Jason Robins recently highlighted<\/a>. The analyst said his proprietary model indicates soaring in interest in live wagering, and that the activity drives social engagement among bettors. He notes that in-game betting \u201cdrives higher revenues\u201d and \u201cdouble hold\u201d percentages. Hold percentage is the amount an operator retains from gameplay.<\/p>\nPath to Profitability<\/h2>\n
Katz also points out that attitudes toward sports wagering and iGaming are becoming more positive, meaning politicians face easier sells in terms of passing related legislation as avenues for generating more revenue.<\/p>\n
The analyst adds DraftKings should be cash flow positive and profitable on the basis of earnings before interest, taxes, depreciation and amortization (EBITDA) by 2023<\/strong>.<\/p>\nHis $55 price target implies upside of 32.5 percent from where the stock trades at this writing.<\/p>\n","protected":false},"excerpt":{"rendered":"
DraftKings (NASDAQ:DKNG) continues winning support from sell-side analysts, as Jefferies’ David Katz today initiates coverage of the sportsbook operator with a \u201cbuy\u201d rating and price forecast of $55, the highest on Wall Street. Katz notes that the US online sports betting market \u2013 one of DraftKings’ core businesses \u2013 is in the early innings of […]<\/p>\n","protected":false},"author":46,"featured_media":139388,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,1074],"tags":[],"acf":[],"yoast_head":"\n
DraftKings Lures Bullish Sell-Side Call With Highest Price Forecast Yet<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n