In the last three months, 24 analysts have published ratings on DraftKings DKNG, offering a diverse range of perspectives from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 9 | 13 | 1 | 1 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 3 | 5 | 0 | 0 | 0 |
| 2M Ago | 4 | 6 | 1 | 0 | 0 |
| 3M Ago | 1 | 2 | 0 | 1 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $51.83, a high estimate of $60.00, and a low estimate of $28.00. Surpassing the previous average price target of $46.21, the current average has increased by 12.16%.
Decoding Analyst Ratings: A Detailed Look
The analysis of recent analyst actions sheds light on the perception of DraftKings by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Ben Miller | Goldman Sachs | Announces | Buy | $60.00 | - |
| Stephen Grambling | Morgan Stanley | Raises | Overweight | $50.00 | $49.00 |
| Joseph Greff | JP Morgan | Maintains | Overweight | $55.00 | $55.00 |
| Robert Fishman | MoffettNathanson | Raises | Buy | $55.00 | $52.00 |
| Bernie McTernan | Needham | Raises | Buy | $58.00 | $54.00 |
| Joseph Stauff | Susquehanna | Raises | Positive | $54.00 | $51.00 |
| Ben Chaiken | Mizuho | Announces | Buy | $58.00 | - |
| Joseph Stauff | Susquehanna | Raises | Positive | $54.00 | $51.00 |
| Jordan Bender | JMP Securities | Maintains | Market Outperform | $52.00 | - |
| Robin Farley | UBS | Raises | Buy | $56.00 | $44.00 |
| Stephen Grambling | Morgan Stanley | Raises | Overweight | $49.00 | $40.00 |
| Brandt Montour | Barclays | Raises | Overweight | $50.00 | $41.00 |
| Daniel Politzer | Wells Fargo | Raises | Overweight | $53.00 | $39.00 |
| Barry Jonas | Truist Securities | Raises | Buy | $55.00 | $45.00 |
| Jed Kelly | Oppenheimer | Raises | Outperform | $60.00 | $55.00 |
| Brandt Montour | Barclays | Raises | Equal-Weight | $41.00 | $36.00 |
| Bernie McTernan | Needham | Raises | Buy | $54.00 | $50.00 |
| Brian Pitz | BMO Capital | Raises | Outperform | $51.00 | $43.00 |
| Joseph Stauff | Susquehanna | Raises | Positive | $51.00 | $49.00 |
| Bernie McTernan | Needham | Maintains | Buy | $50.00 | - |
| Jed Kelly | Oppenheimer | Raises | Outperform | $55.00 | $44.00 |
| 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 |
Key Insights:
- Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to DraftKings. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of DraftKings compared to the broader market.
- Price Targets: Gaining insights, analysts provide estimates for the future value of DraftKings's stock. This comparison reveals trends in analysts' expectations over time.
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of DraftKings's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
Stay up to date on DraftKings analyst ratings.
Unveiling the Story Behind 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 24 states (46% of the US population) and iGaming in seven states (11% of US), 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.
Financial Insights: DraftKings
Market Capitalization Analysis: With a profound presence, the company's market capitalization is above industry averages. This reflects substantial size and strong market recognition.
Positive Revenue Trend: Examining DraftKings's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 43.94% as of 31 December, 2023, showcasing a substantial increase in top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Consumer Discretionary sector.
Net Margin: DraftKings's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of -3.63%, the company may face hurdles in effective cost management.
Return on Equity (ROE): DraftKings's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of -5.44%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of -1.14%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: DraftKings's debt-to-equity ratio is below the industry average. With a ratio of 1.6, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
The Basics of Analyst Ratings
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and 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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