DraftKings Stock Has 24% Upside, According to 1 Wall Street Analyst [Yahoo! Finance]
DraftKings Inc. - Class A (DKNG)
Company Research
Source: Yahoo! Finance
Mizuho initiated coverage of the stock with a "buy" rating and a $58 price target , representing a 24% upside over the next 12 months or so from the stock's current price. Here's why the firm is bullish on the shares. The reason behind the call Mizuho likes the company's commanding lead with over 30% share of the North American online sports betting market . Importantly, this lead allows DraftKings to win new customers without having to increase marketing expenses along with revenue. Marketing is turning out to be a valuable lever to control operating expenses, which should lead to higher profits this year. In the fourth quarter, the company's net loss narrowed from $242 million in the year-ago quarter to $44 million. Management is guiding for positive free cash flow between $310 million to $410 million for 2024, which could be even more beneficial for the stock. Is DraftKings stock a buy? It's difficult to say when (or if) DraftKings will reach the analyst's $58 price targ
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DKNG
Earnings
- 2/15/24 - Beat
DKNG
Sec Filings
- 4/24/24 - Form 4
- 4/24/24 - Form 4
- 4/24/24 - Form 4
- DKNG's page on the SEC website