Analyst Mike Hickey of Benchmark Co. reiterated a Buy rating on Sportradar Group AG (SRAD – Research Report), with a price target of $24.00.
Mike Hickey has given his Buy rating due to a combination of factors that highlight Sportradar Group AG’s strong growth potential. The company is on track for significant revenue growth and margin expansion in the upcoming quarters, driven by strategic investments in technology and innovative sports content solutions. This positions Sportradar well for sustained growth into 2025 and beyond.
Additionally, Sportradar’s strong foundation in long-term sports rights deals and its strategic partnerships with major sports leagues provide a robust platform for further expansion. The company’s focus on emerging markets, particularly in regions like Brazil and Asia, coupled with its success in the U.S. market, underscores its potential for revenue growth. Furthermore, Sportradar’s ability to expand margins and generate strong cash flow supports its valuation and enhances shareholder value, justifying the raised price target to $24.
In another report released on February 26, Guggenheim also initiated coverage with a Buy rating on the stock with a $27.00 price target.