Sportradar price target lowered to $22 from $30 at Benchmark

Benchmark lowered the firm’s price target on Sportradar (SRAD) to $22 from $30 and keeps a Buy rating on the shares. The firm continues to view Sportradar as a structurally advantaged global sports technology platform with scalable data infrastructure, durable operating leverage, emerging prediction market upside, disciplined capital return, and an increasingly strategic iGaming expansion. The firm noted that its lower price target reflects a multiple reset to 15x EV/adjusted EBITDA on its FY26 estimate, adding that despite the lower multiple, it continues to see a high-quality compounder with durable operating leverage and expanding margins.