DraftKings stock price target cut nearly 30% at Benchmark as valuation is ‘rationalized’ [Yahoo! Finance News]
DraftKings Inc. - Class A (DKNG)
Company Research
Source: Yahoo! Finance News
DraftKings Inc. stock price target was slashed Thursday at Benchmark, with analyst Mike Hickey saying he “rationalized” his valuation of the company given the recent broader market trend in high growth and gaming stocks.Hickey affirmed the buy rating he’s had on the digital sports entertainment and gaming company’s stock, “We suspect the market is effectively pricing concerns over theOmicron coronavirus variantinflation impact on economic growth and consumer discretionary spendhawkish pivot from the Federal ReserveThe stock had surged as much as 4.2% in intraday trading before paring gains to be up 0.5% in midday trading.DraftKings’ stock has tumbled 34.1% in the past month to close Wednesday at the lowest price since July 2020, and has lost about half its value since it closed at five-month high of $63.67 on Sept. 9. In comparison, the Russell 2000, , The stock’s selloff was helped along after the company reported on Nov. 5 awider-than-expected third-quarte
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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