In yesterday’s Wall Street session, DraftKings Inc. (NASDAQ:DKNG) shares traded at $26.92, up 1.05% 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 $26.64, this indicates a potential upside of 38.89 percent. DKNG stock price is now -7.35% away from the 50-day moving average and 11.93% away from the 200-day moving average. The market capitalization of the company currently stands at $12.49B.
The stock has received a hold rating from 10 analysts and a buy rating from 24. Brokers who have rated the stock have averaged $36.13 as their price target over the next twelve months.
With the price target maintained at $37, MoffettNathanson recently Upgraded its rating from Hold to Buy for DraftKings Inc. (NASDAQ: DKNG).
In other news, Robins Jason, insider sold 200,000 shares of the company’s stock on Oct 20. The stock was sold for $5,422,901 at an average price of $27.11. Upon completion of the transaction, the insider now directly owns 3,811,351 shares in the company, valued at $102.6 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 20, Liberman Paul sold 66,667 shares of the business’s stock. A total of $1,807,360 was realized by selling the stock at an average price of $27.11. This leaves the insider owning 1,193,916 shares of the company worth $32.14 million. Insiders disposed of 6,593,749 shares of company stock worth roughly $177.5 million over the past 1 year. A total of 8.01% 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 $218,528,000. FRED ALGER MANAGEMENT, LLC invested $95,416,000 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 $41,951,000. CRESSET ASSET MANAGEMENT, LLC acquired a new stake in DKNG for approximately $35,168,000. SUMMIT PARTNERS PUBLIC ASSET MANAGEMENT, LLC purchased a new stake in DKNG valued at around $26,453,000 in the second quarter. In total, there are 669 active investors with 56.33% ownership of the company’s stock.
On Monday morning DraftKings Inc. (NASDAQ: DKNG) stock kicked off with the opening price of $26.90. 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 $29.06 and a two-hundred day moving average price translates $24.12 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.
