DraftKings Inc. (NASDAQ:DKNG – Get Rating) has earned a consensus rating of “Hold” from the twenty-five ratings firms that are covering the company, MarketBeat reports. Ten research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $35.86.
A number of equities research analysts have recently issued reports on DKNG shares. Cowen cut their target price on DraftKings from $60.00 to $50.00 in a research report on Wednesday, May 4th. Needham & Company LLC dropped their price target on DraftKings from $32.00 to $25.00 in a research report on Monday, May 9th. Loop Capital dropped their price target on DraftKings from $35.00 to $25.00 in a research report on Monday, May 9th. Deutsche Bank Aktiengesellschaft dropped their price target on DraftKings from $19.00 to $16.00 in a research report on Monday, May 9th. Finally, Truist Financial dropped their price target on DraftKings from $30.00 to $22.00 and set a “hold” rating on the stock in a research report on Tuesday, February 22nd.
In other news, insider R Stanton Dodge sold 191,501 shares of the business’s stock in a transaction that occurred on Thursday, February 24th. The stock was sold at an average price of $19.77, for a total transaction of $3,785,974.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jason Park sold 199,081 shares of the business’s stock in a transaction that occurred on Wednesday, February 23rd. The stock was sold at an average price of $20.26, for a total value of $4,033,381.06. The disclosure for this sale can be found here. In the last three months, insiders have acquired 190,000 shares of company stock worth $3,608,000 and have sold 1,316,922 shares worth $25,319,815. 55.92% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Ontario Teachers Pension Plan Board boosted its stake in shares of DraftKings by 55.0% in the first quarter. Ontario Teachers Pension Plan Board now owns 46,005 shares of the company’s stock valued at $896,000 after buying an additional 16,327 shares during the period. Northern Trust Corp boosted its stake in shares of DraftKings by 1.7% in the first quarter. Northern Trust Corp now owns 1,830,203 shares of the company’s stock valued at $35,634,000 after buying an additional 30,827 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of DraftKings by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,027,878 shares of the company’s stock valued at $20,013,000 after buying an additional 15,054 shares during the period. Frontier Wealth Management LLC boosted its stake in shares of DraftKings by 93.2% in the first quarter. Frontier Wealth Management LLC now owns 14,845 shares of the company’s stock valued at $244,000 after buying an additional 7,162 shares during the period. Finally, Mariner LLC boosted its stake in shares of DraftKings by 40.5% in the first quarter. Mariner LLC now owns 26,547 shares of the company’s stock valued at $517,000 after buying an additional 7,656 shares during the period. Institutional investors own 33.91% of the company’s stock.
Shares of DraftKings stock opened at $12.61 on Monday. The company has a quick ratio of 2.96, a current ratio of 2.96 and a debt-to-equity ratio of 0.74. The firm has a market cap of $10.11 billion, a price-to-earnings ratio of -3.11 and a beta of 2.07. The business has a fifty day simple moving average of $16.40 and a 200-day simple moving average of $24.43. DraftKings has a fifty-two week low of $9.77 and a fifty-two week high of $64.58.
DraftKings (NASDAQ:DKNG – Get Rating) last announced its earnings results on Friday, May 6th. The company reported ($1.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.08. The company had revenue of $417.21 million for the quarter, compared to analyst estimates of $404.20 million. DraftKings had a negative return on equity of 86.40% and a negative net margin of 117.39%. Analysts anticipate that DraftKings will post -3.79 earnings per share for the current fiscal year.
About DraftKings (Get Rating)
DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It operates through two segments, Business-to-Consumer and Business-to-Business. The company provides users with daily fantasy sports, sports betting, and iGaming opportunities, as well as media and other online consumer products.
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