Sportradar Group (NASDAQ:SRAD) Hits New 52-Week High on Analyst Upgrade

Sportradar Group AG (NASDAQ:SRAD)’s share price reached a new 52-week high on Thursday after Citigroup raised their price target on the stock from $25.00 to $27.00. Citigroup 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 traded. The stock had previously closed at $22.80.

A number of other equities analysts also recently commented on SRAD. JPMorgan Chase & Co. upped their target price on shares of Sportradar Group from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday. Needham & Company LLC increased their price objective on shares of Sportradar Group from $18.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday. Canaccord Genuity Group increased their price objective on shares of Sportradar Group from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday. JMP Securities restated a “market outperform” rating and issued a $19.00 target price on shares of Sportradar Group in a research note on Monday, January 27th. Finally, Guggenheim started coverage on shares of 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 equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI raised its holdings in shares of Sportradar Group by 1,366.4% in the fourth quarter. National Bank of Canada FI now owns 1,569 shares of the company’s stock worth $27,000 after buying an additional 1,462 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Sportradar Group during the fourth quarter worth $28,000. US Bancorp DE purchased a new position in shares of Sportradar Group during the fourth quarter worth $39,000. Loomis Sayles & Co. L P purchased a new position in shares of Sportradar Group during the fourth quarter worth $43,000. Finally, R Squared Ltd purchased a new position in shares of Sportradar Group during the fourth quarter worth $44,000.

Sportradar Group Trading Up 0.1 %

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 company’s fifty day moving average is $21.01 and its 200-day moving average is $16.92. The stock has a market cap of $24.81 billion, a PE ratio of 111.61, a PEG ratio of 1.53 and a beta of 2.19.

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.