Jason Bazinet, an analyst from Citi, reiterated the Buy rating on Sportradar Group AG (SRAD – Research Report). The associated price target remains the same with $27.00.
Jason Bazinet has given his Buy rating due to a combination of factors that highlight Sportradar Group AG’s promising growth trajectory. The company recently presented its financial targets for 2027, which surpass current market expectations for revenue, adjusted EBITDA, and free cash flow. These targets suggest potential upside, especially considering that they only slightly account for product expansions and exclude the benefits from the upcoming acquisition of IMG Arena.
Furthermore, Sportradar’s strategic positioning in the sports betting industry is reinforced by its long-term sports rights agreements, providing a stable revenue outlook. The company is poised to capitalize on the expanding sports betting market, projected to grow at a 10% compound annual growth rate through 2029. Additionally, Sportradar’s focus on enhancing its live betting offerings and leveraging its advanced technology and data capabilities further supports its growth potential. These elements, combined with a clear capital allocation strategy, underpin Bazinet’s positive outlook on the company’s future performance.
In another report released today, Needham also reiterated a Buy rating on the stock with a $27.00 price target.