DraftKings (DKNG) is likely to get a welcome relief with May/June holds, Oppenheimer said in a Q2 preview note Monday.
Oppenheimer analysts said they expect the firm to report Q2 EBITDA of $40 million to $50 million above market expectations of $242 million on the back of strong May/June holds.
They also expect the company to leave 2025 guidance of $800 million to $900 million unchanged. Its Q2 results are due Aug. 6.
The report said its competencies in product development and customer acquisition will allow the firm to be a critical player in the shift in US sports betting to licensed domestic operators.
Oppenheimer kept its outperform rating with a $60 price target.
Price: 44.86, Change: +1.13, Percent Change: +2.58
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