DraftKings Analysts Slash Their Forecasts After Downbeat Q3 Results

Benzinga Earnings11-09 19:40

DraftKings Inc. (NASDAQ:DKNG) reported worse-than-expected third-quarter results and lowered its fiscal 2026 guidance, after the closing bell on Thursday.

DraftKings reported an adjusted loss of 53 cents per share, wider than the consensus estimate of a loss of 39 cents. The company also reported revenue of $1.329 billion, up 16% from a year earlier but, missing the consensus estimate of $1.398 billion.

“The third quarter marked a pivotal moment for DraftKings, as the Predictions offering we have been building is now powering meaningful growth for our business,” said Jason Robins, DraftKings’ CEO and co-founder. He said more than 1.6 million customers have engaged with Predictions this year.

DraftKings lowered its fiscal 2026 revenue guidance to $6.35 billion to $6.55 billion from $6.50 billion to $6.90 billion, versus the consensus estimate of $6.672 billion. For fiscal 2027, DraftKings expects revenue of $7.35 billion to $7.75 billion, versus the consensus estimate of $7.597 billion.

DraftKings shares fell 1.4% to $18.26 in pre-market trading.

These analysts made changes to their price targets on DraftKings following earnings announcement.

Stifel analyst Jeffrey Stantial downgraded the stock from Buy to Hold and lowered the price target from $32 to $21.
BTIG analyst Clark Lampen maintained the stock with a Buy and cut the price target from $26 to $23.
Needham analyst Bernie McTernan maintained the stock with a Buy and lowered the price target from $30 to $25.

Considering buying DKNG stock? Here’s what analysts think:

Photo via Shutterstock

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2682180265?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-11-09 19:40","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2682180265","market":"hk","top_or_hot":-1,"title":"DraftKings Analysts Slash Their Forecasts After Downbeat Q3 Results","media":"Benzinga Earnings","content":"<html><body><p><strong>DraftKings Inc</strong>. (NASDAQ:DKNG) reported worse-than-expected third-quarter results and lowered its fiscal 2026 guidance, after the closing bell on Thursday.</p><p>DraftKings reported an adjusted loss of 53 cents per share, wider than the consensus estimate of a loss of 39 cents. The company also reported revenue of $1.329 billion, up 16% from a year earlier but, missing the consensus estimate of $1.398 billion.</p><p>“The third quarter marked a pivotal moment for DraftKings, as the Predictions offering we have been building is now powering meaningful growth for our business,” said Jason Robins, DraftKings’ CEO and co-founder. He said more than 1.6 million customers have engaged with Predictions this year.</p><p>DraftKings lowered its fiscal 2026 revenue guidance to $6.35 billion to $6.55 billion from $6.50 billion to $6.90 billion, versus the consensus estimate of $6.672 billion. For fiscal 2027, DraftKings expects revenue of $7.35 billion to $7.75 billion, versus the consensus estimate of $7.597 billion.</p><p>DraftKings shares fell 1.4% to $18.26 in pre-market trading.</p><p>These analysts made changes to their price targets on DraftKings following earnings announcement.</p><ul>\n<li>Stifel analyst Jeffrey Stantial downgraded the stock from Buy to Hold and lowered the price target from $32 to $21.</li>\n<li>BTIG analyst Clark Lampen maintained the stock with a Buy and cut the price target from $26 to $23.</li>\n<li>Needham analyst Bernie McTernan maintained the stock with a Buy and lowered the price target from $30 to $25.</li>\n</ul><p><strong>Considering buying DKNG stock? Here’s what analysts think:</strong></p><figure><img decoding=\"async\" height=\"316\" loading=\"lazy\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" src=\"https://editorial-assets.benzinga.com/wp-content/uploads/2026/11/09063933/image-192-1024x316.png\" srcset=\"https://editorial-assets.benzinga.com/wp-content/uploads/2026/11/09063933/image-192-1024x316.png 1024w, https://editorial-assets.benzinga.com/wp-content/uploads/2026/11/09063933/image-192-300x93.png 300w, https://editorial-assets.benzinga.com/wp-content/uploads/2026/11/09063933/image-192-768x237.png 768w, https://editorial-assets.benzinga.com/wp-content/uploads/2026/11/09063933/image-192.png 1156w\" width=\"1024\"/></figure><p><em>Photo via Shutterstock</em></p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>DraftKings Analysts Slash Their Forecasts After Downbeat Q3 Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDraftKings Analysts Slash Their Forecasts After Downbeat Q3 Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga Earnings </p>\n<p class=\"h-time\">2026-11-09 19:40</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p><strong>DraftKings Inc</strong>. (NASDAQ:DKNG) reported worse-than-expected third-quarter results and lowered its fiscal 2026 guidance, after the closing bell on Thursday.</p><p>DraftKings reported an adjusted loss of 53 cents per share, wider than the consensus estimate of a loss of 39 cents. The company also reported revenue of $1.329 billion, up 16% from a year earlier but, missing the consensus estimate of $1.398 billion.</p><p>“The third quarter marked a pivotal moment for DraftKings, as the Predictions offering we have been building is now powering meaningful growth for our business,” said Jason Robins, DraftKings’ CEO and co-founder. He said more than 1.6 million customers have engaged with Predictions this year.</p><p>DraftKings lowered its fiscal 2026 revenue guidance to $6.35 billion to $6.55 billion from $6.50 billion to $6.90 billion, versus the consensus estimate of $6.672 billion. For fiscal 2027, DraftKings expects revenue of $7.35 billion to $7.75 billion, versus the consensus estimate of $7.597 billion.</p><p>DraftKings shares fell 1.4% to $18.26 in pre-market trading.</p><p>These analysts made changes to their price targets on DraftKings following earnings announcement.</p><ul>\n<li>Stifel analyst Jeffrey Stantial downgraded the stock from Buy to Hold and lowered the price target from $32 to $21.</li>\n<li>BTIG analyst Clark Lampen maintained the stock with a Buy and cut the price target from $26 to $23.</li>\n<li>Needham analyst Bernie McTernan maintained the stock with a Buy and lowered the price target from $30 to $25.</li>\n</ul><p><strong>Considering buying DKNG stock? Here’s what analysts think:</strong></p><figure><img decoding=\"async\" height=\"316\" loading=\"lazy\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" src=\"https://editorial-assets.benzinga.com/wp-content/uploads/2026/11/09063933/image-192-1024x316.png\" srcset=\"https://editorial-assets.benzinga.com/wp-content/uploads/2026/11/09063933/image-192-1024x316.png 1024w, https://editorial-assets.benzinga.com/wp-content/uploads/2026/11/09063933/image-192-300x93.png 300w, https://editorial-assets.benzinga.com/wp-content/uploads/2026/11/09063933/image-192-768x237.png 768w, https://editorial-assets.benzinga.com/wp-content/uploads/2026/11/09063933/image-192.png 1156w\" width=\"1024\"/></figure><p><em>Photo via Shutterstock</em></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1169589451.USD","symbol_name":"ALLSPRING (LUX)  U.S. SELECT EQUITY \"A\" (USD) ACC","start_time":0,"source_url":"https://www.benzinga.com/analyst-stock-ratings/price-target/26/11/63025762/draftkings-analysts-slash-their-forecasts-after-downbeat-q3-results","article_id":"2682180265","we_media_id":"1052270027","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2682180265","pubTimestamp":1794224445,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Benzinga Earnings","introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"summary":"DraftKings missed Q3 estimates, widened its loss and cut 2026 guidance. Shares fell; analysts lowered price targets, with Stifel downgrading to Hold.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1169589451.USD":"ALLSPRING (LUX)  U.S. SELECT EQUITY \"A\" (USD) ACC","BK4565":"NFT概念","BETZ":"Roundhill Sports Betting & iGaming ETF","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU1861558580.USD":"日兴方舟颠覆性创新基金B","DKNX":"2倍做多DKNG ETF-Defiance","LU1169590202.USD":"ALLSPRING (LUX)  U.S. SELECT EQUITY \"I\" (USD) ACC","LU0240878834.USD":"SCHRODER ISF GLOBAL SMALL COMPANIES \"A\" (USD) INC AV","BK4588":"碎股","DRAY":"YieldMax DKNG Option Income Strategy ETF","BK4585":"ETF&股票定投概念","BK4150":"赌场与赌博","ODDS":"Pacer BlueStar Digital Entertainment ETF","LU0240877869.USD":"SCHRODER ISF GLOBAL SMALL COMPANIES \"A\" ACC","DKUP":"2倍做多DKNG ETF-T-REX","DKNG":"DraftKings Inc."},"translate_title":"DraftKings 分析师在第三季度业绩不佳后下调了预测","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DKUP":0.6,"BETZ":0.6,"DKNG":1,"DRAY":0.6,"DKNX":0.6,"ODDS":0.6},"content_text":"DraftKings Inc. (NASDAQ:DKNG) reported worse-than-expected third-quarter results and lowered its fiscal 2026 guidance, after the closing bell on Thursday.DraftKings reported an adjusted loss of 53 cents per share, wider than the consensus estimate of a loss of 39 cents. The company also reported revenue of $1.329 billion, up 16% from a year earlier but, missing the consensus estimate of $1.398 billion.“The third quarter marked a pivotal moment for DraftKings, as the Predictions offering we have been building is now powering meaningful growth for our business,” said Jason Robins, DraftKings’ CEO and co-founder. He said more than 1.6 million customers have engaged with Predictions this year.DraftKings lowered its fiscal 2026 revenue guidance to $6.35 billion to $6.55 billion from $6.50 billion to $6.90 billion, versus the consensus estimate of $6.672 billion. For fiscal 2027, DraftKings expects revenue of $7.35 billion to $7.75 billion, versus the consensus estimate of $7.597 billion.DraftKings shares fell 1.4% to $18.26 in pre-market trading.These analysts made changes to their price targets on DraftKings following earnings announcement.\nStifel analyst Jeffrey Stantial downgraded the stock from Buy to Hold and lowered the price target from $32 to $21.\nBTIG analyst Clark Lampen maintained the stock with a Buy and cut the price target from $26 to $23.\nNeedham analyst Bernie McTernan maintained the stock with a Buy and lowered the price target from $30 to $25.\nConsidering buying DKNG stock? Here’s what analysts think:Photo via Shutterstock","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-1","news_tag":"express","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.53.0","shortVersion":"4.53.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2682180265","isCrawlerRequest":true}