Citi analyst Jason Bazinet has maintained their bullish stance on SRAD stock, giving a Buy rating yesterday.
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Jason Bazinet has given his Buy rating due to a combination of factors, primarily focused on Sportradar Group AG’s strong competitive position in the sports betting industry and the promising growth prospects of the global sports betting market. The analyst has increased the target price from $20 to $25, which reflects the updated valuation for 2026 based on the latest foreign exchange forecasts and a multiple of 27 times the 2026 free cash flow.
Additionally, Bazinet is optimistic about Sportradar’s upcoming Investor Day, which is anticipated to provide deeper insights into the company’s business model and potential new offerings. This event is expected to highlight the company’s ability to potentially outpace growth in the gross gaming revenue. Furthermore, with Sportradar’s solid free cash flow and streamlined balance sheet, there is an expectation for discussions around long-term financial objectives and potential capital returns.
In another report released yesterday, JMP Securities also maintained a Buy rating on the stock with a $22.00 price target.
SRAD’s price has also changed dramatically for the past six months – from $11.010 to $21.420, which is a 94.55% increase.