8 analysts have expressed a variety of opinions on DraftKings DKNG over the past quarter, offering a diverse set of opinions from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 5 | 2 | 0 | 1 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 1 | 0 | 0 | 1 | 0 |
| 2M Ago | 1 | 1 | 0 | 0 | 0 |
| 3M Ago | 3 | 0 | 0 | 0 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $45.25, a high estimate of $50.00, and a low estimate of $28.00. Marking an increase of 13.12%, the current average surpasses the previous average price target of $40.00.
Analyzing Analyst Ratings: A Detailed Breakdown
The standing of DraftKings among financial experts is revealed through an in-depth exploration 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 |
|---|---|---|---|---|---|
| Matt Farrell | Piper Sandler | Raises | Overweight | $50.00 | $40.00 |
| Alistair Johnson | Exane BNP Paribas | Announces | Underperform | $28.00 | - |
| Jeffrey Stantial | Stifel | Raises | Buy | $45.00 | $40.00 |
| Brian Pitz | BMO Capital | Announces | Outperform | $43.00 | - |
| 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 | - |
Key Insights:
- Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to DraftKings. This offers insight into analysts' perspectives on the current state of the company.
- Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of DraftKings compared to the broader market.
- Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of DraftKings's stock. This examination reveals shifts in analysts' expectations over time.
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of DraftKings's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
Stay up to date on DraftKings analyst ratings.
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.
Key Indicators: DraftKings's Financial Health
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
Revenue Growth: DraftKings's revenue growth over a period of 3 months has been noteworthy. As of 30 September, 2023, the company achieved a revenue growth rate of approximately 57.38%. This indicates a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Consumer Discretionary sector.
Net Margin: DraftKings's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of -35.84%, the company may encounter challenges in effective cost control.
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 lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of -7.58%, the company may face hurdles in achieving optimal financial performance.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 1.67.
Analyst Ratings: Simplified
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
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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