DraftKings Stock: A Deep Dive Into Analyst Perspectives (18 Ratings)
Portfolio Pulse from Benzinga Insights
DraftKings (NASDAQ:DKNG) has been the subject of 18 analyst ratings in the past three months, with a consensus leaning towards bullish. The average 12-month price target is $44.78, up from $39.36, with a high estimate of $50.00 and a low of $36.00. Analysts from firms like Needham, Argus Research, Craig-Hallum, Guggenheim, Benchmark, Susquehanna, UBS, Truist Securities, and Morgan Stanley have provided updates, with most maintaining or raising their price targets. DraftKings operates in online sports and casino gambling, and has shown a revenue growth rate of 57.38% as of September 30, 2023, but struggles with profitability and efficiency, as indicated by its net margin and ROE/ROA figures.
December 26, 2023 | 12:00 pm
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POSITIVE IMPACT
DraftKings has received predominantly bullish ratings from analysts, with an increased average price target suggesting confidence in its growth prospects. The company's strong revenue growth is a positive indicator, although profitability and efficiency metrics are below industry averages.
The positive analyst ratings and raised price targets for DraftKings suggest that the market is optimistic about the company's future performance, which could lead to a short-term increase in stock price. However, the concerns about profitability and efficiency may temper the extent of the positive impact.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100