Sportradar Group AG (SRAD – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Bernie McTernan from Needham reiterated a Buy rating on the stock and has a $27.00 price target.
Bernie McTernan has given his Buy rating due to a combination of factors including Sportradar Group AG’s optimistic future revenue and adjusted EBITDA targets, which surpass consensus estimates by 8% and 13%, respectively. The company anticipates a 15% compound annual growth rate in revenue, exceeding the expected 12%, driven by high single-digit market growth and mid to high single-digit growth from increased wallet share.
Additionally, Sportradar is introducing innovative products, such as AI-based offerings, which are expected to capture a larger portion of the market. The company is also seeing higher penetration in in-play betting, particularly in the US. Management’s strategy to leverage operational expenses, including sports rights, is projected to expand margins by approximately 700 basis points by 2027, providing over €1 billion of additional capital for deployment.
In another report released today, JMP Securities also maintained a Buy rating on the stock with a $25.00 price target.