Canaccord Genuity Group Forecasts Strong Price Appreciation for Sportradar Group (NASDAQ:SRAD) Stock

Sportradar Group (NASDAQ:SRAD) had its price objective boosted by stock analysts at Canaccord Genuity Group from $20.00 to $28.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 26.01% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Citigroup increased their target price on Sportradar Group from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Benchmark increased their price objective on Sportradar Group from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 8th. JMP Securities reissued a “market outperform” rating and set a $19.00 price objective on shares of Sportradar Group in a research note on Monday, January 27th. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Sportradar Group in a research note on Thursday, November 7th. Finally, Jefferies Financial Group raised their price target on Sportradar Group from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Sportradar Group presently has an average rating of “Moderate Buy” and an average target price of $18.75.

Sportradar Group Stock Up 0.2 %

Shares of NASDAQ SRAD opened at $22.22 on Tuesday. 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’s 50-day moving average is $19.25 and its two-hundred day moving average is $15.33. Sportradar Group has a 12-month low of $9.17 and a 12-month high of $22.50. The company has a market capitalization of $24.70 billion, a PE ratio of 111.11, a price-to-earnings-growth ratio of 1.49 and a beta of 2.21.

Institutional Investors Weigh In On Sportradar Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Unisphere Establishment purchased a new stake in shares of Sportradar Group during the 4th quarter worth about $51,596,000. Portolan Capital Management LLC acquired a new position in Sportradar Group during the third quarter valued at approximately $12,061,000. Granahan Investment Management LLC grew its stake in Sportradar Group by 86.2% during the fourth quarter. Granahan Investment Management LLC now owns 2,008,977 shares of the company’s stock worth $34,836,000 after buying an additional 930,310 shares during the period. Sellaronda Global Management LP acquired a new stake in shares of Sportradar Group in the fourth quarter worth $14,739,000. Finally, Penn Capital Management Company LLC purchased a new position in shares of Sportradar Group in the 4th quarter valued at $14,029,000.

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.