Bernstein Lowers Price Target for DraftKings (DKNG) Amid Positiv

Bernstein Lowers Price Target for DraftKings (DKNG) Amid Positivity

Analyst Adjustment

Bernstein analyst Ian Moore reaffirmed an Outperform rating for DraftKings (DKNG) but reduced the price target from $55.00 to $50.00, marking a 9.09% decline in anticipated stock value. The adjustment indicates a recalibration of expectations rather than a loss of confidence.

Bernstein maintains an Outperform rating for DraftKings (DKNG) but lowers the price target from $55.00 to $50.00.

Market Perspective

Despite the revised target, Bernstein’s outlook remains positive, signaling continued belief in DraftKings’ growth potential. Analysts across the sector hold generally favorable views, though they acknowledge evolving market conditions and projections.

Company Overview

DraftKings was founded in 2012 as a pioneer in daily fantasy sports. After the 2018 Supreme Court decision permitting states to legalize online sports betting, the company expanded into both sports and casino wagering. Today, it typically ranks second or third in revenue share among competing states.

Active in 28 U.S. states for online or retail sports betting
Operating i-gaming in 5 states
Combined products accessible to roughly 40% of Canada’s population

Revenue Distribution (2024)

Sports: 61% of total revenue
I-gaming: 32%
Fantasy and lottery: 7%

Additional Ventures

The company has diversified its portfolio through a non-fungible token marketplace and by developing and licensing online gaming solutions, reinforcing its presence in the broader digital entertainment sector.

Author’s Summary

Bernstein’s rating reaffirms market trust in DraftKings, with only modest price adjustments reflecting realistic expectations for the company’s evolving performance.

GuruFocus — 2025-11-03