Sportradar Group AG (SRAD) PT Lowered to $35 at UBS

UBS analyst Robin Farley lowered the price target on Sportradar Group AG (NASDAQ: SRAD) to $35.00 (from $39.00) while maintaining a Buy rating.

The analyst commented, "Investors asked about some of SRAD’s tech offerings following GENI’s investor day comment about the potential for Genius IQ, the GENI offering that has iphones in 300 stadiums to capture data to make a digital twin video of games. That product is a combination of two things that SRAD already offers – an AV feed and then SRAD has 4sight that adds data to it, and it provides unique feeds to OSB as well as TV broadcast partners. SRAD also has the ability to sell consumer brand opportunities on its digital streams, another technology for which GENI noted the potential last week. We noted last week that GENI’s Betvision has not increased inplay % for the NFL which was at 30% in both Q3 this year and Q3 last year despite GENI adding Betvision to 100 new sports books. Interestingly, SRAD notes that for its NBA games globally, inplay betting is already at close to 70%, though slightly lower in the US. It sounds like the determining factor for having higher inplay is not whether it’s real video or a digital representation – it is more tied to the maturity of the OSB market."

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