Analyst Mike Hickey of Benchmark Co. maintained a Buy rating on DraftKings, retaining the price target of $37.00.
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Mike Hickey has given his Buy rating due to a combination of factors that highlight DraftKings’ superior execution and market share momentum in New York online sports betting. While overall market growth in Week 17 was modest, DraftKings delivered notably faster gains in both betting volume and revenue, supported by a consistent win rate that underscores operational discipline and effective risk management. This outperformance signals that the company is capturing additional share even as industry demand moderates, reinforcing confidence in the durability of its competitive position.
Season-to-date data through Week 17 further supports the positive view, as New York’s underlying market expansion has been robust and DraftKings has grown ahead of that trend in both handle and revenue. The company’s ability to combine rising volume with improved monetization, reflected in a higher effective hold compared to last year, indicates better unit economics and scalability of its platform. When contrasted with a key competitor that is lagging in volume growth, DraftKings’ leadership in customer engagement and revenue generation strengthens the case for continued upside in its financial performance, which underpins Hickey’s Buy recommendation.
In another report released today, Citi also maintained a Buy rating on the stock with a $48.00 price target.