SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : DraftKings, Inc. / Online Gambling
DKNG 30.590.0%9:30 AM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: Julius Wong10/12/2020 8:09:55 AM
1 Recommendation

Recommended By
Glenn Petersen

   of 282
 
DraftKings +3% after analysts back sports betting story
Oct. 12, 2020 7:59 AM ET|About: DraftKings Inc. (DKNG)|By: Clark Schultz, SA News Editor

DraftKings (NASDAQ: DKNG) is on watch with one Wall Street firm launches new coverage with a Bull rating and another backs its positive view. Both ratings actions follow last week's Q3 pre-announcement from DraftKings.

Credit Suisse: "We initiate coverage of DraftKings with an Outperform Rating and $76 Target Price. DraftKings has become a leader in the rapidly growing B2C (Business-to-Consumer) U.S. mobile sports betting industry following the legalization of sports betting in May 2018. Our Outperform rating is supported by 4 drivers: (1) upside to our estimates and market TAM from the evolution of in-game betting which benefits margins and volumes, (2) structural differences in the construction of the US sports betting market (e.g., limited skins/licenses) which should lead to higher than expected market share, (3) unique customer acquisition strategy and marketing relationships which should drive margin expansion and market share and (4) an acceleration in sports betting/iGaming legalization in the U.S. following COVID."

Needham (Buy, $70 price target): "While some may view last week's preannouncement as mixed, we come away more encouraged on DKNG due to clear outperformance on the customer acquisition front, which is critical given online sports betting's infancy state. OSB profitability levels and CAC are likely to remain persistent debates on the name, in our view, but broadly, we think this space (OSB + iGaming) is enjoying a rising secular tide with DKNG having first-mover & brand advantages."

Shares of DraftKings are up 3.30% premarket to $50.32. The 2020 high for shares is $64.19.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News