These Analysts Lower Their Forecasts On DraftKings After Q2 Results
Portfolio Pulse from Avi Kapoor
DraftKings Inc. (NASDAQ:DKNG) reported mixed Q2 results with revenue of $1.10 billion, missing estimates, but EPS of 22 cents, beating expectations. The company raised its full-year 2024 revenue guidance but lowered its adjusted EBITDA guidance. Analysts lowered their price targets on DraftKings following the earnings announcement.
August 05, 2024 | 6:21 pm
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DraftKings reported mixed Q2 results with revenue of $1.10 billion, missing estimates, but EPS of 22 cents, beating expectations. The company raised its full-year 2024 revenue guidance but lowered its adjusted EBITDA guidance. Analysts lowered their price targets on DraftKings following the earnings announcement.
The mixed Q2 results, with revenue missing estimates and EPS beating expectations, create uncertainty. The raised revenue guidance is positive, but the lowered adjusted EBITDA guidance is a concern. Analysts lowering their price targets indicates a cautious outlook, likely leading to short-term downward pressure on the stock.
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