28 analysts have shared their evaluations of DraftKings DKNG during the recent three months, expressing a mix of bullish and bearish perspectives.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 16 | 12 | 0 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 8 | 6 | 0 | 0 | 0 |
| 2M Ago | 5 | 4 | 0 | 0 | 0 |
| 3M Ago | 2 | 2 | 0 | 0 | 0 |
Analysts have set 12-month price targets for DraftKings, revealing an average target of $51.96, a high estimate of $60.00, and a low estimate of $41.00. Observing a downward trend, the current average is 4.29% lower than the prior average price target of $54.29.
Decoding Analyst Ratings: A Detailed Look
A comprehensive examination of how financial experts perceive DraftKings is derived from recent analyst actions. The following is a detailed summary of 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 | $60.00 | $60.00 |
| Chad Beynon | Macquarie | Maintains | Outperform | $50.00 | $50.00 |
| Mike Hickey | Benchmark | Raises | Buy | $44.00 | $41.00 |
| Bernie McTernan | Needham | Maintains | Buy | $60.00 | $60.00 |
| Barry Jonas | Truist Securities | Maintains | Buy | $50.00 | $50.00 |
| Bernie McTernan | Needham | Maintains | Buy | $60.00 | $60.00 |
| Stephen Grambling | Morgan Stanley | Lowers | Overweight | $47.00 | $51.00 |
| Brandt Montour | Barclays | Lowers | Overweight | $43.00 | $53.00 |
| Chad Beynon | Macquarie | Lowers | Outperform | $50.00 | $52.00 |
| Jed Kelly | Oppenheimer | Lowers | Outperform | $55.00 | $58.00 |
| Barry Jonas | Truist Securities | Lowers | Buy | $50.00 | $53.00 |
| Jeffrey Stantial | Stifel | Lowers | Buy | $48.00 | $50.00 |
| Daniel Politzer | Wells Fargo | Lowers | Overweight | $47.00 | $53.00 |
| Ben Miller | Goldman Sachs | Lowers | Buy | $54.00 | $60.00 |
| Bernie McTernan | Needham | Maintains | Buy | $60.00 | $60.00 |
| Mike Hickey | Benchmark | Lowers | Buy | $41.00 | $52.00 |
| Brian Pitz | BMO Capital | Lowers | Outperform | $48.00 | $54.00 |
| Joseph Stauff | Susquehanna | Lowers | Positive | $47.00 | $49.00 |
| Bernie McTernan | Needham | Maintains | Buy | $60.00 | $60.00 |
| Shaun Kelley | B of A Securities | Lowers | Buy | $50.00 | $54.00 |
| Chad Beynon | Macquarie | Lowers | Outperform | $52.00 | $54.00 |
| Barry Jonas | Truist Securities | Lowers | Buy | $53.00 | $55.00 |
| Brandt Montour | Barclays | Lowers | Overweight | $53.00 | $54.00 |
| Jeffrey Stantial | Stifel | Maintains | Buy | $50.00 | $50.00 |
| Jed Kelly | Oppenheimer | Lowers | Outperform | $58.00 | $60.00 |
| Curry Baker | Guggenheim | Lowers | Buy | $52.00 | $53.00 |
| Daniel Politzer | Wells Fargo | Lowers | Overweight | $53.00 | $54.00 |
| Bernie McTernan | Needham | Maintains | Buy | $60.00 | $60.00 |
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: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of DraftKings compared to the broader market.
- Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of DraftKings's stock. This comparison reveals trends in analysts' expectations over time.
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into DraftKings's market standing. Stay informed and make well-considered decisions with our Ratings Table.
Stay up to date on DraftKings analyst ratings.
Discovering DraftKings: A Closer Look
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 25 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.
DraftKings: Delving into Financials
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's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 26.23%. This signifies 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 excels beyond industry benchmarks, reaching 5.78%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 5.99%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): DraftKings's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 1.59%, the company showcases efficient use of assets and strong financial health.
Debt Management: DraftKings's debt-to-equity ratio is below the industry average. With a ratio of 1.04, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
Analyst Ratings: What Are They?
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically 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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