Sportradar extends gains on PT hikes after strong results

Sportradar AG

18/08/2022 13:18

** U.S.-listed shares of Swiss sports data company
Sportradar AG  SRAD.O  rise 8.7% to $14.56 premarket
    ** SRAD closed 11.6% higher on Wednesday after raising 2022
forecast, beating estimates for Q2 results  urn:newsml:reuters.com:*:nGNX9yGcb7
    ** J.P. Morgan raises PT to $15 from $14; says looking
ahead, it continues to expect Sportradar to deliver double-digit
EBITDA growth and margin expansion through the rest of the
decade
    ** Needham says U.S. revenue growth was ~6% ahead of its
expectations, growing 66% YoY in 2Q22 with the ads business a
significant contributor to revenue generation; raises PT to $17
from $15
    ** Up to last close, stock had fallen ~24% YTD

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))