Truist Financial Remains a Buy on DraftKings (DKNG)

Truist Financial analyst Barry Jonas maintained a Buy rating on DraftKings (DKNG – Research Report) today. The company’s shares closed yesterday at $43.03.

According to TipRanks, Jonas is a 4-star analyst with an average return of 6.8% and a 39.30% success rate. Jonas covers the Consumer Cyclical sector, focusing on stocks such as International Game Technology, Boyd Gaming, and Everi Holdings.

In addition to Truist Financial, DraftKings also received a Buy from JMP Securities’s Jordan Bender in a report issued today. However, yesterday, Deutsche Bank maintained a Hold rating on DraftKings (NASDAQ: DKNG).

Based on DraftKings’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.23 billion and a GAAP net loss of $44.62 million. In comparison, last year the company earned a revenue of $855.13 million and had a GAAP net loss of $242.7 million

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DraftKings (DKNG) Company Description:

DraftKings is a leading gaming and digital sports entertainment company. It offers a wide range of online products, including sports betting (known as “Sportsbook”), online casino games (“iGaming”), and daily fantasy sports (“DFS”). Additionally, it provides retail sportsbook services, media content, and various consumer products. It also designs and develops software for sports betting and casino gaming.