Benchmark Reiterates Buy Rating on Sportradar Group AG (SRAD), Lowers Q2 Estimates

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%."

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 $16.16 yesterday.

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