Sportradar Group AG (SRAD) PT Raised to $26 at JPMorgan

JPMorgan analyst Samuel Nielsen raised the price target on Sportradar Group AG (NASDAQ: SRAD) to $26.00 (from $20.00) while maintaining a Overweight rating.

The analyst comments "SRAD reported strong 4Q24 revenue and EBITDA upside and provided initial 2025 guidance (implying 15% and 26% revenue and EBITDA growth) that reflects the strong top-line growth and margin expansion characteristics that led us to upgrade shares to Overweight back in late October (see our upgrade note here). We are encouraged with management’s execution thus far on leveraging its sports data rights to innovate on product and generate pricing power that is garnering a higher share of wallet (especially around live betting), and see a favorable setup for margin expansion going forward as we come out of the most recent rights renewal cycle and into a multi-year period of (what should be) continued top-line momentum and lower operating expense growth. We look forward to SRAD’s upcoming analyst day on April 1st, where we expect management to provide an update on its business strategy, growth drivers, and longer-term financial outlook."

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