Argus raised the firm’s price target on DraftKings to $46 from $40 and keeps a Buy rating on the shares. The analyst states that the legalization of online sports betting in additional states will boost the company’s revenue to $3.2B in 2023 from $2.2B in 2022, while also noting that the declining customer acquisition costs bode well for the company’s long-term growth. Argus is narrowing its 2023 loss estimate to (96c) per share from ($1.50) and its 2024 loss estimate (20c) per share from (60c), also forecasting that DraftKings will report its first profitable year in 2025.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on DKNG:
- Bet On It: Bragg Gaming surges following investor push for sale
- Sports Betting Interest Rises Ahead of Thanksgiving Weekend
- Cathie Wood’s ARK Investment sold 85K shares of DraftKings today
- DraftKings price target raised to $45 from $39 at JPMorgan
- DraftKings participates in a conference call with Benchmark