Analyst Bernie McTernan of Needham maintained a Buy rating on Sportradar Group AG, retaining the price target of $27.00.
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Bernie McTernan has given his Buy rating due to a combination of factors tied to Sportradar’s emerging role in prediction markets and the broader growth opportunity he sees there. After hosting management, he came away confident that these markets can significantly enlarge Sportradar’s addressable opportunity, and he expects that formal agreements with key prediction market participants would help ease investor concerns about how data providers will fit into this ecosystem and could support a higher valuation multiple.
Beyond prediction markets, McTernan also points to several additional drivers underpinning his positive view, including the ongoing share repurchase program, monetization opportunities from major events like the World Cup, and the launch of a new iGaming brand. He further highlights Sportradar’s proprietary foundational model and potential revenue synergies associated with the IMG relationship as strategic assets that can enhance growth and profitability over time, reinforcing his conviction in the stock’s upside potential.
McTernan covers the Consumer Cyclical sector, focusing on stocks such as DraftKings, Rush Street Interactive, and Super Group (SGHC). According to TipRanks, McTernan has an average return of 0.0% and a 40.84% success rate on recommended stocks.