DraftKings Reports Fourth Quarter Revenue of $473 Million; Increases 2022 Revenue Guidance to $1.85 Billion to $2.0 Billion; Introduces 2022 Adjusted EBITDA Guidance
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DraftKings Inc. (DKNG) PT Lowered to $32 at Oppenheimer, 'Although Painful, Market Adoption Justifies Investments'
February 22, 2022 5:25 AM ESTOppenheimer analyst Jed Kelly lowered the price target on DraftKings Inc. (NASDAQ: DKNG) to $32.00 (from $35.00) while maintaining a Outperform rating.
The analyst comments "We are raising our '23E revenue 15% but lowering our '23E EBITDA $225M, reflecting DKNG investing into an OSB... More
Wells Fargo Downgrades DraftKings Inc. (DKNG) to Equal Weight
February 22, 2022 12:37 AM ESTWells Fargo analyst Dan Politzer downgraded DraftKings Inc. (NASDAQ: DKNG) from Overweight to Equal Weight with a price target of $19.00 (from $41.00).
The analyst comments "Our PT is $19 and is based on 3x 2023E EV/Sales (implies ~$16/share) plus $4/share for incremental equity value associated... More
Credit Suisse Offers Quick Review of DraftKings Inc. (DKNG) Earnings
February 18, 2022 8:32 AM ESTCredit Suisse analyst Ben Chaiken reiterated an Outperform rating and $85.00 price target on DraftKings Inc. (NASDAQ: DKNG).
The analyst comments "DKNG reported better than expected 4Q, with revenue of $473m vs our $445m and street $421m. EBITDA loss of $-128m compares to our $-148m. Importantly, DKNG noted that 5 states are currently contribution profit positive, and noted that if no new states were launched they would be EBITDA positive by 4Q22. Considering... More
DraftKings' (DKNG) Results Provide 'Breadcrumbs' for Getting into the Green - Needham & Company
February 18, 2022 7:54 AM ESTNeedham & Company analyst Bernie McTernan reiterated a Buy rating and $46.00 price target on DraftKings Inc. (NASDAQ: DKNG) following results this morning. While the 2022 estimated losses are wider there are "breadcrumbs" for getting into the green, the analyst said.
The analyst commented,... More
