Benchmark analyst Mike Hickey reiterated a Buy rating and $16.00 price target on Sportradar Group AG (NASDAQ: SRAD).

The analyst commented, "We are reducing our 2Q revenue estimate to €376.0M from €385.5M, below consensus of €383.8M, reflecting slower U.S. OSB revenue growth, customer-friendly sports outcomes, and continued FX pressure. While U.S. betting volume appears to have been healthy, we believe weaker sportsbook hold likely limited flow-through in Data & Odds revenue, while FX remains a headwind to reported growth. We are also reducing our 2Q AEBITDA estimate to €74.0M from €74.9M, below consensus of €79.5M. The smaller AEBITDA revision reflects that our prior estimate was already meaningfully below the Street, limiting the need for a larger downward adjustment. Our revised estimates imply a 2Q AEBITDA margin of 19.7%, below consensus at approximately 20.7%."

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Shares of Sportradar Group AG closed at $16.16 yesterday.