In yesterday’s Wall Street session, DraftKings Inc. (NASDAQ:DKNG) shares traded at $35.10, up 4.00% 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 $50.00 and a low of $22.50, we find $38.00. Given the previous closing price of $33.75, this indicates a potential upside of 12.59 percent. DKNG stock price is now 20.11% away from the 50-day moving average and 43.69% away from the 200-day moving average. The market capitalization of the company currently stands at $16.29B.
The stock has received a hold rating from 9 analysts and a buy rating from 24. Brokers who have rated the stock have averaged $37.81 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 $133.78 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 $41.91 million. Insiders disposed of 6,593,749 shares of company stock worth roughly $231.44 million over the past 1 year. A total of 8.01% of the company’s stock is owned by insiders.
On Monday morning DraftKings Inc. (NASDAQ: DKNG) stock kicked off with the opening price of $34.11. 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 1.67, a current ratio of 1.29, and a quick ratio of 1.29. The fifty day moving average price for DKNG is $29.22 and a two-hundred day moving average price translates $24.43 for the stock.
The latest earnings results from DraftKings Inc. (NASDAQ: DKNG) was released for Sep, 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 -$1.00 EPS in the same period last year. The net profit margin was -30.40% and return on equity was -89.44% for DKNG. The company reported revenue of $789.96 million for the quarter, compared to $501.94 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 57.38 percent. For the current quarter, analysts expect DKNG to generate $686.31M in revenue.
