Unfavorable Sports Outcomes Have Negatively Affected DraftKings' Outlook: Analyst

Needham analyst Bernie McTernan maintained a Buy rating on DraftKings Inc. DKNG and reiterated the $65 price forecast following the first quarter results reported on Thursday.The company reported first-quarter revenue of$1.41 billion, which missed a Street consensus estimate of $1.44 billion, and earnings per share of 12 cents, which missed a Street consensus estimate of 22 cents per share.The company lowered its full-year revenue guidance from$6.3 billion to $6.6 billion to a new range of$6.2 billion to ...