Bernstein Lowers Price Target for DraftKings (DKNG) Amid Positiv

Bernstein Lowers Price Target for DraftKings (DKNG)

Bernstein analyst Ian Moore reiterated an Outperform rating on DraftKings (DKNG) but lowered the price target from $55.00 to $50.00, marking a 9.09% decrease in expected stock value. Despite this adjustment, the Outperform rating indicates continued confidence in DraftKings' market potential.

Analyst Perspectives and Market Outlook

DraftKings continues to receive positive evaluations from multiple analysts, reflecting a mix of optimism and recalibrated market expectations. Investors are advised to watch ongoing developments closely, as they may influence stock performance.

Company Background and Market Position

Founded in 2012 as a pioneer in daily fantasy sports, DraftKings expanded into online sports and casino gambling after a 2018 Supreme Court ruling legalized sports wagering across various states. Currently, DraftKings holds roughly the second or third revenue share in the states where it operates.

Active in online or retail sports betting across 28 states.
Operates i-gaming in 5 states.
Offers products to about 40% of Canada’s population.

Revenue Breakdown in 2024

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

The company also manages a commission-based marketplace for non-fungible tokens (NFTs) and develops and licenses online gaming products.

Bernstein analyst Ian Moore said, "The Outperform rating suggests ongoing confidence in DraftKings' ability to capitalize on its market opportunities despite the price target adjustment."

Bernstein's update highlights sustained optimism for DraftKings amid market shifts, even though the stock price expectations have been slightly tempered.

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GuruFocus — 2025-11-03