PENN - DraftKings A Winner In Sports Betting Sector Analysts Expect Momentum To Continue | Benzinga
Sports betting company DraftKings Inc (NASDAQ: DKNG) continues to get strong ratings from analysts with the NCAA Football and NFL seasons in full swing.
Analysts look at app rankings, promotional activity and visit the company’s Boston headquarters to get a feel of what’s happening now and what’s ahead.
Needham on DraftKings: DraftKings' rivals are stepping up efforts to gain new customers and market share.
Needham's Bernie McTernan, who has a Buy rating on DraftKings and a $44 price target, notes that several companies increased promotion activity in the third week of the NFL's 2023-2024 season.
"We observed new customer offers modestly more aggressive from CZR, Fanatics and PointsBet. All three moved to using bonus bets, a similar tactic from BetMGM,” McTernan said.
Fanatics and its newly acquired PointsBet both have promotions based on the first 10 days of use — a move that could look to increase retention.
Meanwhile, Flutter Entertainment's (OTC: PDYPY) FanDuel jumped from fifth to second among sports apps. DraftKings is currently in third place for the week.
FanDuel passed DraftKings in the app store rankings last year as well, only it was during the fourth week of ...