Canaccord analyst Michael Graham raised the firm’s price target on DraftKings to $46 from $42 and keeps a Buy rating on the shares. The firm said they reported another set of very impressive results, with both revenue and profitability coming in well ahead of consensus in Q3 as investments the company has made over recent years to strengthen its organization and enhance its product offering continue to drive market share gains.
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Read More on DKNG:
- DraftKings (NASDAQ:DKNG): Roll the Dice on a Speculative Growth Stock
- DraftKings Stock (NASDAQ:DKNG) Gains on Strong Q3 Results
- DraftKings sees FY24 revenue $4.5B-$4.8B, consensus $4.29B
- DraftKings raises FY23 revenue view to $3.67B-$3.72B from $3.46B-$3.54B
- DraftKings reports Q3 EPS (61c), consensus (70c)