UPDATE: Roth Capital Starts DraftKings Inc. (DKNG) at Sell

October 12, 2021 7:36 AM EDT
Get Alerts DKNG Hot Sheet
Price: $49.09 --0%

Rating Summary:
    23 Buy, 7 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 5 | Down: 12 | New: 29
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(Updated - October 12, 2021 7:36 AM EDT)

Roth Capital analyst Edward Engel initiates coverage on DraftKings Inc. (NASDAQ: DKNG) with a Sell rating and a price target of $41.00.

The analyst comments "We initiate coverage on DKNG with a Sell rating as the only broker with a negative outlook. While we're bullish on U.S. online gaming, we don't believe 70% market share for the three leaders (Fanduel, BetMGM, DraftKings) is sustainable and see DraftKings conceding market share as mid-tier operators ramp customer acquisition and better cross-sell legacy casino customers. While DraftKings' Daily Fantasy Sports (DFS) products offer early market share advantages, we see benefits fading as markets mature."

For an analyst ratings summary and ratings history on DraftKings Inc. click here. For more ratings news on DraftKings Inc. click here.

Shares of DraftKings Inc. closed at $48.88 yesterday.

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