DraftKings Inc DKNG reported downbeat first-quarter monetary outcomes after market close Thursday.
DraftKings reported first-quarter earnings of $1.41 billion, up 20% year-over-year. The earnings overall missed out on a Street agreement quote of $1.44 billion according to information from Benzinga Pro. The business reported profits per share of 12 cents, missing out on a Street agreement quote of 22 cents per share.
” Current item improvements are driving outperformance in our core worth chauffeurs, and our consumer metrics continue to be strong through a progressing macroeconomic environment,” DraftKings CEO Jason Robins stated.
The business decreased its full-year earnings assistance from a previous series of $6.3 billion to $6.6 billion to a brand-new series of $6.2 billion to $6.4 billion. The business likewise cut its full-year adjusted EBITDA assistance from a series of $900 million to $1.0 billion to a brand-new series of $800 million to $900 million.
DraftKings shares got 4.4% to trade at $37.83 on Monday.
These experts made modifications to their cost targets on DraftKings following profits statement.
- Needham expert Bernie McTernan preserved DraftKings with a Buy and decreased the cost target from $65 to $60.
- Guggenheim expert Curry Baker preserved the stock with a Buy and decreased the cost target from $61 to $60.
- Barclays expert Brandt Montour preserved DraftKings with an Obese score and cut the cost target from $50 to $48.
Thinking about purchasing DKNG stock? Here’s what experts believe:
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