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Wall Street JournalIn-Depth Examination Of 33 Analyst Recommendations For DraftKings
In the last three months, 33 analysts have published ratings on DraftKings (NASDAQ:DKNG), offering a diverse range of perspectives from bullish to bearish.
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 | 18 | 15 | 0 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 3 | 3 | 0 | 0 | 0 |
| 2M Ago | 5 | 3 | 0 | 0 | 0 |
| 3M Ago | 10 | 8 | 0 | 0 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $51.7, a high estimate of $60.00, and a low estimate of $41.00. This current average has decreased by 2.67% from the previous average price target of $53.12.
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 |
|---|---|---|---|---|---|
| Jordan Bender | JMP Securities | Maintains | Market Outperform | $51.00 | $51.00 |
| Mike Hickey | Benchmark | Maintains | Buy | $44.00 | $44.00 |
| Joseph Stauff | Susquehanna | Raises | Positive | $50.00 | $48.00 |
| Brandt Montour | Barclays | Raises | Overweight | $45.00 | $43.00 |
| Joseph Greff | JP Morgan | Raises | Overweight | $54.00 | $48.00 |
| Bernie McTernan | Needham | Maintains | Buy | $60.00 | $60.00 |
| Bernie McTernan | Needham | Maintains | Buy | $60.00 | $60.00 |
| Stephen Grambling | Morgan Stanley | Maintains | Overweight | $47.00 | $47.00 |
| Bernie McTernan | Needham | Maintains | Buy | $60.00 | $60.00 |
| Robin Farley | UBS | Raises | Buy | $58.00 | $56.00 |
| Joseph Stauff | Susquehanna | Raises | Positive | $48.00 | $47.00 |
| Bernie McTernan | Needham | Maintains | Buy | $60.00 | $60.00 |
| Chad Beynon | Macquarie | Maintains | Outperform | $50.00 | $50.00 |
| Mike Hickey | Benchmark | Raises | Buy | $44.00 | $41.00 |
| Bernie McTernan | Needham | Maintains | Buy | $60.00 | $60.00 |
| Barry Jonas | Truist Securities | Maintains | Buy | $50.00 | $50.00 |
| Bernie McTernan | Needham | Maintains | Buy | $60.00 | $60.00 |
| Stephen Grambling | Morgan Stanley | Lowers | Overweight | $47.00 | $51.00 |
| Brandt Montour | Barclays | Lowers | Overweight | $43.00 | $53.00 |
| Chad Beynon | Macquarie | Lowers | Outperform | $50.00 | $52.00 |
| Jed Kelly | Oppenheimer | Lowers | Outperform | $55.00 | $58.00 |
| Barry Jonas | Truist Securities | Lowers | Buy | $50.00 | $53.00 |
| Jeffrey Stantial | Stifel | Lowers | Buy | $48.00 | $50.00 |
| Daniel Politzer | Wells Fargo | Lowers | Overweight | $47.00 | $53.00 |
| Ben Miller | Goldman Sachs | Lowers | Buy | $54.00 | $60.00 |
| 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 |
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: 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: Delving into movements, analysts provide estimates for the future value of DraftKings's stock. This analysis reveals shifts in analysts' expectations over time.
To gain a panoramic view of DraftKings's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using 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 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.
Understanding the Numbers: DraftKings's Finances
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Positive Revenue Trend: Examining DraftKings's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 26.23% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Consumer Discretionary sector.
Net Margin: DraftKings's net margin is impressive, surpassing industry averages. With a net margin of 5.78%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): DraftKings's ROE excels beyond industry benchmarks, reaching 5.99%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): DraftKings's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.59% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: With a below-average debt-to-equity ratio of 1.04, DraftKings adopts a prudent financial strategy, indicating a balanced approach to debt management.
The Core of Analyst Ratings: What Every Investor Should Know
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
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.
Which Stocks Are Analysts Recommending Now?
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This article was generated by Benzinga's automated content engine and reviewed by an editor.