Sportradar Group AG, 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 $34.00 price target.
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Bernie McTernan has given his Buy rating due to a combination of factors including the strategic acquisition of IMG, which has led to an increase in the adjusted EBITDA estimates for 2026 by 12%. This acquisition positions Sportradar Group AG favorably as it trades at a relatively low multiple of 16-17 times the 2026 adjusted EBITDA estimate, indicating potential for growth.
Additionally, McTernan notes the promising potential in prediction markets, despite their current unstructured nature. He highlights that while these markets are currently like the ‘wild west’, there is an opportunity for growth as leagues may eventually bring more structure. The widespread legalization of online sports betting (OSB) across states is anticipated to further enhance Sportradar’s market position, supporting the Buy rating.
McTernan covers the Consumer Cyclical sector, focusing on stocks such as Super Group (SGHC), DraftKings, and Flutter Entertainment PLC. According to TipRanks, McTernan has an average return of 5.8% and a 47.20% success rate on recommended stocks.