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Sportradar Group AG (SRAD) Soars 5.7%: Is Further Upside Left in the Stock?

Zacks Equity Research
·2 min read

Sportradar Group AG (SRAD) shares ended the last trading session 5.7% higher at $12.23. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.5% loss over the past four weeks.

Sportradar’s rally is buoyed by optimism regarding the company’s strength in business model, expansion of betting solutions and increased fan engagements through same-game parlays and target advertising. Also, investments in terms of computer vision technology and AI-driven trading algorithms bode well.

This company is expected to post quarterly earnings of $0.03 per share in its upcoming report, which represents a year-over-year change of -25%. Revenues are expected to be $230 million, up 22.1% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

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For Sportradar Group AG, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SRAD going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Sportradar Group AG belongs to the Zacks Leisure and Recreation Products industry. Another stock from the same industry, Topgolf Callaway Brands (MODG), closed the last trading session 1% lower at $21.95. Over the past month, MODG has returned 2.5%.

For Topgolf Callaway , the consensus EPS estimate for the upcoming report has changed +1.5% over the past month to $0.15. This represents a change of -58.3% from what the company reported a year ago. Topgolf Callaway currently has a Zacks Rank of #5 (Strong Sell).

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Sportradar Group AG (SRAD) : Free Stock Analysis Report

Topgolf Callaway Brands Corp. (MODG) : Free Stock Analysis Report

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Zacks Investment Research