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Bernie McTurna

Bernie McTurna

Senior Research Analyst at Needham & Company LLC

New York, NY, US

Bernie McTernan is a Senior Research Analyst at Needham & Company LLC, specializing in Internet and Consumer Technology equities and covering major firms such as DraftKings, Compass, Peloton, and more, with a total coverage of over 40 public companies. He has delivered a 52.4% success rate and an average return of approximately 10.9% on his stock recommendations in recent years, according to analyst performance tracking services. McTernan began his equity research career at Morgan Stanley, later working on the buyside at PineView Asset Management and then as a Senior Analyst at Rosenblatt Securities before joining Needham in 2021. As a CFA charterholder, he brings more than a decade of equity research expertise along with securities industry credentials.

Career History

OrganizationRoleDate Range
Needham & CompanySenior Analyst Internet and Consumer TechMar 2021 to Present
Rosenblatt SecuritiesManaging DirectorFeb 2021 to Mar 2021
Rosenblatt SecuritiesDirectorJan 2020 to Mar 2021
Rosenblatt SecuritiesVice PresidentFeb 2019 to Jan 2020
Morgan StanleyAssociate Equity ResearchAug 2013 to Apr 2014
Morgan StanleyJunior Associate Equity ResearchJul 2010 to Aug 2013
Janney Montgomery ScottSummer AnalystJun 2008 to Aug 2008
PineView Asset ManagementResearch AnalystApr 2014 to Feb 2019
Diamondback CapitalSummer AnalystJun 2009 to Aug 2009

Education

Hobart and William Smith Colleges

Bachelor of Arts, Economics

2006 — 2010

Bernie McTurna's questions to DraftKings (DKNG) leadership

Question · Q3 2025

Bernie McTurna asked about the nature of the competitive battle in prediction markets, drawing parallels to daily fantasy sports where capital, marketing, and liquidity mattered, and online sports betting where product features became key. He also asked about the risk of prediction markets evolving into a promo-driven battle.

Answer

Jason Robins, Co-founder and CEO of DraftKings, explained that for exchanges, the battle will be for liquidity, similar to daily fantasy sports. For front-end FCMs/IBs, it's about customer acquisition cost versus LTV generation, focusing on marketing, engagement, retention, and monetization. Since DraftKings will have both pieces (via Railbird acquisition), they must consider both. He noted that vertical integration will shape how these dynamics evolve.

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