In the preceding three months, 19 analysts have released ratings for DraftKings DKNG, presenting a wide array of perspectives from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 11 | 8 | 0 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 4 | 4 | 0 | 0 | 0 |
| 2M Ago | 3 | 2 | 0 | 0 | 0 |
| 3M Ago | 3 | 2 | 0 | 0 | 0 |
The 12-month price targets, analyzed by analysts, offer insights with an average target of $53.47, a high estimate of $60.00, and a low estimate of $41.00. Observing a downward trend, the current average is 3.43% lower than the prior average price target of $55.37.
Understanding Analyst Ratings: A Comprehensive Breakdown
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 |
| 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 |
| 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 |
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: Providing a comprehensive analysis, analysts offer 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 explore the dynamics of price targets, providing estimates for the future value of DraftKings's stock. This examination reveals shifts 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 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.
DraftKings: Delving into Financials
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Negative Revenue Trend: Examining DraftKings's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -6.0% in revenue growth, reflecting a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Consumer Discretionary sector.
Net Margin: DraftKings's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 5.78% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): DraftKings's ROE stands out, surpassing industry averages. With an impressive ROE of 5.99%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): DraftKings's ROA excels beyond industry benchmarks, reaching 1.59%. This signifies efficient management of assets and strong financial health.
Debt Management: DraftKings's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 1.04.
How Are Analyst Ratings Determined?
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.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
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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