The price of DraftKings Inc. (NASDAQ:DKNG) shares last traded on Wall Street fell -3.58% to $45.51.
DKNG stock price is now 5.76% away from the 50-day moving average and 32.22% away from the 200-day moving average. The market capitalization of the company currently stands at $21.55B.
With the price target enhanced from $54 to $58, Needham maintained Buy rating for DraftKings Inc. (NASDAQ: DKNG). On March 26, 2024, Mizuho recently initiated its ‘Buy’ rating on the stock quoting a target price of $58, while ‘Susquehanna’ rates the stock as ‘Positive’
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 $145.44 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 $9.11 million. A total of 4.31% of the company’s stock is owned by insiders.
During the past 12 months, DraftKings Inc. has had a low of $17.42 and a high of $49.57. 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 $43.17 and a two-hundred day moving average price translates $34.52 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.
