DraftKings DKNG has been analyzed by 18 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 15 | 3 | 0 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 2 | 0 | 0 | 0 | 0 |
| 2M Ago | 9 | 2 | 0 | 0 | 0 |
| 3M Ago | 3 | 1 | 0 | 0 | 0 |
In the assessment of 12-month price targets, analysts unveil insights for DraftKings, presenting an average target of $44.78, a high estimate of $50.00, and a low estimate of $36.00. Observing a 13.77% increase, the current average has risen from the previous average price target of $39.36.
Decoding Analyst Ratings: A Detailed Look
A clear picture of DraftKings's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Bernie McTernan | Needham | Maintains | Buy | $50.00 | - |
| John Eade | Argus Research | Raises | Buy | $46.00 | $40.00 |
| Bernie McTernan | Needham | Maintains | Buy | $50.00 | - |
| Bernie McTernan | Needham | Maintains | Buy | $50.00 | - |
| Ryan Sigdahl | Craig-Hallum | Raises | Buy | $45.00 | $40.00 |
| Curry Baker | Guggenheim | Raises | Buy | $45.00 | $39.00 |
| Mike Hickey | Benchmark | Raises | Buy | $41.00 | $37.00 |
| Bernie McTernan | Needham | Maintains | Buy | $50.00 | - |
| Joseph Stauff | Susquehanna | Raises | Positive | $42.00 | $37.00 |
| Bernie McTernan | Needham | Maintains | Buy | $50.00 | - |
| Robin Farley | UBS | Raises | Buy | $44.00 | $39.00 |
| Barry Jonas | Truist Securities | Raises | Buy | $45.00 | $44.00 |
| Bernie McTernan | Needham | Raises | Buy | $50.00 | $44.00 |
| Joseph Stauff | Susquehanna | Lowers | Positive | $37.00 | $40.00 |
| Bernie McTernan | Needham | Maintains | Buy | $44.00 | - |
| Stephen Grambling | Morgan Stanley | Raises | Overweight | $36.00 | $35.00 |
| Curry Baker | Guggenheim | Lowers | Buy | $37.00 | $38.00 |
| Bernie McTernan | Needham | Maintains | Buy | $44.00 | - |
Key Insights:
- Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to DraftKings. This insight gives a snapshot of analysts' perspectives on the current state of the company.
- Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of DraftKings compared to the broader market.
- Price Targets: Analysts navigate through adjustments in price targets, providing estimates for DraftKings's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.
Capture valuable insights into DraftKings's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
Stay up to date on DraftKings analyst ratings.
All You Need to Know About DraftKings
DraftKings got its start in 2012 as an innovator in daily fantasy sports. Then, following a Supreme Court ruling in 2018 that allowed states to legalize online sports wagering, the company expanded into online sports and casino gambling, where it generally holds the number two or three revenue share position across states in which it competes. DraftKings is now live with online sports betting in 21 states (44% of the U.S. population) and iGaming in five states (11% of U.S.), with both products available to around 40% of Canada's population. The company also operates a non-fungible token commissioned-based marketplace and develops and licenses online gaming products.
Breaking Down DraftKings's Financial Performance
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
Revenue Growth: DraftKings displayed positive results in 3 months. As of 30 September, 2023, the company achieved a solid revenue growth rate of approximately 57.38%. This indicates a notable increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Consumer Discretionary sector.
Net Margin: DraftKings's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of -35.84%, the company may face hurdles in effective cost management.
Return on Equity (ROE): DraftKings's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of -31.11%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): DraftKings's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of -7.58%, the company may face hurdles in achieving optimal financial returns.
Debt Management: DraftKings's debt-to-equity ratio is below the industry average. With a ratio of 1.67, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
The Core of Analyst Ratings: What Every Investor Should Know
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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