The stock of DraftKings Inc. (NASDAQ:DKNG) last traded at $35.58, up 1.57% 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 $50.00 and a low of $22.50, we find $39.00. Given the previous closing price of $35.03, this indicates a potential upside of 11.33 percent. DKNG stock price is now 19.11% away from the 50-day moving average and 42.60% away from the 200-day moving average. The market capitalization of the company currently stands at $16.59B.
In total, 9 analysts have assigned it a hold rating, and 24 have given it a buy rating. Brokers who have rated the stock have averaged $38.39 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 500,000 shares of the company’s stock on Nov 08. The stock was sold for $17,915,000 at an average price of $35.83. Upon completion of the transaction, the insider now directly owns 3,531,898 shares in the company, valued at $125.66 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 08, Chief Legal Officer Dodge R Stanton sold 105,554 shares of the business’s stock. A total of $3,780,944 was realized by selling the stock at an average price of $35.82. This leaves the insider owning 652,984 shares of the company worth $23.23 million. Insiders disposed of 6,814,997 shares of company stock worth roughly $242.48 million over the past 1 year. A total of 7.95% of the company’s stock is owned by insiders.
With an opening price of $34.69 on Monday morning, DraftKings Inc. (NASDAQ: DKNG) set off the trading day. During the past 12 months, DraftKings Inc. has had a low of $10.69 and a high of $36.37. 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 $29.87 and a two-hundred day moving average price translates $24.95 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 -$0.61, beating analysts’ expectations of -$0.69 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 $1.27B 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.