{"id":214,"date":"2021-05-17T16:20:30","date_gmt":"2021-05-17T13:20:30","guid":{"rendered":"https:\/\/xxbet-company.com\/draftkings-stock-gets-modest-boost-from-cowen-upgrade\/"},"modified":"2021-05-17T16:20:30","modified_gmt":"2021-05-17T13:20:30","slug":"draftkings-stock-gets-modest-boost-from-cowen-upgrade","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/pl\/draftkings-stock-gets-modest-boost-from-cowen-upgrade\/","title":{"rendered":"DraftKings Stock Gets Modest Boost from Cowen Upgrade"},"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\">Spis tre\u015bci<\/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\/pl\/draftkings-stock-gets-modest-boost-from-cowen-upgrade\/#For_DraftKings_Stock_Market_Share_Matters\" title=\"For DraftKings Stock, Market Share Matters\">For DraftKings Stock, Market Share Matters<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/pl\/draftkings-stock-gets-modest-boost-from-cowen-upgrade\/#DraftKings_Making_Moves\" title=\"DraftKings Making Moves\">DraftKings Making Moves<\/a><\/li><\/ul><\/nav><\/div>\n<p>DraftKings (NASDAQ:DKNG) stock is trading modestly higher Monday with the help of a sell-side upgrade.<\/p>\n<figure aria-describedby=\"caption-attachment-172491\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" class=\"wp-image-172491 lazyload\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/JR-142x95.jpg?x38396\" data-src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/JR-142x95.jpg?x38396\" alt=\"DraftKings stock\" width=\"1200\" height=\"800\" data-srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/JR-142x95.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/JR-1024x682.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/JR-768x512.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/JR-1536x1024.jpg 1536w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/JR-600x400.jpg 600w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/JR.jpg 2000w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" data- title=\"\"><img loading=\"lazy\" class=\"wp-image-172491\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/JR-142x95.jpg?x38396\" alt=\"DraftKings stock\" width=\"1200\" height=\"800\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/JR-142x95.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/JR-1024x682.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/JR-768x512.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/JR-1536x1024.jpg 1536w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/JR-600x400.jpg 600w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/JR.jpg 2000w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" title=\"\"><figcaption class=\"text-description\">DraftKings CEO Jason Robins pictured above. Research firm Cowen sees appreciation coming for the stock. (Image: Getty Images)<\/figcaption><\/figure>\n<p>Cowen analyst Stephen Glagola boosted his rating on the daily fantasy sports (DFS) provider to \u201coutperform\u201d from \u201cmarket perform,\u201d while lifting his price target on the name to $70. That implies upside of 23.5 percent from the April 30 close. In his new enthusiasm for the stock, Glagola cites a familiar catalyst.<\/p>\n<blockquote class=\"main-blockquote\">\n<p><strong>Current legalization trends suggest to us that the 2H:21-FY22 period remains robust, and could result in DKNG being live in states representing up to 51.2% of the adult population by 2022 end,\u201d<\/strong> he said in a note to clients.<\/p>\n<\/blockquote>\n<p>Glagola is the second analyst in the past two trading days to come <a href=\"https:\/\/www.casino.org\/news\/draftkings-stock-offers-major-upside-says-guggenheim-analyst\/\" rel=\"nofollow noopener\" target=\"_blank\">to the rescue of DraftKings stock.<\/a> The name is mired in what\u2019s now a lengthy slump. The shares lost 7.61 percent in April and reside 23.21 percent below the 52-week high notched in March.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"For_DraftKings_Stock_Market_Share_Matters\"><\/span>For DraftKings Stock, Market Share Matters<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the fiercely competitive online sports betting industry, where operators such as DraftKings spend heavily to acquire customers, analysts and investors are scrutinizing how well those expenditures pay off in terms of market share.<\/p>\n<div class=\"callout\">\n<p>Broadly speaking, DraftKings is <a href=\"https:\/\/www.casino.org\/news\/draftkings-stock-is-slumping-but-indicators-portend-rebound\/\" rel=\"nofollow noopener\" target=\"_blank\">adept at establishing share<\/a>. Although it loses money and is unlikely to be profitable prior to 2022 or 2023, it is the second-largest US online sportsbook operator, behind only FanDuel.<\/p>\n<\/div>\n<p>\u201cIn Q1:21, we have seen state-by-state market concentration solidify around the top 4 operators, where collective OSB handle share exceeded 90% in West Virginia (99.7 percent), Indiana (92.5 percent), Iowa (92.9 percent), Illinois (98.3 percent), Michigan (90.6 percent), and Virginia (99 percent),\u201d said Cowen\u2019s Glagola, pointing out this trend is a positive for DraftKings.<\/p>\n<p>Still, there\u2019s concern that DraftKings is potentially vulnerable to ceding the number two spot to BetMGM. The 50\/50 joint venture between MGM Resorts International (NYSE:MGM) and Entain Plc (OTC:GMVHY) is fast adding market share in marquee states. It is aiming for a 2<a href=\"https:\/\/www.casino.org\/news\/mgm-stock-upside-could-be-strong-thanks-to-betmgm\/\" rel=\"nofollow noopener\" target=\"_blank\">0 percent to 25 percent overall share<\/a> of the North American iGaming and sports betting segments.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"DraftKings_Making_Moves\"><\/span>DraftKings Making Moves<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Analysts and investors primarily view DraftKings through the lens of online sports wagering. While that take is accurate, the operator has other traits that could make it appealing to investors over the long-term.<\/p>\n<p><strong>DraftKings is seen as a potential force in the world of in-game betting. The concept hasn\u2019t taken off yet in the US, but one analysts expect will morph into a major growth opportunity for operators in the years ahead.<\/strong><\/p>\n<p>Additionally, the Boston-based company has its technology operation \u2014 SBTech \u2014 in house, defraying costs associated with farming that business out to third-party vendors. DraftKings is also using acquisitions to move further <a href=\"https:\/\/www.casino.org\/news\/draftkings-teaming-up-with-meadowlark-accesses-le-batard-podcasts\/\" rel=\"nofollow noopener\" target=\"_blank\">into the media realm, <\/a>moves that diversify its product portfolio and revenue stream while possibly lowering customer acquisition costs.<\/p>\n<p>The post <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\/draftkings-stock-has-recipe-for-upside-says-cowen-analyst\/\" target=\"_blank\">DraftKings Stock Gets Modest Boost from Cowen Upgrade<\/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>DraftKings (NASDAQ:DKNG) stock is trading modestly higher Monday with the help of a sell-side upgrade. DraftKings CEO Jason Robins pictured above. Research firm Cowen sees appreciation coming for the stock. (Image: Getty Images) Cowen analyst Stephen Glagola boosted his rating on the daily fantasy sports (DFS) provider to \u201coutperform\u201d from \u201cmarket perform,\u201d while lifting his <a href=\"https:\/\/xxbet-company.com\/pl\/draftkings-stock-gets-modest-boost-from-cowen-upgrade\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":215,"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\/pl\/wp-json\/wp\/v2\/posts\/214"}],"collection":[{"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/comments?post=214"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/posts\/214\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/media\/215"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/media?parent=214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/categories?post=214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/tags?post=214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}