Sportradar Group (NASDAQ:SRAD) Stock Price Down 8.6% Following Weak Earnings

Shares of Sportradar Group AG (NASDAQ:SRAD) were down 8.6% during trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $23.89 and last traded at $23.3740. Approximately 1,167,884 shares changed hands during trading, a decline of 35% from the average daily volume of 1,800,344 shares. The stock had previously closed at $25.58.

The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The business had revenue of $342.71 million for the quarter, compared to the consensus estimate of $295.04 million. Sportradar Group had a net margin of 9.35% and a return on equity of 11.74%. The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 EPS. Sportradar Group has set its FY 2025 guidance at EPS.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SRAD. Truist Financial lifted their price target on shares of Sportradar Group from $33.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. The Goldman Sachs Group assumed coverage on Sportradar Group in a research note on Monday, July 21st. They issued a “neutral” rating and a $31.00 price target for the company. Zacks Research downgraded Sportradar Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Arete Research raised Sportradar Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 31st. Finally, JMP Securities lifted their target price on Sportradar Group from $30.00 to $36.00 and gave the company a “market outperform” rating in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.88.

Institutional Investors Weigh In On Sportradar Group

A number of hedge funds have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA purchased a new stake in shares of Sportradar Group in the second quarter worth approximately $123,087,000. Invesco Ltd. grew its position in Sportradar Group by 536.7% in the 2nd quarter. Invesco Ltd. now owns 2,972,813 shares of the company’s stock valued at $83,477,000 after acquiring an additional 2,505,890 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in Sportradar Group in the first quarter worth $48,596,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Sportradar Group by 76.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,765,953 shares of the company’s stock worth $77,668,000 after purchasing an additional 1,196,197 shares during the last quarter. Finally, Soros Fund Management LLC bought a new stake in shares of Sportradar Group during the second quarter worth $28,563,000.

Sportradar Group Price Performance

The stock’s 50 day moving average price is $27.69 and its 200-day moving average price is $27.03. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $6.88 billion, a PE ratio of 63.81 and a beta of 2.01.

Sportradar Group Company Profile

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.