Providing a diverse range of perspectives from bullish to bearish, 28 analysts have published ratings on DraftKings DKNG in the last three months.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 17 | 11 | 0 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 7 | 2 | 0 | 0 | 0 |
| 2M Ago | 2 | 2 | 0 | 0 | 0 |
| 3M Ago | 7 | 7 | 0 | 0 | 0 |
Insights from analysts' 12-month price targets are revealed, presenting an average target of $57.14, a high estimate of $65.00, and a low estimate of $50.00. This upward trend is apparent, with the current average reflecting a 1.38% increase from the previous average price target of $56.36.
Decoding Analyst Ratings: A Detailed Look
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 | Lowers | Buy | $60.00 | $65.00 |
| Shaun Kelley | B of A Securities | Lowers | Buy | $50.00 | $60.00 |
| Bernie McTernan | Needham | Maintains | Buy | $65.00 | $65.00 |
| Ben Chaiken | Mizuho | Lowers | Outperform | $59.00 | $62.00 |
| Jason Bazinet | Citigroup | Lowers | Buy | $55.00 | $65.00 |
| Lance Vitanza | TD Securities | Lowers | Buy | $55.00 | $60.00 |
| Barry Jonas | Truist Securities | Lowers | Buy | $50.00 | $60.00 |
| Brandt Montour | Barclays | Lowers | Overweight | $50.00 | $60.00 |
| Jeffrey Stantial | Stifel | Lowers | Buy | $53.00 | $57.00 |
| Clark Lampen | BTIG | Lowers | Buy | $52.00 | $64.00 |
| Curry Baker | Guggenheim | Lowers | Buy | $61.00 | $62.00 |
| Bernie McTernan | Needham | Maintains | Buy | $65.00 | $65.00 |
| Jordan Bender | Citizens Capital Markets | Lowers | Market Outperform | $57.00 | $60.00 |
| Jordan Bender | Citizens Capital Markets | Maintains | Market Outperform | $60.00 | $60.00 |
| Mike Hickey | Benchmark | Raises | Buy | $51.00 | $44.00 |
| Stephen Grambling | Morgan Stanley | Raises | Overweight | $53.00 | $49.00 |
| Joseph Greff | JP Morgan | Raises | Overweight | $61.00 | $53.00 |
| Jordan Bender | JMP Securities | Raises | Market Outperform | $60.00 | $50.00 |
| Daniel Politzer | Wells Fargo | Raises | Overweight | $60.00 | $53.00 |
| Matt Farrell | Piper Sandler | Raises | Overweight | $60.00 | $48.00 |
| Brandt Montour | Barclays | Raises | Overweight | $60.00 | $50.00 |
| Barry Jonas | Truist Securities | Raises | Buy | $60.00 | $50.00 |
| Jeffrey Stantial | Stifel | Raises | Buy | $57.00 | $48.00 |
| Bernie McTernan | Needham | Raises | Buy | $65.00 | $60.00 |
| Mike Hickey | Benchmark | Raises | Buy | $51.00 | $44.00 |
| Jordan Bender | JMP Securities | Maintains | Market Outperform | $50.00 | $50.00 |
| Michael Graham | Canaccord Genuity | Raises | Buy | $60.00 | $54.00 |
| 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: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of DraftKings compared to the broader market.
- Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of DraftKings's stock. This comparison reveals trends in analysts' expectations over time.
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.
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 about 25 states and iGaming in five states, with both products available to around 40% of Canada's population. In 2024, sports revenue was 61% of total sales, i-gaming 32%, and fantasy and lottery 7%. The company also operates a non-fungible token commissioned-based marketplace and develops and licenses online gaming products.
DraftKings: A Financial Overview
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Revenue Growth: DraftKings's remarkable performance in 3M is evident. As of 31 December, 2024, the company achieved an impressive revenue growth rate of 13.15%. This signifies 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 averages, indicating potential challenges in maintaining strong profitability. With a net margin of -9.68%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of -12.92%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of -3.15%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: With a below-average debt-to-equity ratio of 1.32, DraftKings adopts a prudent financial strategy, indicating a balanced approach to debt management.
The Core of Analyst Ratings: What Every Investor Should Know
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.
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