price Target to $24.00

Sportradar Group (NASDAQ:SRAD) had its price target decreased by The Goldman Sachs Group from $35.00 to $24.00 in a report released on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

SRAD has been the topic of several other reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sportradar Group in a report on Monday, December 29th. Needham & Company LLC cut their target price on shares of Sportradar Group from $34.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday. Truist Financial set a $32.00 price target on shares of Sportradar Group in a research report on Tuesday. Guggenheim reaffirmed a “buy” rating on shares of Sportradar Group in a research note on Tuesday. Finally, BTIG Research lowered their price objective on Sportradar Group from $32.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.16.

Sportradar Group Trading Down 3.6%

Shares of SRAD stock opened at $18.55 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.17 and a quick ratio of 1.36. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 56.21 and a beta of 2.00. The stock has a 50 day simple moving average of $19.04 and a 200-day simple moving average of $23.65. Sportradar Group has a 1-year low of $15.73 and a 1-year high of $32.22.

Sportradar Group (NASDAQ:SRAD) last announced its earnings results on Tuesday, March 3rd. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). The business had revenue of $432.81 million for the quarter, compared to analysts’ expectations of $369.59 million. Sportradar Group had a net margin of 7.73% and a return on equity of 10.32%. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, equities research analysts expect that Sportradar Group will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Sportradar Group

Large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Sportradar Group in the first quarter valued at about $573,000. Goldman Sachs Group Inc. boosted its position in Sportradar Group by 175.4% during the first quarter. Goldman Sachs Group Inc. now owns 610,384 shares of the company’s stock worth $13,197,000 after acquiring an additional 388,769 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Sportradar Group by 52.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 104,596 shares of the company’s stock valued at $2,937,000 after acquiring an additional 36,052 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Sportradar Group in the 2nd quarter valued at about $377,000. Finally, Assetmark Inc. raised its holdings in Sportradar Group by 2,163.3% in the 2nd quarter. Assetmark Inc. now owns 4,753 shares of the company’s stock valued at $133,000 after acquiring an additional 4,543 shares during 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.