Stocks of DraftKings Inc. (NASDAQ:DKNG) traded higher last session on Wall Street, up 0.81% to $38.68.
According to the data, DraftKings Inc. (NASDAQ:DKNG) has 33 analysts covering its stock. 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 $40.50. Given the previous closing price of $38.37, this indicates a potential upside of 5.55 percent. DKNG stock price is now 26.76% away from the 50-day moving average and 51.78% away from the 200-day moving average. The market capitalization of the company currently stands at $18.03B.
A total of 8 analysts have issued a hold rating and 24 have given it a buy rating. Brokers who have rated the stock have averaged $39.83 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 $136.61 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 $25.26 million. Insiders disposed of 6,814,997 shares of company stock worth roughly $263.6 million over the past 1 year. A total of 4.47% of the company’s stock is owned by insiders.
Monday’s opening bell rang with an opening price of $38.46 for DraftKings Inc. (NASDAQ: DKNG). During the past 12 months, DraftKings Inc. has had a low of $10.69 and a high of $38.72. 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 $30.51 and a two-hundred day moving average price translates $25.48 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 as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, and daily fantasy sports product offerings, as well as retail sportsbook, media, and other consumer product offerings. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators. It offers DraftKings marketplace, a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings Inc. was founded in 2011 and is headquartered in Boston, Massachusetts.