Bernstein Lowers Price Target for DraftKings (DKNG) Amid Positiv

Bernstein Lowers Price Target for DraftKings (DKNG)

Key Takeaways

Bernstein analyst Ian Moore maintains an Outperform rating for DraftKings (DKNG) but reduces the price target from $55.00 to $50.00, representing a 9.09% decrease in expected stock value. Despite this adjustment, the rating reflects continued confidence in DraftKings' growth potential.

Analyst Outlook

DraftKings receives generally positive reviews from several analysts, showing a balance of optimism and recalibrated market expectations. Investors should watch these updates closely for their possible impact on stock performance.

Company Overview

Founded in 2012, DraftKings started as a pioneer in daily fantasy sports. After a 2018 Supreme Court decision allowing states to legalize online sports wagering, the company expanded into online sports and casino gambling. It typically ranks second or third in revenue share across states where it operates.

Market Presence

Active in online or retail sports betting in 28 states.
Offers i-gaming services in 5 states.
Reaches about 40% of Canada's population with both product lines.

Revenue Breakdown (2024)

Sports betting: 61% of total sales.
I-gaming: 32% of total sales.
Fantasy and lottery: 7% of total sales.

Additional Business Ventures

The company also runs an NFT commission-based marketplace and is engaged in developing and licensing online gaming products.

"Bernstein analyst Ian Moore reiterated an Outperform rating on DraftKings (DKNG), adjusting the price target from $55.00 to $50.00."

Author's summary: Bernstein lowers DraftKings' price target but keeps an Outperform rating, reflecting confidence amid evolving market outlook and strong multi-segment operations.

GuruFocus — 2025-11-03