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Investing.com - Citizens JMP analyst Jordan Bender has reiterated a Market Outperform rating and $54.00 price target on DraftKings Inc. (NASDAQ:DKNG), aligning with the broader analyst consensus that remains bullish on the stock. With analyst targets ranging from $39.50 to $78.00, the company currently commands a market capitalization of $23.12 billion.
The reaffirmation comes amid what the firm describes as the most robust prediction market news cycle in the real money gaming space in seven years, occurring last week. The company’s strong positioning is reflected in its impressive 25.8% revenue growth over the last twelve months. According to InvestingPro, which offers 11 additional key insights about DKNG, analysts expect continued sales growth in the current year.
Several significant developments were noted, including Underdog becoming the first real money gaming operator to enter the prediction space through a partnership with Crypto.com.
Kalshi has emerged as the volume leader in the U.S. prediction market at the start of football season, reportedly handling approximately 10 times more volume than the next operator at the NFL season opening.
Citizens JMP suggests that tracking pricing across Kalshi’s contracts will serve as a key indicator of the company’s ability to deliver a comparable or superior product versus major sports betting operators like market leaders DraftKings and FanDuel (FLUT).
In other recent news, DraftKings Inc. has reported several notable developments. The company has been granted a direct mobile sports betting license by the Missouri Gaming Commission, enabling it to operate independently across the state. This license is one of only two available in Missouri and positions DraftKings for a launch on December 1, 2025, pending regulatory approvals. Furthermore, BMO Capital has reiterated its Outperform rating for DraftKings, maintaining a $65.00 price target, highlighting the company’s strong position in the sector. Benchmark also continues to support DraftKings with a Buy rating and a $53.00 price target, noting the competitive landscape in prediction markets against rivals like FanDuel. Additionally, recent data from New York’s online sports betting scene showed a significant increase in handle growth, attributed to a major player who wagered $119 million, accounting for 26% of the state’s total handle. These developments suggest DraftKings is actively expanding its market presence and maintaining strong analyst support.
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