DraftKings' (DKNG) Results Provide 'Breadcrumbs' for Getting into the Green - Needham & Company
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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) Reports Q4 Revenue of $473M, Increases 2022 Revenue Guidance
February 18, 2022 7:03 AM ESTDraftKings Inc. (Nasdaq: DKNG) today reported fourth quarter and full-year 2021 financial results
Fourth Quarter and Full-Year 2021 Highlights
For the three months ended December 31, 2021, DraftKings reported revenue of $473 million, an increase of 47% compared to $322 million during the same period in 2020. Fourth quarter 2021 revenue exceeded the guidance previously provided by the Company during its third quarter earnings conference call on November 5, 2021 by 8%. After giving pro forma effect to the business combination with SBTech (Global) Limited (SBTech) and Diamond Eagle Acquisition Corp. which was completed on April 23, 2020, as if it had occurred on January 1, 2019, revenue... More
DraftKings (DKNG) Q4 Revenue Tops Consensus, Lifts FY22 Revenue Guidance
February 18, 2022 7:03 AM ESTDraftKings (NASDAQ: DKNG) reported Q4 revenue of $473 million versus the consensus estimate of $445.3 million.
GUIDANCE:
DraftKings sees FY2022 revenue of $1.85-2.00 billion, versus the consensus of $1.9 billion.
DraftKings is raising its fiscal year 2022 revenue guidance from a range of $1.7 billion to $1.9 billion to a range of $1.85 billion to $2.0 billion which... More