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Investing.com - Guggenheim raised its price target on Sportradar Group AG (NASDAQ:SRAD) to $35.00 from $27.00 on Wednesday, while maintaining a Buy rating on the sports data provider. The stock has shown remarkable momentum, delivering a 162% return over the past year and trading near its 52-week high of $28.87. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, with current valuation metrics showing a P/E ratio of 113x.
The firm adjusted its quarterly revenue and EBITDA forecasts for Sportradar while keeping its full-year outlook intact, citing worsening foreign exchange headwinds in the second quarter despite strong underlying business performance.
Guggenheim now expects second-quarter revenue of €315 million, down from its previous estimate of €319 million, and EBITDA of €55 million, reduced from €59 million previously, reflecting the impact of the strengthening euro against the dollar.
For the full year, the research firm maintained its revenue projection of €1,279 million, slightly above Sportradar’s guidance of at least €1,273 million, and kept its EBITDA forecast at €283 million compared to the company’s guidance of at least €281 million.
The significant price target increase primarily reflects Guggenheim’s inclusion of the pending IMG ARENA acquisition in its 2026 outlook, which is expected to contribute approximately €155 million in revenue and €40 million in EBITDA after the deal closes in the fourth quarter.
In other recent news, Sportradar Group AG has been the focus of several significant developments. Jefferies has increased its price target for Sportradar to $32, attributing this to the company’s IMG Arena deal and adjusting its revenue and EBITDA projections for 2025 and 2026. Truist Securities initiated coverage with a Buy rating and a $33 price target, citing Sportradar’s strong position in the sports betting industry and its growth prospects, including the pending IMG acquisition. Meanwhile, Sportradar is expanding its presence in Brazil’s newly regulated betting market, where it has opened its first office and secured partnerships with major Brazilian sports organizations. JPMorgan has raised its price target to $30, highlighting Sportradar’s ability to monetize sports data rights and leverage its technology. Macquarie also initiated coverage with an outperform rating and a $32 price target, emphasizing Sportradar’s role in the sports data ecosystem and its contracts with major U.S. sports leagues. These recent developments underscore Sportradar’s strategic moves and growth potential in the global sports betting and data markets.
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