The stock of DraftKings Inc. (NASDAQ:DKNG) last traded at $23.98, up 4.90% from the previous session.
Data from the available sources indicates that DraftKings Inc. (NASDAQ:DKNG) is covered by 34 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $39.00 and a low of $17.00, we find $26.00. Given the previous closing price of $22.86, this indicates a potential upside of 13.74 percent. DKNG stock price is now 18.78% away from the 50-day moving average and 43.84% away from the 200-day moving average. The market capitalization of the company currently stands at $11.30B.
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In total, 14 analysts have assigned it a hold rating, and 18 have given it a buy rating. Brokers who have rated the stock have averaged $27.06 as their price target over the next twelve months.
With the price target enhanced from $15 to $18, ROTH MKM maintained Sell rating for DraftKings Inc. (NASDAQ: DKNG). On May 05, 2023, The Benchmark Company reiterated its ‘Buy’ rating on the stock by increasing its target price from $23 to quote $26, while ‘Oppenheimer’ rates the stock as ‘Outperform’.
In other news, Kalish Matthew, insider sold 369,420 shares of the company’s stock on May 08. The stock was sold for $8,984,294 at an average price of $24.32. Upon completion of the transaction, the insider now directly owns 2,754,910 shares in the company, valued at $66.06 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 08, See Remarks Robins Jason sold 200,000 shares of the business’s stock. A total of $4,868,000 was realized by selling the stock at an average price of $24.34. This leaves the insider owning 5,759,019 shares of the company worth $138.1 million. Insiders disposed of 2,775,615 shares of company stock worth roughly $66.56 million over the past 1 year. A total of 2.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in DKNG stock. A new stake in DraftKings Inc. shares was purchased by TWO SIGMA INVESTMENTS, LP during the first quarter worth $126,775,000. JERICHO CAPITAL ASSET MANAGEMENT L.P. invested $73,194,000 in shares of DKNG during the first quarter. In the first quarter, HOOD RIVER CAPITAL MANAGEMENT LLC acquired a new stake in DraftKings Inc. valued at approximately $39,030,000. SCOPUS ASSET MANAGEMENT, L.P. acquired a new stake in DKNG for approximately $32,973,000. QUBE RESEARCH & TECHNOLOGIES LTD purchased a new stake in DKNG valued at around $16,515,000 in the second quarter. In total, there are 612 active investors with 58.20% ownership of the company’s stock.
With an opening price of $22.77 on Thursday morning, DraftKings Inc. (NASDAQ: DKNG) set off the trading day. During the past 12 months, DraftKings Inc. has had a low of $10.52 and a high of $25.34. As of last week, the company has a debt-to-equity ratio of 1.23, a current ratio of 1.50, and a quick ratio of 1.50. The fifty day moving average price for DKNG is $20.28 and a two-hundred day moving average price translates $16.71 for the stock.
The latest earnings results from DraftKings Inc. (NASDAQ: DKNG) was released for Mar, 2023. According to the Gambling Company, earnings per share came in at -$0.87, beating analysts’ expectations of -$0.89 by 0.02. This compares to -$1.14 EPS in the same period last year. The net profit margin was -50.40% and return on equity was -94.40% for DKNG. The company reported revenue of $769.65 million for the quarter, compared to $417.2 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 84.48 percent. For the current quarter, analysts expect DKNG to generate $708.47M in revenue.
DraftKings Inc.(DKNG) Company Profile
DraftKings Inc. operates a digital sports entertainment and gaming company. It offers multi-channel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. The company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states. Its Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in 18 states. The company’s daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories. In addition, it offers DraftKings Marketplace, a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions, as well as owns Vegas Sports Information Network (VSiN), a multi-platform broadcast and content company. DraftKings Inc. was founded in 2011 and is headquartered in Boston, Massachusetts.
