DraftKings Inc. (NASDAQ:DKNG) shares traded 0.60% higher at $43.78 on Wall Street last session.
DKNG stock price is now 8.79% away from the 50-day moving average and 32.43% away from the 200-day moving average. The market capitalization of the company currently stands at $20.74B.
With the price target enhanced from $40 to $49, Morgan Stanley maintained Overweight rating for DraftKings Inc. (NASDAQ: DKNG). On February 23, 2024, Barclays Upgraded its previous ‘Equal Weight’ rating to ‘Overweight’ on the stock increasing its target price from $41 to quote $50, while ‘Oppenheimer’ rates the stock as ‘Outperform’
In other news, Robins Jason, insider sold 200,000 shares of the company’s stock on Feb 21 ’24. The stock was sold for $8,178,308 at an average price of $40.89. Upon completion of the transaction, the insider now directly owns 3,195,812 shares in the company, valued at $139.91 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 08 ’24, Chief Legal Officer Dodge R Stanton sold 686,101 shares of the business’s stock. A total of $29,543,509 was realized by selling the stock at an average price of $43.06. This leaves the insider owning 200,239 shares of the company worth $8.77 million. A total of 4.30% of the company’s stock is owned by insiders.
During the past 12 months, DraftKings Inc. has had a low of $17.02 and a high of $45.62. As of last week, the company has a debt-to-equity ratio of 1.60, a current ratio of 1.34, and a quick ratio of 1.34. The fifty day moving average price for DKNG is $40.24 and a two-hundred day moving average price translates $33.06 for the stock.
The latest earnings results from DraftKings Inc. (NASDAQ: DKNG) was released for Dec, 2023. According to the Gambling Company, earnings per share came in at -$0.1, missing analysts’ expectations of $0.08 by -0.18. This compares to -$0.52 EPS in the same period last year. The net profit margin was -21.88% and return on equity was -74.17% for DKNG. The company reported revenue of $1.23 billion for the quarter, compared to $855.13 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 43.94 percent. For the current quarter, analysts expect DKNG to generate $1.11B 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. The company is headquartered in Boston, Massachusetts.
