On Nov 12, major Wall Street analysts update their ratings for $DraftKings (DKNG.US)$, with price targets ranging from $48 to $60.
Barclays analyst Brandt Montour maintains with a buy rating, and maintains the target price at $50.
Wells Fargo analyst Daniel Politzer maintains with a buy rating, and maintains the target price at $53.
TD Cowen analyst Lance Vitanza maintains with a buy rating, and adjusts the target price from $50 to $55.
Needham analyst Bernie McTernan maintains with a buy rating, and maintains the target price at $60.
Stifel analyst Jeffrey Stantial maintains with a buy rating, and maintains the target price at $48.
Furthermore, according to the comprehensive report, the opinions of $DraftKings (DKNG.US)$'s main analysts recently are as follows:
The company's guidance for Q4 and the year 2025 is seen as conservative. Additionally, the underlying structural hold tailwinds are still present.
DraftKings announced third-quarter revenues that were slightly less than the general market expectations, in conjunction with adjusted EBITDA that surpassed the consensus. The company has moderated its 2024 forecast due to outcomes in the early fourth quarter that were favorable to customers, yet it has maintained its 2025 adjusted EBTDA forecast. Additionally, management has indicated that there are multiple factors which could positively influence the company's projections for 2025.
The firm acknowledges improvements in the company's disclosures but expresses concerns regarding the clarity of its guidance. It suggests that the current stock valuation reflects an expectation of near-flawless performance by the year 2025.
Revenue growth was described as robust despite being slightly below forecasts, with a substantial year-over-year rise in active customers and a reduction in Customer Acquisition Cost, contributing to an improved EBITDA margin.
DraftKings' narrower losses in Q3 were a result of robust player acquisition and retention, expansion into new jurisdictions, and the integration of Jackpocket. It's believed that DraftKings stands out as one of the most attractive opportunities among high-growth entities.
Here are the latest investment ratings and price targets for $DraftKings (DKNG.US)$ from 8 analysts:
Note:
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