DraftKings Inc. (DKNG) is set to report its third-quarter earnings on Thursday, with analysts expecting strong revenue growth driven by the NFL season and new state legalizations. Key areas to watch include the company’s performance in the NFL betting market, guidance on the future of sports betting, and updates on its recent acquisition of Jackpocket.
Bank of America analyst Shaun Kelley expects DraftKings to deliver positive surprises in its third-quarter earnings report, highlighting growth opportunities in revenue expansion, hold improvement, and reduced promotional spending. However, the analyst also acknowledges concerns about app download slowdown and unfavorable NFL outcomes.
DraftKings Inc. (DKNG) stock has soared in recent weeks, driven by strong customer growth, new product features, and a bullish outlook for the online gaming industry. The company is benefiting from increased new customer sign-ups and improved product offerings like in-house player prop bets and broader progressive parlays. Despite its strong performance, DraftKings is facing challenges from rising marketing and promotional costs, which could impact short-term profitability.
The Dow Jones Industrial Average closed down on Wednesday, while the S&P 500 dipped slightly. However, the Nasdaq saw a slight gain. Meta Platforms, DraftKings, Costco, Micron Technology, and Tesla were among the top performers, attracting investor interest.
DraftKings stock is soaring, likely due to Flutter Entertainment’s positive 2027 guidance. Both companies operate in the online sports betting and iGaming sector, and Flutter’s optimistic outlook is influencing investor sentiment, pushing DraftKings shares upwards.
The Major League Baseball Players Union has filed a lawsuit against DraftKings and Bet365 for using players’ images without permission, potentially impacting the way sportsbooks market player props and the use of player names and images in advertising. The lawsuit alleges violations of Pennsylvania law and seeks damages and a stop to the use of player images.
Sportsbooks, including DraftKings, enjoyed a second consecutive week of favorable outcomes during the NFL season, as underdogs won over 50% of games. Analyst Bernie McTernan maintains a Buy rating on DraftKings, highlighting its strong market position and growth potential in the burgeoning North American online gambling market.
DraftKings, a major sports betting company, saw its app climb the app store rankings and enjoyed a successful first week of the NFL season thanks to favorable betting outcomes and the addition of the BetVision streaming service. Analyst Bernie McTernan of Needham maintains a Buy rating on DraftKings stock.
DraftKings is poised for a strong NFL season, with analyst Bernie McTernan of Needham reiterating a Buy rating and highlighting the company’s competitive advantages in promotional activity, app rankings, and market share. Despite FanDuel’s lead, DraftKings is gaining ground, particularly in the second quarter, with the potential for a strong third quarter driven by the return of NFL and NCAA Football.
DraftKings, a leading online sports betting platform, faces an uphill battle against its competitor, Flutter Entertainment, in the US market. Analysts are closely watching EBITDA targets, tax surcharges, and competition as key factors determining the future of DraftKings. Despite the challenges, analysts remain optimistic about DraftKings’ long-term prospects due to its strong technology and national marketing reach.
