08:35 AM EDT, 05/10/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our target price by $2 to $50, based on 4x our 2025 sales estimate and between the company's three- and five-year average price/sales multiple. We maintain our 2025 and 2026 EPS estimates of $0.50 and $0.75, respectively. DKNG posted normalized Q1 EPS of $0.12 vs. $0.03, in line with consensus estimates on revenues of $1.41B vs. $1.17B and $17M below estimates. Monthly Unique Players (MUP) increased 28% Y/Y to 4.3M while Average Revenue Per MUP (ARPMUP) decreased 5% to $108. Excluding the impact of its acquisition of Jackpocket, MUP increased 11% and ARPMUP increased 7%. The company now expects full-year revenues between $6.2B and $6.4B, which represents 32% growth at the midpoint and adjusted EBITDA between $800M and $900M, which is $100M lower than the previous guidance. Like others in the industry, management cited customer-friendly results in the quarter. We believe DKNG has the best mobile platform and expect share gains as the industry consolidates.