Analysts' ratings for DraftKings DKNG over the last quarter vary from bullish to bearish, as provided by 27 analysts.
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 | 11 | 15 | 1 | 0 | 0 |
| Last 30D | 2 | 0 | 0 | 0 | 0 |
| 1M Ago | 2 | 3 | 0 | 0 | 0 |
| 2M Ago | 4 | 4 | 0 | 0 | 0 |
| 3M Ago | 3 | 8 | 1 | 0 | 0 |
Analysts have set 12-month price targets for DraftKings, revealing an average target of $53.3, a high estimate of $60.00, and a low estimate of $41.00. Observing a 12.83% increase, the current average has risen from the previous average price target of $47.24.
Decoding Analyst Ratings: A Detailed Look
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 |
|---|---|---|---|---|---|
| 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 |
| Stephen Grambling | Morgan Stanley | Raises | Overweight | $49.00 | $40.00 |
| Brandt Montour | Barclays | Raises | Overweight | $50.00 | $41.00 |
| Daniel Politzer | Wells Fargo | Raises | Overweight | $53.00 | $39.00 |
| Barry Jonas | Truist Securities | Raises | Buy | $55.00 | $45.00 |
| Jed Kelly | Oppenheimer | Raises | Outperform | $60.00 | $55.00 |
| Brandt Montour | Barclays | Raises | Equal-Weight | $41.00 | $36.00 |
| Bernie McTernan | Needham | Raises | Buy | $54.00 | $50.00 |
| Brian Pitz | BMO Capital | Raises | Outperform | $51.00 | $43.00 |
| Joseph Stauff | Susquehanna | Raises | Positive | $51.00 | $49.00 |
| Bernie McTernan | Needham | Maintains | Buy | $50.00 | - |
| Jed Kelly | Oppenheimer | Raises | Outperform | $55.00 | $44.00 |
| Matt Farrell | Piper Sandler | Raises | Overweight | $50.00 | $40.00 |
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: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of DraftKings compared to the broader market.
- Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.
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 sports betting in 24 states (46% of the US population) and iGaming in seven states (11% of US), 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's Financial Performance
Market Capitalization Analysis: The company's market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.
Revenue Growth: DraftKings displayed positive results in 3 months. As of 31 December, 2023, the company achieved a solid revenue growth rate of approximately 43.94%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Consumer Discretionary sector.
Net Margin: DraftKings's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of -3.63%, the company may face hurdles in effective cost management.
Return on Equity (ROE): DraftKings's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -5.44%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): DraftKings's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of -1.14%, the company may face hurdles in achieving optimal financial returns.
Debt Management: DraftKings's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 1.6.
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.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
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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