DraftKings Analyst Sees Upside In Stock After NFL Week 16

  • Needham analyst Bernie McTernan managed a Get score on DraftKings Inc (NASDAQ: DKNG), with a selling price focus on of $20.00.

  • In McTernan’s weekly report all through the NFL time, the analyst tracked activity effects and their likely impression on McTernan’s protection and Apple Inc (NASDAQ: AAPL) iOS app rankings for OSB operators in the sporting activities class.

  • 7 days 16 success of the five greatest spreads Saturday & Sunday very likely suggest a negative maintain for sportsbook operators, with favorites winning in all the 5 most huge unfold video games.

  • MTD in December, along with the problematic sport final results in the NFL in October and November, possible ensures a damaging influence from hold in 4Q for OSB operators relative to a benefit in 3Q.

  • In the iOS application rankings, FanDuel held an edge around DKNG for the best spot on common for the fourth straight 7 days.

  • FanDuel has overtaken DKNG for the prime spot on average after the foremost two operators ended up in a deadlock considering the fact that 7 days 7.

  • In other places in the rankings, Barstool posted its highest common weekly order however, averaging the #19 place adhering to its prior record superior last 7 days at #23.

  • Caesars and Pointsbet also averaged their maximum weekly regular places this week, at #25 and #41, respectively.

  • McTernan saw DKNG as a leader in the emerging North American online gambling marketplace, a $35 billion marketplace possibility.

  • The analyst claimed the legislative ecosystem supports bigger sector entry as it truly is a gain-gain for shoppers and states.

  • McTernan noticed an upside to the bull situation business TAM for $50 billion, for which the analyst observed a greater probability of enjoying out than McTernan’s bear circumstance of only $18 billion.

  • Within this marketplace, McTernan thinks DKNG has a sustainable purchaser acquisition approach that really should go on to travel its very first- or 2nd-place situation in all states.

  • The analyst envisioned margins to scale with the tech stack transition to SBTech from Kambi, advantages of countrywide vs. nearby advertising, and achieving terminal industry accessibility penetration.

  • Selling price Action: DKNG shares traded reduced by 2.92% at $11.19 on the past look at Tuesday.

Most up-to-date Rankings for DKNG

Day

Agency

Action

From

To

Mar 2022

Argus Investigate

Downgrades

Get

Maintain

Feb 2022

Citigroup

Maintains

Get

Feb 2022

Roth Capital

Upgrades

Sell

Neutral

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