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.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
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.
