DraftKings Inc Reports Record Quarter, Raises Fiscal Year Guidance
DraftKings Inc has announced a record quarter, with revenue growth exceeding expectations. The company’s financial performance is as follows:
- Revenue: $1.4 billion (up 25% from the same quarter last year)
- Net income: $150 million (up 30% from the same quarter last year)
The company’s strong performance has led to a series of positive analyst updates. Several firms have raised their price targets and maintained buy ratings, including:
- Guggenheim: raised price target to $60 per share
- Susquehanna: raised price target to $55 per share
- Needham: maintained buy rating and price target of $50 per share
The company’s stock price has responded positively to the news, with a notable increase in value. DraftKings is now seen as a leader in the mobile gaming space, with its strong financials and strategic initiatives driving its success.
Key Highlights
- Revenue growth of 25% year-over-year
- Net income growth of 30% year-over-year
- Several analyst firms raise price targets and maintain buy ratings
- Company’s stock price experiences notable increase in value