JMP Reaffirms Market Outperform Rating On DraftKings (DKNG)

DraftKings Inc. (NASDAQ:DKNG) is one of the best meme stocks. On July 29, JMP Securities analyst Jordan Bender maintained a Market Outperform rating on DKNG, assigning a price target of $50.

The $50 price target is based on a mix of different measures to estimate how the sports betting company will perform in the future. The firm explained that DraftKings’ valuation incorporated a 17.5x estimate of its 2026 EBITDA.

The analysis also factors in 18x the company’s estimated 2026 FCF for the online gambling business.

DraftKings Inc. (NASDAQ:DKNG) is a digital sports and gaming company operating in the United States and internationally. It provides online sports betting, daily fantasy sports, online casino games, retail sportsbooks, gaming software, and a marketplace for digital collectibles and NFTs.

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