Citizens JMP Reiterates Market Outperform Rating on DraftKings Inc. (DKNG)

Citizens JMP analyst Jordan Bender reiterated a Market Outperform rating and $54.00 price target on DraftKings Inc. (NASDAQ: DKNG).

The analyst commented, “DraftKings misses revenue and EBITDA expectations in the quarter. DKNG generated $1.4bn of revenue and $103M of EBITDA in 1Q25, -5% and -16% compared to consensus expectations, respectively. Handle increased 16%, compared to our 15% estimate, yet another quarter of negative sporting outcomes resulted in gaming margins 90 bps below expectations, but in line with our model. Overall, sports betting results were +4% compared to our estimate. Slowing handle growth in the model inherently carries slightly more risk, as it does not provide as much downside protection from game outcomes as in previous years. The CEO remained encouraged on the call, however, as underlying business fundamentals are strong, despite the volatility around sports results now materially swinging several of the prior quarters.”

For an analyst ratings summary and ratings history on DraftKings Inc. click here. For more ratings news on DraftKings Inc. click here.

Shares of DraftKings Inc. closed at $36.23 yesterday.

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