In yesterday’s Wall Street session, DraftKings Inc. (NASDAQ:DKNG) shares traded at $28.15, up 3.99% from the previous session.
34 analysts cover DraftKings Inc. (NASDAQ:DKNG), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $44.00 and a low of $22.50, we find $37.00. Given the previous closing price of $27.07, this indicates a potential upside of 36.68 percent. DKNG stock price is now -3.34% away from the 50-day moving average and 18.93% away from the 200-day moving average. The market capitalization of the company currently stands at $13.06B.
The stock has received a hold rating from 11 analysts and a buy rating from 23. Brokers who have rated the stock have averaged $36.03 as their price target over the next twelve months.
With the price target enhanced from $26 to $37, JP Morgan Upgraded its rating from Neutral to Overweight for DraftKings Inc. (NASDAQ: DKNG).
In other news, Dodge R Stanton, Chief Legal Officer sold 29,086 shares of the company’s stock on Sep 06. The stock was sold for $872,580 at an average price of $30.00. Upon completion of the transaction, the Chief Legal Officer now directly owns 648,773 shares in the company, valued at $18.26 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 01, Chief Legal Officer Dodge R Stanton sold 23,691 shares of the business’s stock. A total of $710,730 was realized by selling the stock at an average price of $30.00. This leaves the insider owning 648,773 shares of the company worth $18.26 million. Insiders disposed of 6,593,749 shares of company stock worth roughly $185.61 million over the past 1 year. A total of 8.02% 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 WHALE ROCK CAPITAL MANAGEMENT LLC during the first quarter worth $228,513,000. FRED ALGER MANAGEMENT, LLC invested $99,775,000 in shares of DKNG during the first quarter. In the first quarter, ALYESKA INVESTMENT GROUP, L.P. acquired a new stake in DraftKings Inc. valued at approximately $43,867,000. CRESSET ASSET MANAGEMENT, LLC acquired a new stake in DKNG for approximately $36,775,000. SUMMIT PARTNERS PUBLIC ASSET MANAGEMENT, LLC purchased a new stake in DKNG valued at around $27,662,000 in the second quarter. In total, there are 669 active investors with 56.27% ownership of the company’s stock.
On Monday morning DraftKings Inc. (NASDAQ: DKNG) stock kicked off with the opening price of $27.50. During the past 12 months, DraftKings Inc. has had a low of $10.69 and a high of $34.49. As of last week, the company has a debt-to-equity ratio of 1.30, a current ratio of 1.60, and a quick ratio of 1.60. The fifty day moving average price for DKNG is $29.12 and a two-hundred day moving average price translates $23.67 for the stock.
The latest earnings results from DraftKings Inc. (NASDAQ: DKNG) was released for Jun, 2023. According to the Gambling Company, earnings per share came in at -$0.17, beating analysts’ expectations of -$0.25 by 0.08. This compares to -$0.50 EPS in the same period last year. The net profit margin was -38.90% and return on equity was -83.93% for DKNG. The company reported revenue of $874.93 million for the quarter, compared to $466.19 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 87.68 percent. For the current quarter, analysts expect DKNG to generate $686.31M 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.
