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2024 Undervalued / Overvalued: Wide Receivers



By Michael O'Hara | 8/9/24 |

The sheer number of fantasy-relevant wide receivers can make the position tricky to navigate. With 60-plus names for drafters to consider, parsing through each player's fantasy outlook is time-consuming and difficult. At the end of the day, drafters must determine how they value each receiver, within the wide receiver market and the draft market as a whole.

Overvaluing a receiver and drafting them too early can be detrimental to a fantasy team’s success. On the other hand, grabbing the right sleeper or breakout candidate can create a roster that is capable of contending for championships. The goal should be to avoid the overvalued players while pinpointing and jumping on the undervalued options.

After pouring through the wide receiver market, here are two receivers to target and two receivers to avoid at their current cost.

Note: ADP based on PPR scoring

Undervalued

Rashid Shaheed, New Orleans Saints
ADP: 12.12, WR63

Through two NFL seasons, Rashid Shaheed has found success as a downfield threat. His 4.30 speed often paralyzes defensive backs and he is able to blow right by them. Last season, Shaheed posted an impressive seven receptions of 40-plus yards. He also made contributions in the return game, taking a punt 76 yards to the house.

But in his third NFL season, Shaheed is poised to break out in a big way thanks to a new, expanded role within the Saints offense. To this point, Shaheed has largely been a part-time player. Last season, he played just 46 percent of snaps. But all reports from Saints’ training camp indicate that Shaheed is expected to be a full-time receiver in 2024. He was given the opportunity to handle the majority of snaps on a few occasions last season and succeeded in those opportunities. In six games where he played at least 80 percent of snaps, Shaheed cleared 15 fantasy points (PPR) three times.

Shaheed also stands to benefit from a significant scheme change in New Orleans. Pete Carmichael’s archaic offense will be replaced by Klint Kubiak’s scheme which should run play-action and utilize motion at a higher rate. They ranked towards the bottom of the league in usage of both of these concepts last season. Kubiak’s offense should also create schemed looks for Shaheed where he will get into space and have the chance to use his YAC abilities.

The New Orleans offense as a whole could take a step forward under Kubiak. This includes Shaheed who is a phenomenal investment as the WR63 in drafts.

Diontae Johnson, Carolina Panthers
ADP: 8.06, WR39

It seems that people are turned off by a disappointing year from Diontae Johnson despite displaying the fact that he is still an immensely talented receiver. Johnson was the per-game WR39 with the Steelers and now with the Panthers, there’s reason to believe Johnson can beat his ADP by a significant margin.

Although Johnson’s season was a failure in terms of his fantasy production, he demonstrated that he still “has it”. Johnson ranked highly in ESPN’s Open Score metric and graded extremely well in Matt Harmon’s Reception Perception, indicating that he is still an elite route runner. He also posted a career-high in yards per route run at 2.04.

Johnson is in a new situation and indications from the Carolina coaching staff and media point toward the passing game “flowing through” Johnson. Last season, Adam Thielen, a far less talented receiver, was the focal point of the passing attack and he thrived. Through Week 6, Thielen was the WR3 as Carolina’s target hog. He slowed down following the Panthers’ Week 7 bye, ultimately finishing as the WR17.

Johnson will have stiffer target competition than Thielen did last year, but he is certainly capable of dominating the target share market in Carolina. In this case, he would be a steal as a WR4.

Jayden Reed

Overvalued

Jayden Reed, Green Bay Packers
ADP: 7.06, WR35

Jayden Reed was an exciting, dynamic talent last season but his role within the Packers’ receiving corps will likely prevent him from being a fantasy WR3.

Last season, Reed was on the field for less than 60 percent of the Packers’ offensive snaps. His opportunity within the offense is held back by his lack of usage in two-WR sets. Reed was on the field for just three snaps in which two wide receivers were used. Given the fact that Green Bay ran 11 personnel (3 WRs) on 63 percent of snaps last year, we could be looking at a player who is on the field for a maximum of 63 percent of snaps, barring dramatic changes to Matt LaFleur’s offensive philosophy. But early training camp reports indicate that nothing has changed with Reed’s usage. He is still playing in a part-time capacity.

It will require incredible efficiency for Reed to produce at WR3 levels if he’s on the field for 60 percent of snaps. He is capable of this and did so last year thanks to absurd touchdown numbers. But drafters should expect Reed to come back down to earth regarding his touchdown production and have a hard time returning value at cost.

George Pickens, Pittsburgh Steelers
ADP: 6.02, WR29

Seeing that George Pickens is drafted as the WR29 makes it seem that drafters are completely disregarding what Arthur Smith has done to fantasy managers in recent years. If Pete Carmichael’s offense is archaic, Smith’s offense belongs in the Paleolithic era. During his time in Atlanta, Smith’s incessant need to “establish the run” led to an offense that consistently ranked at the bottom of the barrel in pass rate.

It doesn’t require much hard-hitting analysis to understand that receivers in run-heavy offenses have a hard time succeeding for fantasy purposes. In his three years in Atlanta, the Falcons’ top fantasy receiver finished as the WR38, WR31, and WR37. Two of these seasons belong to Drake London, who is more talented than Pickens in almost every facet of the game.

Yes, Pickens did thrive when Diontae Johnson was off the field last year. But this was just a four-game sample. Drafters should be wary of extrapolating a sample of this size. Players who are propped up by success in a small stretch of games often lead to disappointment. This will be the case with Pickens in 2024.






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