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Based on the average brokerage recommendation (ABR), DraftKings (DKNG) should be added to one's portfolio. Wall Street analysts' overly optimistic recommendations cast doubt on the effectiveness of this highly sought-after metric. So, is the stock worth buying?
The stock has fallen nearly 30% this year on prediction market fears.
(Bloomberg) -- DraftKings Inc. reported revenue that rose 17% to $1.65 billion, slightly ahead of analysts’ estimates for $1.63 billion and said it would spend more on a new push into predictions markets. Most Read from BloombergBillionaire Duke of Westminster to Sell £700 Million of US Real Estate AssetsSony to Pay Almost $4 Billion for Bieber, Neil Young CatalogUS Fires on Iranian Targets as Trump Demands Deal From TehranIran’s President Says He Had Meeting With Injured Supreme LeaderApple’s C
Draftkings Inc (NASDAQ:DKNG) shares rose about 4% after the company reported mixed first quarter results, with stronger-than-expected revenue offset by a slight earnings miss. The online sports betting and gaming company posted revenue of $1.65 billion for the quarter ended March 31, up 17%...
Investing.com -- DraftKings Inc (NASDAQ:DKNG) reported first quarter results that exceeded profit expectations but maintained full-year guidance below analyst estimates, sending shares down 1.9% in after-hours trading Thursday.
DraftKings earnings will give investors a closer look at how the sports-betting company is approaching the rise of prediction markets.