What 24 Analyst Ratings Have To Say About DraftKings
Portfolio Pulse from Benzinga Insights
In the last three months, 24 analysts have provided diverse ratings on DraftKings (NASDAQ:DKNG), with a shift towards more bullish perspectives in the recent 30 days. The average 12-month price target for DKNG has risen to $51.83, up 12.16% from the previous target. Analysts from firms like Goldman Sachs, Morgan Stanley, and JP Morgan have adjusted their ratings and price targets, reflecting optimism about DraftKings' market position and financial performance. DraftKings has shown significant revenue growth and is expanding its online sports and casino gambling operations, despite challenges in profitability and asset utilization.
April 16, 2024 | 2:00 pm
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DraftKings has received a more bullish outlook from analysts, with an updated average 12-month price target of $51.83, indicating a positive sentiment towards the company's growth and market position.
The increase in the average price target and the shift towards more bullish ratings by analysts suggest a strong confidence in DraftKings' market strategy and financial performance. The company's significant revenue growth and expansion in online sports and casino gambling, despite some profitability challenges, contribute to a positive short-term outlook for DKNG's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100