Throughout the last three months, 23 analysts have evaluated DraftKings DKNG, offering a diverse set of opinions from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 13 | 9 | 1 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 3 | 2 | 0 | 0 | 0 |
| 2M Ago | 7 | 3 | 1 | 0 | 0 |
| 3M Ago | 3 | 3 | 0 | 0 | 0 |
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $54.04, along with a high estimate of $60.00 and a low estimate of $35.00. This current average has increased by 2.06% from the previous average price target of $52.95.
Exploring Analyst Ratings: An In-Depth Overview
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 |
|---|---|---|---|---|---|
| Daniel Politzer | Wells Fargo | Lowers | Overweight | $53.00 | $54.00 |
| Bernie McTernan | Needham | Maintains | Buy | $60.00 | $60.00 |
| Joseph Stauff | Susquehanna | Lowers | Positive | $49.00 | $56.00 |
| Jeffrey Stantial | Stifel | Lowers | Buy | $50.00 | $51.00 |
| Jed Kelly | Oppenheimer | Maintains | Outperform | $60.00 | $60.00 |
| Bernie McTernan | Needham | Maintains | Buy | $60.00 | $60.00 |
| Robin Farley | UBS | Raises | Buy | $60.00 | $56.00 |
| Jeffrey Stantial | Stifel | Raises | Buy | $51.00 | $50.00 |
| David Katz | Jefferies | Raises | Buy | $54.00 | $52.00 |
| Carlo Santarelli | Deutsche Bank | Raises | Hold | $35.00 | $34.00 |
| Brandt Montour | Barclays | Raises | Overweight | $54.00 | $52.00 |
| Brian Pitz | BMO Capital | Raises | Outperform | $54.00 | $51.00 |
| Clark Lampen | BTIG | Raises | Buy | $55.00 | $53.00 |
| Bernie McTernan | Needham | Raises | Buy | $60.00 | $58.00 |
| Bernie McTernan | Needham | Maintains | Buy | $58.00 | $58.00 |
| Mike Hickey | Benchmark | Raises | Buy | $52.00 | $50.00 |
| Joseph Stauff | Susquehanna | Raises | Positive | $56.00 | $54.00 |
| Mike Hickey | Benchmark | Maintains | Buy | $50.00 | $50.00 |
| Brandt Montour | Barclays | Raises | Overweight | $52.00 | $50.00 |
| 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 |
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: Analysts provide insights into price targets, offering estimates for the future value of DraftKings's stock. This comparison reveals trends in analysts' expectations over time.
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.
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 or retail sports betting in 27 states and iGaming in seven states, 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 Milestones: DraftKings's Journey
Market Capitalization Analysis: The company's market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.
Revenue Growth: DraftKings displayed positive results in 3 months. As of 31 March, 2024, the company achieved a solid revenue growth rate of approximately 52.67%. 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 falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of -12.13%, 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 -17.06%, 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 -3.68%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 1.62.
The Basics of Analyst Ratings
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
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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