Sportradar Group AG declines amid market strength
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 31 2024
0mins
Should l Buy SRAD?
Source: 144
Sportradar Group AG's stock price fell by 4.60% and hit a 20-day low during regular trading hours. This decline occurred despite the Nasdaq-100 rising by 0.95% and the S&P 500 gaining 0.64%, indicating a potential sector rotation.
The drop in Sportradar's stock price suggests sector rotation as investors may be shifting their focus away from the stock, even as broader market indices show strength. This movement could reflect changing investor sentiment or a reevaluation of the stock's growth prospects in light of current market conditions.
Investors will be closely monitoring future developments and earnings reports to gauge whether this trend continues or if Sportradar can regain momentum in a favorable market environment.
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Analyst Views on SRAD
Wall Street analysts forecast SRAD stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SRAD is 32.17 USD with a low forecast of 26.00 USD and a high forecast of 37.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
14 Analyst Rating
13 Buy
1 Hold
0 Sell
Strong Buy
Current: 17.050
Low
26.00
Averages
32.17
High
37.00
Current: 17.050
Low
26.00
Averages
32.17
High
37.00
About SRAD
Sportradar Group AG is a Switzeland-based technology platform provider. The Company offers platform which enables engagement in sports, and the number one provider of business-to-business (B2B) solutions to the global sports betting industry. It offers integrated sports data and technology platforms whixh simplify its customers’ operations, drive efficiencies and improve fan experiences. The Company’s software solutions address the sports betting value chain from traffic generation and advertising technology, to the collection, processing and extrapolation of data and odds, to visualization solutions, risk management and platform services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Betfred Expands Partnership with Sportradar for Retail Technology Upgrade
- Partnership Expansion: Betfred has extended its longstanding agreement with Sportradar, which will upgrade the technology platform for Betfred's 1,300 retail outlets nationwide, ensuring a sustainable and engaging betting offering on the UK high street, further solidifying their decade-long partnership.
- Technological Upgrade Benefits: The new retail platform technology enables Betfred to handle intense data loads and scale betting capabilities in real-time, ensuring that bettors can engage and place wagers regardless of an event's popularity, thereby enhancing user experience and market competitiveness.
- Commitment to Continuous Improvement: Under the agreement, Sportradar will oversee ongoing enhancements to the Betfred retail platform to ensure operational excellence and compliance with local regulations, thereby strengthening Betfred's capabilities in compliance and technological innovation.
- Future Development Assurance: Betfred executives stated that this agreement reaffirms their joint commitment to developing new products and features, securing the future growth of their retail business and maintaining a long-term partnership with Sportradar's technology team.
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Wilson Asset Management Exits Sportradar Group AG Completely
- Shareholding Change: Wilson Asset Management completely divested its 322,342 shares in Sportradar Group AG during Q4 2022 for approximately $8.67 million, indicating a potential loss of confidence that could affect market sentiment towards Sportradar.
- Financial Performance: Sportradar reported a 14% year-over-year revenue increase to €292 million in Q3, with adjusted EBITDA rising 29% to €85 million; however, its stock price has declined by 12.2% over the past year, reflecting concerns about future growth.
- Management Outlook: The management raised its 2025 revenue outlook to at least €1.29 billion and authorized a $300 million share repurchase, signaling confidence in future profitability, yet Wilson's exit may indicate caution regarding short-term market fluctuations.
- Portfolio Adjustment: Wilson's remaining top holdings are focused on highly profitable firms like Alphabet and Intuit, suggesting that the exit from Sportradar was a strategic move to optimize its portfolio and reduce exposure to sentiment and regulatory changes in the sports betting sector.
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- Bentley Systems Rating: BMO Capital analyst Daniel Jester initiated coverage on Bentley Systems Inc (NASDAQ:BSY) with an Outperform rating and a price target of $48, indicating optimism about its growth potential as shares currently trade at $38.10.
- Sportradar Rating Change: Stifel analyst Jeffrey Stantial initiated coverage on Sportradar Group AG (NASDAQ:SRAD) with a Buy rating and a price target of $28, with shares currently priced at $18.25, reflecting confidence in its market performance.
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Sportradar Group AG (SRAD) Shares Oversold with RSI at 29.96
- Oversold Signal: Sportradar Group AG (SRAD) shares dropped to $19.97, with an RSI of 29.96, indicating that the recent heavy selling may be nearing exhaustion, thus providing potential buying opportunities for bullish investors.
- RSI Comparison: Compared to the S&P 500 ETF (SPY) with an RSI of 59.5, SRAD's oversold condition may attract investor attention, highlighting a significant divergence in market sentiment.
- Price Fluctuation Range: SRAD's 52-week low is $18.16 and high is $32.22, with the current trading price at $20.00, indicating its relative position within the volatility range, which may influence investor decisions.
- Market Sentiment Analysis: The current RSI level may prompt investors to reassess SRAD's investment value, especially after a significant price decline, potentially attracting buyers looking for rebound opportunities.
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Betfred Expands Partnership with Sportradar for Retail Technology Upgrade
- Partnership Expansion: Betfred has extended its longstanding agreement with Sportradar, which will upgrade the technology platform for Betfred's 1,300 retail outlets nationwide, ensuring a sustainable and engaging betting offering on the UK high street, further solidifying their decade-long partnership.
- Technological Upgrade Benefits: The new retail platform technology enables Betfred to handle intense data loads and scale betting capabilities in real-time, ensuring that bettors can engage and place wagers regardless of an event's popularity, thereby enhancing user experience and market competitiveness.
- Commitment to Continuous Improvement: Under the agreement, Sportradar will oversee ongoing enhancements to the Betfred retail platform to ensure operational excellence and compliance with local regulations, thereby strengthening Betfred's capabilities in compliance and technological innovation.
- Future Development Assurance: Betfred executives stated that this agreement reaffirms their joint commitment to developing new products and features, securing the future growth of their retail business and maintaining a long-term partnership with Sportradar's technology team.
See More
Wilson Asset Management Exits Sportradar Group AG Completely
- Shareholding Change: Wilson Asset Management completely divested its 322,342 shares in Sportradar Group AG during Q4 2022 for approximately $8.67 million, indicating a potential loss of confidence that could affect market sentiment towards Sportradar.
- Financial Performance: Sportradar reported a 14% year-over-year revenue increase to €292 million in Q3, with adjusted EBITDA rising 29% to €85 million; however, its stock price has declined by 12.2% over the past year, reflecting concerns about future growth.
- Management Outlook: The management raised its 2025 revenue outlook to at least €1.29 billion and authorized a $300 million share repurchase, signaling confidence in future profitability, yet Wilson's exit may indicate caution regarding short-term market fluctuations.
- Portfolio Adjustment: Wilson's remaining top holdings are focused on highly profitable firms like Alphabet and Intuit, suggesting that the exit from Sportradar was a strategic move to optimize its portfolio and reduce exposure to sentiment and regulatory changes in the sports betting sector.
See More
Analysts Adjust Ratings on Kratos and Others, Target Price $99
- Kratos Coverage Initiated: Piper Sandler analyst Clarke Jeffries initiated coverage on Kratos Defense & Security Solutions Inc (NASDAQ:KTOS) with a Neutral rating and a price target of $99, reflecting a cautious market outlook given its current share price of $120.59.
- Bentley Systems Rating: BMO Capital analyst Daniel Jester initiated coverage on Bentley Systems Inc (NASDAQ:BSY) with an Outperform rating and a price target of $48, indicating optimism about its growth potential as shares currently trade at $38.10.
- Sportradar Rating Change: Stifel analyst Jeffrey Stantial initiated coverage on Sportradar Group AG (NASDAQ:SRAD) with a Buy rating and a price target of $28, with shares currently priced at $18.25, reflecting confidence in its market performance.
- Palantir Coverage Initiated: Phillip Securities analyst Paul Chew initiated coverage on Palantir Technologies Inc (NASDAQ:PLTR) with a Buy rating and a price target of $208, while shares are currently at $165.33, demonstrating strong confidence in its future growth prospects.
See More
Sportradar Group AG (SRAD) Shares Oversold with RSI at 29.96
- Oversold Signal: Sportradar Group AG (SRAD) shares dropped to $19.97, with an RSI of 29.96, indicating that the recent heavy selling may be nearing exhaustion, thus providing potential buying opportunities for bullish investors.
- RSI Comparison: Compared to the S&P 500 ETF (SPY) with an RSI of 59.5, SRAD's oversold condition may attract investor attention, highlighting a significant divergence in market sentiment.
- Price Fluctuation Range: SRAD's 52-week low is $18.16 and high is $32.22, with the current trading price at $20.00, indicating its relative position within the volatility range, which may influence investor decisions.
- Market Sentiment Analysis: The current RSI level may prompt investors to reassess SRAD's investment value, especially after a significant price decline, potentially attracting buyers looking for rebound opportunities.
See More
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