BofA Securities Downgrades Sportradar Group AG (SRAD) to Underperform

BofA Securities analyst Shaun Kelley downgraded Sportradar Group AG (NASDAQ: SRAD) from Neutral to Underperform with a price target of $8.00 (from $14.00).

The analyst commented, "We are downgrading Sportradar (ticker: SRAD) to Underperform from Neutral and Membership Collective Group (ticker: MCG) to Underperform from Buy, primarily due to 1) International / European exposures and 2) operating/inflationary headwinds that may pressure 2023 estimates. While we still admire key pieces of their business models (SRAD’s sticky B2B contracts and MCG’s high-growth membership fees), low visibility and a myriad of macroeconomic headwinds create risks, while both names still screen toward the higher end of valuations across our coverage universe"

For an analyst ratings summary and ratings history on Sportradar Group AG click here. For more ratings news on Sportradar Group AG click here.

Shares of Sportradar Group AG closed at $8.76 yesterday.

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