23 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 | 12 | 11 | 0 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 1 | 5 | 0 | 0 | 0 |
| 2M Ago | 3 | 3 | 0 | 0 | 0 |
| 3M Ago | 7 | 3 | 0 | 0 | 0 |
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $53.52, with a high estimate of $62.00 and a low estimate of $44.00. Marking an increase of 2.49%, the current average surpasses the previous average price target of $52.22.
Analyzing Analyst Ratings: A Detailed Breakdown
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 |
|---|---|---|---|---|---|
| Bernie McTernan | Needham | Maintains | Buy | $60.00 | $60.00 |
| Bernie McTernan | Needham | Maintains | Buy | $60.00 | $60.00 |
| Stephen Grambling | Morgan Stanley | Raises | Overweight | $48.00 | $47.00 |
| Ben Chaiken | Mizuho | Raises | Outperform | $62.00 | $54.00 |
| Daniel Politzer | Wells Fargo | Raises | Overweight | $52.00 | $47.00 |
| Brian Pitz | BMO Capital | Maintains | Outperform | $48.00 | $48.00 |
| Jordan Bender | JMP Securities | Maintains | Market Outperform | $51.00 | $51.00 |
| Mike Hickey | Benchmark | Maintains | Buy | $44.00 | $44.00 |
| Joseph Stauff | Susquehanna | Raises | Positive | $50.00 | $48.00 |
| Brandt Montour | Barclays | Raises | Overweight | $45.00 | $43.00 |
| Joseph Greff | JP Morgan | Raises | Overweight | $54.00 | $48.00 |
| 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 |
Key Insights:
- Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to DraftKings. This insight gives a snapshot of analysts' perspectives on 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: Analysts predict movements in price targets, offering estimates for DraftKings's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.
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.
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.
Key Indicators: DraftKings's Financial Health
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. When compared to others in the Consumer Discretionary sector, the company excelled with a growth rate higher than the average among peers.
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): 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): 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: With a below-average debt-to-equity ratio of 1.04, DraftKings adopts a prudent financial strategy, indicating a balanced approach to debt management.
The Basics of Analyst Ratings
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.
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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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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