Analyst Steven Sheeckutz from Citi maintained a Buy rating on DraftKings (DKNG – Research Report) and increased the price target to $65.00 from $59.00.
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Steven Sheeckutz has given his Buy rating due to a combination of factors including DraftKings’ strong start to 2025, with January and February performance surpassing expectations. This positive trend has led to a modest increase in the company’s revenue outlook for 2025, suggesting potential growth if these trends continue.
Another reason for the Buy rating is DraftKings’ focus on enhancing its live betting offerings, which are expected to drive further growth as the US market catches up with more mature markets like Europe. Additionally, the company’s share repurchase program and new disclosures provide further confidence in its financial positioning and potential for continued value creation.
In another report released on February 14, Canaccord Genuity also maintained a Buy rating on the stock with a $60.00 price target.
Based on the recent corporate insider activity of 146 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DKNG in relation to earlier this year.