DraftKings Inc. (NASDAQ:DKNG - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twenty-six research firms that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $51.08.
DKNG has been the subject of a number of recent research reports. Susquehanna cut their price target on DraftKings from $56.00 to $54.00 and set a "positive" rating for the company in a research note on Wednesday, January 8th. JMP Securities cut their price target on DraftKings from $52.00 to $50.00 and set a "market outperform" rating for the company in a research note on Monday, January 6th. BMO Capital Markets reaffirmed an "outperform" rating and set a $48.00 price target on shares of DraftKings in a research note on Wednesday, October 16th. Macquarie raised their price target on DraftKings from $50.00 to $51.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company raised their price target on DraftKings from $47.00 to $52.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th.
Check Out Our Latest Stock Report on DraftKings
Insider Buying and Selling at DraftKings
In other news, insider Jason Robins sold 3,151 shares of the business's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $43.71, for a total transaction of $137,730.21. Following the completion of the sale, the insider now owns 2,631,033 shares in the company, valued at $115,002,452.43. The trade was a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul Liberman sold 88,441 shares of the business's stock in a transaction on Friday, October 25th. The stock was sold at an average price of $36.41, for a total value of $3,220,136.81. Following the sale, the insider now owns 1,923,483 shares of the company's stock, valued at approximately $70,034,016.03. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,052,183 shares of company stock worth $41,303,025. 48.94% of the stock is currently owned by insiders.
Institutional Investors Weigh In On DraftKings
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Delos Wealth Advisors LLC bought a new stake in DraftKings in the third quarter valued at about $43,000. V Square Quantitative Management LLC bought a new stake in DraftKings in the third quarter valued at about $46,000. Creative Financial Designs Inc. ADV grew its stake in DraftKings by 36.8% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company's stock valued at $47,000 after acquiring an additional 320 shares during the period. Eastern Bank acquired a new position in DraftKings in the third quarter valued at about $59,000. Finally, Quarry LP acquired a new position in DraftKings in the second quarter valued at about $87,000. Institutional investors own 37.70% of the company's stock.
DraftKings Stock Down 1.0 %
NASDAQ DKNG traded down $0.39 during trading on Wednesday, reaching $39.29. 7,138,308 shares of the company's stock were exchanged, compared to its average volume of 6,983,014. DraftKings has a fifty-two week low of $28.69 and a fifty-two week high of $49.57. The firm has a market capitalization of $34.60 billion, a PE ratio of -44.65, a P/E/G ratio of 2.99 and a beta of 1.90. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17. The company's fifty day simple moving average is $40.65 and its 200-day simple moving average is $37.97.
DraftKings (NASDAQ:DKNG - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) EPS for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.18). DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. Sell-side analysts predict that DraftKings will post -0.83 EPS for the current year.
About DraftKings
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Get Free ReportDraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators.
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