DraftKings (NASDAQ:DKNG - Get Free Report) had its price objective hoisted by equities research analysts at JPMorgan Chase & Co. from $53.00 to $61.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 33.86% from the stock's previous close.
Several other equities analysts also recently weighed in on the company. Wells Fargo & Company lifted their target price on DraftKings from $53.00 to $60.00 and gave the company an "overweight" rating in a research report on Tuesday. Benchmark lifted their price objective on shares of DraftKings from $44.00 to $51.00 and gave the company a "buy" rating in a report on Friday, February 14th. TD Cowen cut their target price on shares of DraftKings from $55.00 to $51.00 and set a "buy" rating on the stock in a research note on Tuesday, February 4th. Morgan Stanley raised their price target on shares of DraftKings from $47.00 to $48.00 and gave the company an "overweight" rating in a research report on Tuesday, October 22nd. Finally, Susquehanna cut their price objective on DraftKings from $56.00 to $54.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. According to MarketBeat, DraftKings currently has an average rating of "Moderate Buy" and an average price target of $53.69.
Check Out Our Latest Stock Analysis on DraftKings
DraftKings Trading Down 7.8 %
DKNG traded down $3.87 on Tuesday, hitting $45.57. The company had a trading volume of 16,259,512 shares, compared to its average volume of 10,188,783. The company's fifty day moving average price is $41.41 and its 200 day moving average price is $39.28. DraftKings has a 1 year low of $28.69 and a 1 year high of $53.61. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24. The firm has a market cap of $22.33 billion, a P/E ratio of -42.99, a PEG ratio of 1.91 and a beta of 1.93.
DraftKings (NASDAQ:DKNG - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative return on equity of 48.13% and a negative net margin of 10.64%. As a group, equities analysts expect that DraftKings will post 0.49 earnings per share for the current year.
Insiders Place Their Bets
In other DraftKings news, insider Paul Liberman sold 532,095 shares of the company's stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $38.30, for a total value of $20,379,238.50. Following the transaction, the insider now directly owns 68,654 shares in the company, valued at approximately $2,629,448.20. This represents a 88.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $45.00, for a total transaction of $9,000,000.00. Following the sale, the insider now owns 2,678,613 shares of the company's stock, valued at approximately $120,537,585. This trade represents a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,160,591 shares of company stock worth $46,945,158. Insiders own 51.19% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Raiffeisen Bank International AG acquired a new position in DraftKings during the fourth quarter worth approximately $25,000. Stonebridge Financial Group LLC purchased a new stake in shares of DraftKings during the 4th quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of DraftKings during the 4th quarter worth $28,000. Synergy Asset Management LLC purchased a new position in shares of DraftKings in the 4th quarter worth $30,000. Finally, Synergy Investment Management LLC acquired a new position in DraftKings in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 37.70% of the company's stock.
About DraftKings
(
Get Free Report)
DraftKings 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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