Procore stock price target raised to $90 from Goldman Sachs on stabilizing growth
Investing.com - BMO Capital lowered its price target on DraftKings Inc. (NASDAQ:DKNG) to $63 from $65 while maintaining an Outperform rating and Top-Pick designation. The stock currently trades at $30.57, down 17.8% year-to-date and near its 52-week low of $29.64.
The firm cited several near-term challenges facing the sports betting company, including prediction markets, NBA betting scandals, and unfavorable sports outcomes in September.
BMO reduced its third-quarter 2025 revenue estimate by 14% ($200 million) to $1.26 billion due to soft sports outcomes in September. Despite these concerns, the overall analyst consensus remains a Strong Buy, with price targets ranging from $30 to $69.
Despite these headwinds, BMO analyst Brian J. Pitz stated that the long-term opportunity for DraftKings "remains essentially unchanged" and believes that fears around prediction markets are "overblown" given DraftKings’ recent acquisition and the structural advantages of online sports betting. The company is set to report earnings on November 6 and has demonstrated strong revenue growth of 25.8% over the last twelve months.InvestingPro analysis indicates the stock is currently in oversold territory, which could present an opportunity for investors looking past short-term volatility.
BMO views DraftKings shares as attractively valued at approximately 12.5 times the company’s estimated 2026 free cash flow, despite potential regulatory threats regarding betting limits and available inventory. This assessment aligns with InvestingPro’s Fair Value analysis, which suggests the stock is currently undervalued compared to its fundamentals.For deeper insights into DraftKings’ financial health and growth prospects, check out the comprehensive Pro Research Report available for this and 1,400+ other US equities on InvestingPro.
In other recent news, DraftKings Inc. has made several notable announcements and adjustments. The company appointed Gregory W. Wendt, a former partner at Capital Group Companies, to its Board of Directors, effective October 24, 2025. This appointment includes his role on the Board’s Nominating and Corporate Governance Committee. In terms of analyst activity, Stifel has lowered its price target for DraftKings to $50 from $51, while maintaining a Buy rating, citing a strong free cash flow trajectory and positive product execution. Benchmark also reiterated a Buy rating with a $43 price target, despite expecting DraftKings to face challenges in the third quarter due to weak hold and high promotional expenses. Additionally, DraftKings announced the acquisition of Railbird Technologies and its subsidiary, Railbird Exchange, enhancing its position in the predictions market space, though the financial terms were not disclosed. Citizens maintained its Market Outperform rating and $51 price target, despite anticipating a weak upcoming quarterly performance, with potential shortfalls in sports betting and iGaming revenue. These developments indicate active strategic and financial maneuvers by DraftKings amid varying analyst perspectives.
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