A roughly 10% pullback in DraftKings Inc.’s stock following last week’s earnings report makes for an “attractive” entry point, according to one analyst. Barclays’ Brandt Montour upgraded the stock to overweight from equal weight Friday, writing that the online-gambling company has an “underappreciated” position in the iGaming business as well as ample opportunity to capitalize on sports-betting traction.DraftKings shares DKNG, +0.22% were up 3% in Friday’s premarket action. See also: Why DraftKings bulls ar ...

Subscribers to Chart of the Week received this commentary on Sunday, February 18.The Super Bowl is, for Bengals fans particularly, mercifully over. The Big Game has been the zenith for overzealous gambling, and the 2018 U.S. Supreme Court ruling ensured that sports betting – and the tireless commercial load they bring – is here to stay. Pretty soon you’ll be inundated with March Madness betting, then NBA playoffs, then baseball, and all of a sudden we’re back to football. There’s no offseason to sports bett ...

The New York Gaming Commission just released numbers showing how New York-based sportsbooks performed during the recent Super Bowl, and the most surprising revelation is how much better one of the biggest sportsbooks did than one of its rivals.DraftKings DKNG, -7.29% made $8.8 million in revenue from $52.3 million in Super Bowl bets, while BetMGM MGM, -0.42% lost $4.8 million after taking in $10.8 million in bets.The biggest sportsbooks had the San Francisco 49ers winning the game against the Kansas City Ch ...

DraftKings shares were shrugging off the company’s latest earnings report, but bulls found plenty of reasons to cheer. As MoffettNathanson’s Robert Fishman put it, “it is not really an exaggeration to say almost everything went right for DraftKings” in 2023, and the biggest stumbling block for the company was likely adverse outcomes for some sporting events. Those negative event outcomes helped drive the company to a surprise loss in the latest quarter. Prior to that, DraftKings DKNG, +0.35% had beaten bott ...

DraftKings Inc. (NASDAQ:DKNG) Q4 2023 Earnings Conference Call February 16, 2024 8:30 AM ET Company Participants Stanton Dodge - Chief Legal Officer Jason Robins - Co-Founder, Chairman & CEO Jason Park - CFO Conference Call Participants David Katz - Jefferies Shaun Kelley - Bank of America Joe Greff - JPMorgan Robin Farley - UBS Daniel Politzer - Wells Fargo Robert Fishman - MoffettNathanson Joe Stauff - SIG Stephen Grambling - Morgan Stanley Bernard McTernan - Needham & Company Chad Beynon - Macquarie Jord ...

Super Bowl LVIII was great for ratings, averaging a record 123.7 million viewers, according to Nielsen. It also appeared to be a notable one for major betting companies. FanDuel said it ended up fielding a handle of over $307 million from over 14 million Super Bowl bets. That, the company said, was a "new high."Over 2.5 million active users made those wagers, according to FanDuel. Meanwhile, fellow betting company DraftKings said on Thursday that it had over 2.4 million customers wagering on the big game pi ...

For many sports betting companies, the Super Bowl is, well, their Super Bowl.But daily fantasy sports contest and sports betting company DraftKings is more focused on winning the lottery, announcing Thursday (Feb. 15) that it has reached an agreement to acquire Jackpocket, a leading digital lottery app in the United States, for total consideration of approximately $750 million.On Friday’s (Feb. 16) fourth-quarter 2023 earnings call, DraftKings executives told investors that they anticipated “significant cus ...

Key PointsDraftKings had a solid quarter despite missing the analysts' consensus for revenue by less than 100 bps. Adjusted margin improved and was better than expected, leading to enhanced guidance. Analysts are defending their bullish positions and helping to support the market; a rebound may come soon. 5 stocks we like better than DraftKingsThe DraftKings Inc. NASDAQ: DKNG share price fell more than 5% following the Q4 release and guidance update, and it could be bad news for investors. A 5% move is subs ...

Draftkings Inc (NASDAQ:DKNG) posted narrower full-year losses, but shares in the sports betting firm were hit as the fourth-quarter figure fell short of analysts' expectations. Per share losses for 2023  came in at US$1.73, compared to US$3.16 in 2022, Draftkings reported on Thursday. For the fourth quarter, losses per share were US$0.10 against US$0.53 a year earlier but worse than analysts’ expected US$0.06. Revenue for the three months to December of $1.23 billion surpassed expectations, rising by 44%. A ...

DraftKings (DKNG) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of $0.06. This compares to loss of $0.53 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -266.67%. A quarter ago, it was expected that this company would post a loss of $0.69 per share when it actually produced a loss of $0.61, delivering a surprise of 11.59%.Over the last four quarters, the company has surpassed consensus E ...