{"id":413,"date":"2021-06-29T03:19:28","date_gmt":"2021-06-29T00:19:28","guid":{"rendered":"https:\/\/xxbet-company.com\/draftkings-positioned-to-beat-q2-revenue-estimates-says-analyst\/"},"modified":"2021-06-29T03:19:28","modified_gmt":"2021-06-29T00:19:28","slug":"draftkings-positioned-to-beat-q2-revenue-estimates-says-analyst","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/ja\/draftkings-positioned-to-beat-q2-revenue-estimates-says-analyst\/","title":{"rendered":"DraftKings Positioned to Beat Q2 Revenue Estimates, Says Analyst"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_34 counter-flat ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">\u76ee\u6b21<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/xxbet-company.com\/ja\/draftkings-positioned-to-beat-q2-revenue-estimates-says-analyst\/#DraftKings_Forecast\" title=\"DraftKings Forecast\">DraftKings Forecast<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/ja\/draftkings-positioned-to-beat-q2-revenue-estimates-says-analyst\/#It_Could_Take_a_Lot\" title=\"It Could Take a Lot\">It Could Take a Lot<\/a><\/li><\/ul><\/nav><\/div>\n<p>If state data is any indication, DraftKings (NASDAQ:DKNG) is poised to top second-quarter revenue estimates. That\u2019s the view of Loop Capital analyst Daniel Adam.<\/p>\n<figure aria-describedby=\"caption-attachment-177683\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" class=\"wp-image-177683 lazyload\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/dkng-142x96.jpg?x38396\" data-src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/dkng-142x96.jpg?x38396\" alt=\"draftkings revenue\" width=\"1200\" height=\"813\" data-srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/dkng-142x96.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/dkng-1024x694.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/dkng-768x521.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/dkng.jpg 1440w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" data- title=\"\"><img loading=\"lazy\" class=\"wp-image-177683\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/dkng-142x96.jpg?x38396\" alt=\"draftkings revenue\" width=\"1200\" height=\"813\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/dkng-142x96.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/dkng-1024x694.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/dkng-768x521.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/dkng.jpg 1440w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" title=\"\"><figcaption class=\"text-description\">A staffer works on a laptop at DraftKings\u2019 Boston headquarters. An analyst says the company will beat Q2 revenue estimates. (Image: <em>Boston Globe<\/em>)<\/figcaption><\/figure>\n<p>In a note out earlier this week, Adam evaluated data from states that DraftKings is live in that recently reported monthly gross gaming revenue (GGR) and adjusted gaming (AGR). He pointed out that the sportsbook operator is trending toward a beat of revenue estimates for the April through June period.<\/p>\n<blockquote class=\"main-blockquote\">\n<p><strong>In other words, based on the latest monthly GGR and AGR data releases, we expect another \u2018beat and raise\u2019 quarter from our top pick, Buy-rated DKNG,\u201d<\/strong> said the analyst.<\/p>\n<\/blockquote>\n<p>He analyzed recent AGR and GGR reports from Illinois, Indiana, Iowa, Michigan, New Jersey, and Pennsylvania. DraftKings is also live with online sports betting in Colorado, New Hampshire, Tennessee, Virginia, and West Virginia.<\/p>\n<p>Adam <a href=\"https:\/\/www.casino.org\/news\/draftkings-stock-could-get-big-lift-from-new-york-says-loop-capital\/\" rel=\"nofollow noopener\" target=\"_blank\">reiterated a \u201cbuy\u201d rating<\/a> and a $105 price target on DraftKings stock. That forecast implies the shares will more than double from the June 24 close of $51.06.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"DraftKings_Forecast\"><\/span>DraftKings Forecast<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Loop capital analyst estimates DraftKings daily revenue is down just 11 percent on a quarter-to-date basis, well above the 23 percent decline other analysts are calling for.<\/p>\n<div class=\"callout\">\n<p>Some sluggishness in April through June period is predictable for sportsbook operators because football \u2014 the most wagered-on sport in the US, is out of season. Additionally, there\u2019s no college basketball, and the NBA and NHL seasons are winding down. For the current quarter, analysts expect DraftKings to lose 57 cents a share on revenue of $241.82 million. In its four prior earnings reports as a public company, the operator missed earnings per share (EPS) estimates each time.<\/p>\n<\/div>\n<p>Even if the daily fantasy sports (DFS) giant does beat second-quarter estimates, there are no guarantees the stock will react in a positive fashion. Last month, the Boston-based company <a href=\"https:\/\/www.casino.org\/news\/draftkings-stock-extends-slide-despite-q1-beat-upped-guidance\/\" rel=\"nofollow noopener\" target=\"_blank\">lifted its 2021 revenue<\/a> forecast to $1.05 billion to $1.15 billion from prior estimates of $900 million to $1 billion. However, the shares subsequently slumped.<\/p>\n<p>The once-hot stock is off 31.35 percent from its March highs. But it\u2019s higher by almost 4% over the past week, helped by Loop\u2019s note and expectations the company will be one of <a href=\"https:\/\/www.casino.org\/news\/canada-single-game-sports-betting-seen-lifting-score-media-others\/\" rel=\"nofollow noopener\" target=\"_blank\">the winners as single-game<\/a> betting comes to Canada.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"It_Could_Take_a_Lot\"><\/span>It Could Take a Lot<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Assuming DraftKings beats and guides higher as Loop Capital\u2019s Adam is predicting will happen, it could take an epic topping of second-quarter estimates and major raise to 2021 guidance to move the stock.<\/p>\n<p>Recently, an array of iGaming and online sportsbook companies <a href=\"https:\/\/www.casino.org\/news\/penn-national-stock-gets-needed-boost-on-bullish-q2-revenue-guidance\/\" rel=\"nofollow noopener\" target=\"_blank\">upped 2021 guidance<\/a>, and in nearly every instance, the stocks subsequently continued lower.<\/p>\n<p><strong>For DraftKings, rallying on an earnings report might not boil down to beating revenue. But rather, showing investors it\u2019s becoming more prudent with marketing spending and that its timeline to profitability is narrowing. That, however, remains to be seen.<\/strong><\/p>\n<p>The post <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\/draftkings-likely-to-beat-q2-revenue-estimates-says-analyst\/\" target=\"_blank\">DraftKings Positioned to Beat Q2 Revenue Estimates, Says Analyst<\/a> appeared first on <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\" target=\"_blank\">Casino.org<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>If state data is any indication, DraftKings (NASDAQ:DKNG) is poised to top second-quarter revenue estimates. That\u2019s the view of Loop Capital analyst Daniel Adam. A staffer works on a laptop at DraftKings\u2019 Boston headquarters. An analyst says the company will beat Q2 revenue estimates. (Image: Boston Globe) In a note out earlier this week, Adam evaluated data from states that DraftKings is live in that recently reported monthly gross gaming revenue (GGR) and adjusted gaming (AGR). He pointed out that the sportsbook operator is trending toward a beat of revenue estimates for the April through June period. In other words, based on the latest monthly GGR and AGR data releases, <a href=\"https:\/\/xxbet-company.com\/ja\/draftkings-positioned-to-beat-q2-revenue-estimates-says-analyst\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":414,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/posts\/413"}],"collection":[{"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/comments?post=413"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/posts\/413\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/media\/414"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/media?parent=413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/categories?post=413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/tags?post=413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}