In yesterday’s Wall Street session, DraftKings Inc. (NASDAQ:DKNG) shares traded at $38.30, down -1.16% from the previous session.
As of this writing, 33 analysts cover DraftKings Inc. (NASDAQ:DKNG). 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 $41.00. Given the previous closing price of $38.75, this indicates a potential upside of 5.81 percent. DKNG stock price is now 22.52% away from the 50-day moving average and 47.18% away from the 200-day moving average. The market capitalization of the company currently stands at $17.86B.
There are 8 analysts who have given it a hold rating, whereas 24 have given it a buy rating. Brokers who have rated the stock have averaged $40.03 as their price target over the next twelve months.
With the price target enhanced from $40 to $46, Argus maintained Buy rating for DraftKings Inc. (NASDAQ: DKNG).
In other news, Park Jason, Chief Financial Officer sold 750,000 shares of the company’s stock on Nov 21. The stock was sold for $28,702,500 at an average price of $38.27. Upon completion of the transaction, the Chief Financial Officer now directly owns 105,217 shares in the company, valued at $4.03 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 21, Robins Jason sold 200,000 shares of the business’s stock. A total of $7,654,000 was realized by selling the stock at an average price of $38.27. This leaves the insider owning 3,476,759 shares of the company worth $133.16 million. Insiders disposed of 7,584,605 shares of company stock worth roughly $290.49 million over the past 1 year. A total of 4.47% of the company’s stock is owned by insiders.
Tuesday morning saw DraftKings Inc. (NASDAQ: DKNG) opened at $38.50. During the past 12 months, DraftKings Inc. has had a low of $10.69 and a high of $39.35. 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 $31.26 and a two-hundred day moving average price translates $26.02 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 $1.28B 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, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators. In addition, it offers DraftKings marketplace, a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings Inc. is headquartered in Boston, Massachusetts.
