Bernstein Reaffirms Buy Rating on DraftKings, Citing Live Betting and Jackpocket Synergies

DraftKings Inc. (NASDAQ:DKNG) ranks among the 30 stocks expected to beat the market by 20 percentage points this year. An Outperform rating on DraftKings Inc. (NASDAQ:DKNG) with a price target of $46 was reaffirmed by Bernstein SocGen Group on June 16. The firm noted what it calls the company’s “compelling and differentiated investment case” in the context of online sports betting and iGaming.

One of DraftKings’ primary advantages, according to the firm, is its improved live pricing capabilities, which were “significantly boosted by the SimpleBet acquisition.” These capabilities, according to Bernstein, enable the company to capture significant growth in the US live betting market while delivering strong handle and profitability growth.

Additionally, the company found unrealized potential in cross-selling Jackpocket to live betting clients. One major looming driver for DraftKings Inc. (NASDAQ:DKNG) was the incorporation of Jackpocket into the company’s core platform. Bernstein’s optimistic assessment of DraftKings remains focused on user profitability, as the firm projects average revenue per user growth in the mid-single digits.

DraftKings Inc. (NASDAQ:DKNG) is a digital sports entertainment and gaming company that offers sports betting, digital lottery courier, daily fantasy sports, and other products. Additionally, it offers online casino games, including roulette, slot machines, blackjack, and baccarat.

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Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds

Disclosure: None.