Truist Securities initiated coverage of Sportradar Group on 1 July with a “Buy” rating and a US$33 per share price target. Shares of SRAD stock were trading at US$28.08 at the time of Barry Jonas’ investor report.
Jonas explained the decision by saying that Sportradar was “largest [business-to-business] partner for the sports betting industry” and it “has become increasingly important to its customers (operators, leagues and media).”
A worldwide sports data-and content-solutions platform, Sportradar aggregates more than 1 million sporting events around the globe. It covered 85 sports in 2024, constituting 7.6 billion streams, 87 billion bets and more than 65 million customers. According to Truist, Sportradar “works with 800 betting operators, 900 media companies and 400 leagues/teams/federations.”
