Sportradar Group AG (SRAD) PT Raised to $32 at Goldman Sachs

Goldman Sachs analyst Ben Miller raised the price target on Sportradar Group AG (NASDAQ: SRAD) to $32.00 (from $31.00) while maintaining a Neutral rating.

The analyst comments "In its Q2'25 earnings report, SRAD highlighted a few themes: 1) Q1 Revenue was inline w/ GSe & Street (FactSet), but Adj. EBITDA came in better than expected with mgmt. pointing to FY25 margins to expand on the back of leverage on all expense items (incl. sports rights); 2) The deceleration in RoW revenue was related to comp dynamics and quarter to quarter volatility around media campaigns by sportsbooks showing up in Marketing & Media Services; 3) Continued making progress on driving take rate/monetization through expanded partnerships & product adoption - incl. highlighting a number of examples where Bundesliga partnership has been strengthened through product adoption, expanded micro markets sports coverage, MTS product adoption strength, etc.; & 4) Positive commentary around 4Sight product with plans to launch enhanced version in 2H25 (LottoMattica’s GoldBet brand saw 30% uplift in turnover during covered events, expanding tennis coverage w/ 1,750 ATP matches and ~14k UTR matches by year-end, etc.). We maintain our Neutral rating as we continue to see a more balanced risk/reward skew at current levels over the next 12-months, but increase our PT to $32 (from $31) as we adjust our forward estimates for this earnings report and management's updated forward commentary."

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