DraftKings (NASDAQ:DKNG) Given New $57.00 Price Target at Stifel Nicolaus

DraftKings (NASDAQ:DKNG - Free Report) had its target price upped by Stifel Nicolaus from $48.00 to $57.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

DKNG has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their target price on DraftKings from $47.00 to $53.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Benchmark boosted their target price on DraftKings from $44.00 to $51.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Macquarie boosted their target price on DraftKings from $50.00 to $51.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Morgan Stanley boosted their target price on DraftKings from $47.00 to $48.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $60.00 target price on shares of DraftKings in a research report on Friday, February 14th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.69.

DraftKings Price Performance

Shares of NASDAQ DKNG traded down $3.87 during mid-day trading on Tuesday, reaching $45.57. The company's stock had a trading volume of 16,259,512 shares, compared to its average volume of 10,188,783. The firm has a market capitalization of $22.33 billion, a PE ratio of -42.99, a P/E/G ratio of 1.91 and a beta of 1.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00. The stock has a fifty day moving average of $41.41 and a two-hundred day moving average of $39.28. DraftKings has a 52 week low of $28.69 and a 52 week high of $53.61.

DraftKings (NASDAQ:DKNG - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates 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, sell-side analysts anticipate that DraftKings will post 0.49 EPS for the current fiscal year.

Insider Transactions at DraftKings

In related news, insider Jason Robins sold 200,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $45.00, for a total value of $9,000,000.00. Following the transaction, the insider now owns 2,678,613 shares of the company's stock, valued at $120,537,585. This represents a 6.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R Stanton Dodge sold 228,496 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $42.74, for a total value of $9,765,919.04. Following the completion of the transaction, the insider now directly owns 541,884 shares in the company, valued at approximately $23,160,122.16. This trade represents a 29.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,160,591 shares of company stock worth $46,945,158. 51.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DKNG. Janus Henderson Group PLC grew its stake in DraftKings by 31,346.8% in the fourth quarter. Janus Henderson Group PLC now owns 9,381,853 shares of the company's stock worth $349,005,000 after purchasing an additional 9,352,019 shares in the last quarter. Norges Bank bought a new position in DraftKings in the fourth quarter worth approximately $276,328,000. FMR LLC grew its stake in DraftKings by 110.6% in the fourth quarter. FMR LLC now owns 13,617,448 shares of the company's stock worth $506,569,000 after purchasing an additional 7,150,382 shares in the last quarter. Baillie Gifford & Co. bought a new stake in DraftKings during the 4th quarter valued at $246,765,000. Finally, Eminence Capital LP bought a new stake in DraftKings during the 4th quarter valued at $65,255,000. Institutional investors own 37.70% of the company's stock.

About DraftKings

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.