The stock of DraftKings Inc. (NASDAQ:DKNG) last traded at $25.56, up 2.00% 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 $28.00. Given the previous closing price of $25.06, this indicates a potential upside of 11.73 percent. DKNG stock price is now 16.51% away from the 50-day moving average and 49.72% away from the 200-day moving average. The market capitalization of the company currently stands at $11.57B.
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In total, 13 analysts have assigned it a hold rating, and 19 have given it a buy rating. Brokers who have rated the stock have averaged $27.50 as their price target over the next twelve months.
With the price target enhanced from $19 to $30, UBS Upgraded its rating from Neutral to Buy for DraftKings Inc. (NASDAQ: DKNG).
In other news, Liberman Paul, insider sold 66,667 shares of the company’s stock on May 31. The stock was sold for $1,546,008 at an average price of $23.19. Upon completion of the transaction, the insider now directly owns 1,327,250 shares in the company, valued at $33.92 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 22, Chief Financial Officer Park Jason sold 200,000 shares of the business’s stock. A total of $5,000,000 was realized by selling the stock at an average price of $25.00. This leaves the insider owning 216,654 shares of the company worth $5.54 million. Insiders disposed of 4,665,103 shares of company stock worth roughly $119.24 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 $135,128,000. JERICHO CAPITAL ASSET MANAGEMENT L.P. invested $78,017,000 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 $41,601,000. SCOPUS ASSET MANAGEMENT, L.P. acquired a new stake in DKNG for approximately $35,145,000. QUBE RESEARCH & TECHNOLOGIES LTD purchased a new stake in DKNG valued at around $17,603,000 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 $24.79 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 $26.65. 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 $22.10 and a two-hundred day moving average price translates $17.11 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 $712.32M in revenue.
