DraftKings DKNG has been analyzed by 14 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 4 | 10 | 0 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 0 | 2 | 0 | 0 | 0 |
| 2M Ago | 3 | 3 | 0 | 0 | 0 |
| 3M Ago | 0 | 5 | 0 | 0 | 0 |
Insights from analysts' 12-month price targets are revealed, presenting an average target of $52.57, a high estimate of $62.00, and a low estimate of $44.00. Witnessing a positive shift, the current average has risen by 4.24% from the previous average price target of $50.43.
Diving into Analyst Ratings: An In-Depth Exploration
An in-depth analysis of recent analyst actions unveils 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 |
|---|---|---|---|---|---|
| Mike Hickey | Benchmark | Maintains | Buy | $44.00 | $44.00 |
| Jordan Bender | JMP Securities | Lowers | Market Outperform | $50.00 | $52.00 |
| Joseph Greff | JP Morgan | Raises | Overweight | $53.00 | $47.00 |
| Stephen Glagola | TD Cowen | Raises | Buy | $55.00 | $50.00 |
| Chad Beynon | Macquarie | Raises | Outperform | $51.00 | $50.00 |
| Brandt Montour | Barclays | Raises | Overweight | $50.00 | $45.00 |
| Jordan Bender | JMP Securities | Raises | Market Outperform | $52.00 | $51.00 |
| 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 |
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: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into 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.
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.
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 about 30 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.
Understanding the Numbers: DraftKings's Finances
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Positive Revenue Trend: Examining DraftKings's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 38.68% as of 30 September, 2024, showcasing a substantial increase in 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 is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of -26.81%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): DraftKings's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of -24.74%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): DraftKings's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of -6.92%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: With a below-average debt-to-equity ratio of 1.25, DraftKings adopts a prudent financial strategy, indicating a balanced approach to debt management.
The Core of Analyst Ratings: What Every Investor Should Know
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
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