In the preceding three months, 32 analysts have released ratings for DraftKings DKNG, presenting a wide array of perspectives from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 19 | 13 | 0 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 4 | 3 | 0 | 0 | 0 |
| 2M Ago | 9 | 7 | 0 | 0 | 0 |
| 3M Ago | 5 | 3 | 0 | 0 | 0 |
In the assessment of 12-month price targets, analysts unveil insights for DraftKings, presenting an average target of $52.34, a high estimate of $60.00, and a low estimate of $41.00. A decline of 3.52% from the prior average price target is evident in the current average.
Investigating Analyst Ratings: An Elaborate Study
The perception of DraftKings by financial experts is analyzed through recent analyst actions. 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 |
|---|---|---|---|---|---|
| Bernie McTernan | Needham | Maintains | Buy | $60.00 | $60.00 |
| Bernie McTernan | Needham | Maintains | Buy | $60.00 | $60.00 |
| Stephen Grambling | Morgan Stanley | Maintains | Overweight | $47.00 | $47.00 |
| Bernie McTernan | Needham | Maintains | Buy | $60.00 | $60.00 |
| Robin Farley | UBS | Raises | Buy | $58.00 | $56.00 |
| Joseph Stauff | Susquehanna | Raises | Positive | $48.00 | $47.00 |
| 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 |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to DraftKings. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of DraftKings compared to the broader market.
- Price Targets: Understanding forecasts, analysts offer estimates for DraftKings's future value. Examining the current and prior targets provides insight into analysts' changing expectations.
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of DraftKings's market position. Stay informed and make well-informed decisions with 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 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.
A Deep Dive into DraftKings's Financials
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Revenue Growth: Over the 3 months period, DraftKings showcased positive performance, achieving a revenue growth rate of 26.23% as of 30 June, 2024. This reflects 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: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 5.78%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): DraftKings's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 5.99% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 1.59%, the company showcases effective utilization of assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 1.04.
Analyst Ratings: What Are They?
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.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
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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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