DraftKings (DKNG – Research Report), the Consumer Cyclical sector company, was revisited by a Wall Street analyst today. Analyst Bernie McTernan from Needham reiterated a Buy rating on the stock and has a $65.00 price target.
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Bernie McTernan has given his Buy rating due to a combination of factors suggesting a positive outlook for DraftKings. The recent increase in the stock price, significantly outpacing the broader market, indicates growing investor confidence in DraftKings’ ability to meet its 2025 earnings guidance.
McTernan’s optimism is further bolstered by the acceleration of online sports betting trends in the first quarter and favorable sports outcomes, which are likely to support the company’s financial targets. Achieving the 2025 earnings guide is expected to place DraftKings on a promising path for substantial growth in adjusted metrics.
In another report released today, Barclays 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.