Wells Fargo & Company Cuts Sportradar Group (NASDAQ:SRAD) Price Target to $24.00

Sportradar Group (NASDAQ:SRAD) had its price objective reduced by Wells Fargo & Company from $26.00 to $24.00 in a report released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities analysts also recently weighed in on SRAD. Benchmark reissued a “buy” rating on shares of Sportradar Group in a research report on Wednesday, January 21st. UBS Group dropped their price objective on shares of Sportradar Group from $39.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, December 9th. BTIG Research cut their price objective on shares of Sportradar Group from $32.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday. Weiss Ratings reissued a “sell (d+)” rating on shares of Sportradar Group in a research note on Monday, December 29th. Finally, Needham & Company LLC lowered their target price on shares of Sportradar Group from $34.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sportradar Group has a consensus rating of “Moderate Buy” and an average price target of $30.16.

Sportradar Group Stock Performance

Sportradar Group stock opened at $18.55 on Wednesday. The company’s 50-day moving average price is $19.04 and its 200-day moving average price is $23.65. The company has a quick ratio of 1.36, a current ratio of 1.17 and a debt-to-equity ratio of 0.05. The company has a market cap of $5.55 billion, a PE ratio of 56.21 and a beta of 2.00. Sportradar Group has a twelve month low of $15.73 and a twelve month high of $32.22.

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

Hedge Funds Weigh In On Sportradar Group

Large investors have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Sportradar Group by 19.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,080,674 shares of the company’s stock valued at $287,158,000 after buying an additional 1,929,037 shares in the last quarter. Greenhouse Funds LLLP lifted its holdings in shares of Sportradar Group by 1.6% during the 2nd quarter. Greenhouse Funds LLLP now owns 7,971,654 shares of the company’s stock valued at $223,844,000 after purchasing an additional 129,276 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Sportradar Group by 39.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,104,947 shares of the company’s stock worth $164,223,000 after purchasing an additional 1,721,495 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Sportradar Group by 14.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,175,498 shares of the company’s stock worth $85,421,000 after purchasing an additional 409,545 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. purchased a new position in Sportradar Group during the 4th quarter worth $75,117,000.

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.