DraftKings Inc. (NASDAQ:DKNG) receives a Moderate Buy consensus rating from brokerages.


DraftKings Inc. (NASDAQ:DKNG – Get a free report) has received a consensus recommendation of “Moderate Buy” from the 27 research firms covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty have assigned a buy rating to the stock. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $35.86.

Several research analysts have commented on the company. JPMorgan Chase & Co. upgraded DraftKings from a “neutral” rating to an “overweight” rating and raised their price target on the stock from $26.00 to $37.00 in a research report on Tuesday, September 26th . Truist Financial raised their price objective on shares of DraftKings from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Morgan Stanley increased their price objective on DraftKings from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Friday, October 13th. Moffett Nathanson upgraded shares of DraftKings from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Tuesday, October 24th. Finally, UBS Group raised their price target on shares of DraftKings from $39.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, November 7th.

Read our latest analysis on DraftKings

DraftKings price performance

DKNG shares opened at $33.18 on Friday. The company has a market cap of $28.51 billion, a P/E ratio of -15.22 and a beta of 1.87. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.29 and a short-term ratio of 1.29. The company’s 50-day moving average is $35.52 and its 200-day moving average is $31.22. DraftKings has a 52-week low of $11.14 and a 52-week high of $39.35.

DraftKings (NASDAQ:DKNG – Get Free Report) last released its quarterly earnings results on Thursday, November 2nd. The company reported ($0.61) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.08. DraftKings had a negative net margin of 30.41% and a negative return on equity of 96.17%. The company had revenue of $789.96 million for the quarter, compared to the consensus estimate of $702.26 million. Stock analysts forecast that DraftKings will report -1.47 earnings per share for the current year.

Insider activity

In other DraftKings news, CFO Jason Park sold 750,000 shares of DraftKings stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $38.27, for a total value of $28,702,500.00. Following the completion of the sale, the CFO now directly owns 105,217 shares of the company’s stock, valued at $4,026,654.59. The sale was disclosed in a filing with the SEC, which is available on the SEC website. In other DraftKings news, CFO Jason Park sold 750,000 shares of DraftKings stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $38.27, for a total value of $28,702,500.00. Following the completion of the sale, the CFO now directly owns 105,217 shares of the company’s stock, valued at $4,026,654.59. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC website. Also, insider R. Stanton Dodge sold 105,554 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $35.82, for a total transaction of $3,780,944.28. Following the transaction, the insider now owns 652,984 shares in the company, valued at approximately $23,389,886.88. The disclosure for this sale can be found here. Insiders have sold 2,408,800 shares of company stock worth $87,716,006 in the last ninety days. 51.19% of the shares are owned by company insiders.

Institutional investors comment on DraftKings

Several hedge funds and other institutional investors have recently modified their holdings in the company. Whale Rock Capital Management LLC purchased a new stake in DraftKings in the 2nd quarter valued at $215,687,000. Two Sigma Investments LP acquired a new position in DraftKings in the 1st quarter valued at approximately $102,351,000. Massachusetts Financial Services Co. MA purchased a new stake in DraftKings in the 3rd quarter valued at approximately $107,276,000. Ameriprise Financial Inc. increased its stake in shares of DraftKings by 345.7% in the third quarter. Ameriprise Financial Inc. now owns 4,440,494 shares of the company’s stock valued at $130,742,000 after purchasing an additional 3,444,107 shares in the last quarter. Eventually Lord Abbett & CO. bought. LLC created a new position in shares of DraftKings in the third quarter valued at approximately $91,790,000. Institutional investors own 32.84% of the company’s shares.

DraftKings Company Profile

(Get free report

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It offers online sports betting and casino, daily fantasy sports, media and other consumer products, and retail sports betting. The Company is also engaged in the design and development of sports betting and casino gaming software for online and retail sportsbooks and iGaming operators.

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Analyst Recommendations for DraftKings (NASDAQ:DKNG)



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