IGM Biosciences upgraded to Outperform from Neutral at Wedbush 07:03 IGMS
Nikola downgraded to Neutral from Buy at BTIG 05:16 NKLA BTIG analyst Gregory Lewis downgraded Nikola to Neutral from Buy without a price target following the company's Q3 results. The quarter helped push the stock up 21% on the day and to its highest level since July, Lewis tells investors in a research note. The analyst likes Nikola's long-term story but with the stock up 50% over the last month he downgrades the shares on valuation. Lewis sees the potential for the hydrogen side of the business to be worth upwards of $30 per share as a standalone business, but is "waiting for more tangible signs of execution."
DraftKings falls after low hold rate on NFL games contributes to revenue miss
Nov. 05, 2021 7:42 AM ET DraftKings Inc. (DKNG)
Nikola downgraded to Neutral from Buy at BTIG 05:16 NKLA BTIG analyst Gregory Lewis downgraded Nikola to Neutral from Buy without a price target following the company's Q3 results. The quarter helped push the stock up 21% on the day and to its highest level since July, Lewis tells investors in a research note. The analyst likes Nikola's long-term story but with the stock up 50% over the last month he downgrades the shares on valuation. Lewis sees the potential for the hydrogen side of the business to be worth upwards of $30 per share as a standalone business, but is "waiting for more tangible signs of execution."
DraftKings falls after low hold rate on NFL games contributes to revenue miss
Nov. 05, 2021 7:42 AM ET DraftKings Inc. (DKNG)
- DraftKings(NASDAQ:DKNG)reports 60% revenue growth forQ3as fundamental user acquisition, retention and engagement trends during the quarter were strong across all of the online gaming products.
- Monthly unique payers increased by 31% and average revenue per monthly unique payer grew by 38%. ARPMUP benefitted from continued mix shift into sportsbook and iGaming product offerings, cross selling customers into more products and stronger engagement within product verticals. Of note, the company appears to have had a stretch of bad luck with NFL games during the quarter. "On a same state basis and taking into consideration lower than expected hold primarily due to NFL game outcomes, third quarter revenue would have been $40 million higher," updates DKNG. The top line revenue miss to the consensus estimate was about $25M.