Here’s What Analysts Think About Sportradar Group AG (SRAD)

Sportradar Group AG (NASDAQ:SRAD) is one of the best strong buy growth stocks to buy according to hedge funds. Wells Fargo cut the price target on Sportradar Group AG (NASDAQ:SRAD) to $26 from $30 on January 15 and maintained an Overweight rating on the stock. The firm told investors that it is slightly tweaking estimates on the company as it takes a more conservative approach to forward-year variable contract upside and IMG benefit.

Sportradar Group AG (NASDAQ:SRAD) also received a rating update from Truist Financial on January 13, which reiterated a Buy rating on the stock and set a price target of $20.35. In another development, Citizens cut the price target on Sportradar Group AG (NASDAQ:SRAD) to $34 from $36 on January 5 and maintained an Outperform rating on the shares.

The firm told investors that the past two years have highlighted the ongoing volatility in the sector, brought about by competition, regulation, and game outcomes. Despite that, the current valuations appear overly punitive, according to Citizens. It added that with average multiples depressed compared to historical averages, companies meeting or exceeding quarterly estimates with cash flow improvements are likely to drive upside.

Sportradar Group AG (NASDAQ:SRAD) provides sports betting and entertainment products and services, with its products including Betting Technology & Solutions and Sports Content, Technology & Services.

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Disclosure: None. This article is originally published at Insider Monkey.

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