Providing a diverse range of perspectives from bullish to bearish, 26 analysts have published ratings on DraftKings DKNG in the last three months.
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 | 15 | 10 | 1 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 8 | 4 | 1 | 0 | 0 |
| 2M Ago | 2 | 2 | 0 | 0 | 0 |
| 3M Ago | 4 | 4 | 0 | 0 | 0 |
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $54.35, a high estimate of $60.00, and a low estimate of $35.00. This upward trend is apparent, with the current average reflecting a 5.0% increase from the previous average price target of $51.76.
Breaking Down Analyst Ratings: A Detailed Examination
In examining recent analyst actions, we gain insights into how financial experts perceive DraftKings. The following summary 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 |
|---|---|---|---|---|---|
| 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 |
| Mike Hickey | Benchmark | Raises | Buy | $52.00 | $50.00 |
| Bernie McTernan | Needham | Maintains | Buy | $58.00 | - |
| Joseph Stauff | Susquehanna | Raises | Positive | $56.00 | $54.00 |
| Mike Hickey | Benchmark | Maintains | Buy | $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 |
| 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 |
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: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey 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.
Delving into DraftKings's Background
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 Analysis: With a profound presence, the company's market capitalization is above industry averages. This reflects substantial size and strong market recognition.
Revenue Growth: DraftKings's revenue growth over a period of 3 months has been noteworthy. As of 31 March, 2024, the company achieved a revenue growth rate of approximately 52.67%. This indicates 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 is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of -12.13%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): DraftKings's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -17.06%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): DraftKings's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of -3.68%, the company may face hurdles in achieving optimal financial performance.
Debt Management: DraftKings's debt-to-equity ratio is below the industry average. With a ratio of 1.62, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
Analyst Ratings: Simplified
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
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.
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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