Craig-Hallum raised the firm’s price target on DraftKings to $40 from $35 and keeps a Buy rating on the shares. Despite high expectations into the print, DraftKings didn’t disappoint, the firm says. Craig-Hallum’s call remains the same as last quarter – the company and stock have momentum, and it thinks both continue. DraftKings is taking market share at an accelerated rate and flowing more of that through to the bottom line with an added focus on cost efficiencies, which was highlighted by its first quarter of positive adjusted EBITDA, the firm adds.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on DKNG:
- DraftKings price target raised to $40 from $39 at Susquehanna
- DraftKings price target raised to $37 from $35 at TD Cowen
- DraftKings price target raised to $39 from $33 at JMP Securities
- DraftKings upgraded to Overweight from Equal Weight at Wells Fargo
- DraftKings price target raised to $42 from $38 at Jefferies
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue