These Analysts Revise Price Targets On Sportradar Following Q4 Results

Sportradar Group AG SRAD reported fourth-quarter results.

Sportradar reported fourth-quarter revenue of €206.3 million ($220.7 million), up 35% year-over-year. The company reported an adjusted EBITDA loss of $37.6 million, which was improved on a year-over-year basis.

Sportradar said it sees fiscal 2023 revenue to be in a range of $965.1 million to $984.4 million. Adjusted EBITDA is expected to be between $168 million and $178.7 million.

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Sportradar shares dropped 10.7% to close at $10.50 on Wednesday and lost 2.3% in today’s pre-market trading session.

These analysts made changes to their price targets on Sportradar following the release of results.

• Needham cut the price target on Sportradar from $17 to $15. Needham analyst Bernie McTernan maintained a Buy rating.
• Morgan Stanley cut the price target on Sportradar from $11.5 to $11. Morgan Stanley analyst Stephen Grambling maintained an Equal-Weight rating.
• Jefferies increased the price target on Sportradar from $10 to $11. Jefferies analyst David Katz maintained the stock with a Hold rating.

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