Unfavorable Sports Outcomes Have Negatively Affected DraftKings' Outlook: Analyst
1. Needham maintains a Buy rating on DKNG with a $65 price target. 2. DKNG reported Q1 revenue of $1.41B, missing estimates of $1.44B. 3. Full-year revenue guidance was lowered to $6.2B-$6.4B from $6.3B-$6.6B. 4. DKNG’s online sports betting handle grew by 16%, outperforming competitors. 5. Product enhancements in in-play betting are boosting DKNG's performance.