{"id":35853,"date":"2023-07-14T21:36:51","date_gmt":"2023-07-15T01:36:51","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/draftkings-price-target-raised-at-several-wall-street-firms-shares-gain\/"},"modified":"2023-07-14T21:36:53","modified_gmt":"2023-07-15T01:36:53","slug":"draftkings-price-target-raised-at-several-wall-street-firms-shares-gain","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=35853","title":{"rendered":"DraftKings price target raised at several Wall Street firms, shares gain"},"content":{"rendered":"
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\u00a9 Reuters DraftKings price target raised at several Wall Street firms, shares gain<\/span>
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DraftKings (NASDAQ:) shares gained more than 2% today after three Wall Street firms raised their price targets on the company.<\/p>\n

Guggenheim raised its price target to $36.00 from $32.00 while maintaining a Buy rating and updating its revenue and EBITDA estimates ahead of the upcoming Q2\/23 earnings, scheduled on Aug 4.<\/p>\n

The firm estimates Q2 revenue at $757 million (up from $722M) and EBITDA at $17M (up from $7M) based on an improved product mix, robust Q2 app download and MAU data, ongoing cost management, and effective customer retention in iGaming and OSB.<\/p>\n

JMP Securities raised the price target on the company to $33.00 from $31.00 while maintaining a Market Outperform rating, highlighting that the results from online gaming in Q2 were incrementally positive, bolstered by improvement in industry hold, a steady iGaming sector, and low promotional spend.<\/p>\n

The firm anticipates robust Q2 revenue growth, with a 55% year-over-year increase in U.S. sports betting revenue and a 21% increase in iGaming.<\/p>\n

BTIG raised the price target to $34.00 from $31.00 while maintaining a Buy rating.<\/p>\n

The firm adjusted its estimates to reflect strong GGR reports and a late September Kentucky sports betting launch. They expect Q2 revenue of $819M, compared to the consensus estimate of $716.85M.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters DraftKings price target raised at several Wall Street firms, shares gain DraftKings (NASDAQ:) shares gained more than 2% today after three Wall Street firms raised their price targets on the company. Guggenheim raised its price target to $36.00 from $32.00 while maintaining a Buy rating and updating its revenue and EBITDA estimates ahead […]<\/p>\n","protected":false},"author":1,"featured_media":35854,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-35853","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nDraftKings price target raised at several Wall Street firms, shares gain | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters DraftKings price target raised at several Wall Street firms, shares gain DraftKings (NASDAQ:) shares gained more than 2% today after three Wall\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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