Sports betting platform DraftKings Inc (NASDAQ:DKNG) gets continued praise from an analyst, despite competition from ESPN Bet.
The DraftKings Analyst: Needham analyst Bernie McTernan has a Buy rating and a price target of $50 on DraftKings.
The Analyst Takeaways: PENN Entertainment's (NASDAQ:PENN) ESPN Bet is a concern for DraftKings, but McTernan isn't too concerned.
"We believe the new customer promotions is roughly in-line with the industry and therefore do not expect a change to the benign competitive environment," McTernan said of ESPN Bet.
Penn Entertainment licenses the ESPN brand from The Walt Disney Company (NYSE:DIS). The company is offering $200 in bonus bets to ESPN Bet users.
"We do not think the ESPN Bet offer is overly aggressive and therefore unlikely to change the competitive intensity of the industry."
ESPN Bet ranks first among sports apps, as tracked weekly by McTernan. DraftKings ranked fifth for Week 11 of the NFL season, falling from third place in the prior week. FanDuel, a unit of Flutter Entertainment (OTC:PDYPY) moved to fourth place from fifth place in the prior week.
The results of Week 11 of the NFL season were likely mixed for sportsbooks, the analyst explains. One of the five largest underdogs won, but the trend of the under on total points continued to hit in a majority of games.
Overall, the analyst doesn't see a huge impact to DraftKings market share given the new competition from ESPN Bet.
"We see DKNG as a leader in the emerging North America online gambling market, a $35B market opportunity."
DraftKings has a "sustainable customer acquisition strategy," the analyst says. It should hold a market share position of first or second place in legalized states.
DKNG Price Action: DraftKings shares are up 1% to $38.92 versus a 52-week trading range of $10.69 to $39.06. The stock hit new 52-week highs on Monday, and shares are up over 250% year-to-date in 2023.
尽管有来自ESPN Bet的竞争,但体育博彩平台DraftKings公司(NASDAQ:DKNG)继续受到分析师的好评。
DraftKings分析师:Needham分析师伯尼·麦克特南对DraftKings的评级为买入,目标股价为50美元。
分析师要点:宾夕法尼亚娱乐公司(NASDAQ:PENN) 的ESPN Bet令DraftKings感到担忧,但麦克特南并不太担心。
麦克特南谈到ESPN Bet时说:“我们认为,新客户促销活动与行业大致一致,因此预计良性的竞争环境不会发生变化。”
宾夕法尼亚娱乐公司从沃尔特·迪斯尼公司(NYSE:DIS)授权ESPN品牌。该公司向ESPN Bet用户提供200美元的奖金投注。
“我们认为ESPN Bet的报价并不过于激进,因此不太可能改变该行业的竞争强度。”
根据麦克特南每周的追踪,ESPN Bet在体育应用程序中排名第一。DraftKings在NFL赛季的第11周中排名第五,低于前一周的第三名。Flutter Entertainment(OTC:PDYPY)旗下的FanDuel从前一周的第五名升至第四名。
分析师解释说,体育博彩业NFL赛季第11周的结果可能好坏参半。五个最大的弱者之一获胜,但在大多数比赛中,总得分低于的趋势继续出现。
总体而言,鉴于来自ESPN Bet的新竞争,这位分析师认为对DraftKings的市场份额没有太大影响。
“我们将DKNG视为新兴的北美在线赌博市场的领导者,这是一个350亿美元的市场机会。”
分析师说,DraftKings有一个 “可持续的客户获取策略”。它应该在合法化州占有第一或第二的市场份额。
DKNG价格走势:DraftKings股价上涨1%,至38.92美元,而52周的交易区间为10.69美元至39.06美元。该股周一创下52周新高,2023年迄今该股已上涨250%以上。