DraftKings Inc. (NASDAQ:DKNG) Receives Consensus Rating of “Buy” from Brokerages


Share on StockTwits

Shares of DraftKings Inc. (NASDAQ:DKNG) have received an average recommendation of “Buy” from the thirty brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and twenty have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $67.18.

Several research analysts recently commented on the stock. Needham & Company LLC assumed coverage on shares of DraftKings in a report on Monday. They set a “buy” rating and a $81.00 target price for the company. The Goldman Sachs Group increased their target price on shares of DraftKings from $79.00 to $87.00 and gave the stock a “buy” rating in a report on Monday, March 29th. Jefferies Financial Group restated a “buy” rating and set a $75.00 target price (up previously from $73.00) on shares of DraftKings in a report on Tuesday, March 16th. Craig Hallum increased their target price on shares of DraftKings from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, March 1st. Finally, Credit Suisse Group increased their price target on shares of DraftKings from $84.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, March 16th.

NASDAQ:DKNG traded down $1.89 during trading hours on Thursday, hitting $55.19. The stock had a trading volume of 689,515 shares, compared to its average volume of 15,734,982. DraftKings has a one year low of $19.95 and a one year high of $74.38. The business’s 50 day moving average is $62.20 and its 200-day moving average is $54.58.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, February 25th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by ($0.12). The firm had revenue of $322.00 million for the quarter, compared to the consensus estimate of $232.04 million. The firm’s quarterly revenue was up 68.6% on a year-over-year basis. On average, sell-side analysts forecast that DraftKings will post -2.3 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. FNY Investment Advisers LLC lifted its holdings in DraftKings by 172.4% during the fourth quarter. FNY Investment Advisers LLC now owns 550 shares of the company’s stock valued at $25,000 after purchasing an additional 1,310 shares during the last quarter. Atwood & Palmer Inc. purchased a new stake in DraftKings during the first quarter valued at about $25,000. North Star Investment Management Corp. lifted its holdings in DraftKings by 88.3% during the fourth quarter. North Star Investment Management Corp. now owns 565 shares of the company’s stock valued at $26,000 after purchasing an additional 265 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in DraftKings by 109.4% during the fourth quarter. Global Retirement Partners LLC now owns 555 shares of the company’s stock valued at $26,000 after purchasing an additional 290 shares during the last quarter. Finally, Oder Investment Management LLC purchased a new stake in DraftKings during the fourth quarter valued at about $28,000. 46.50% of the stock is currently owned by institutional investors.

DraftKings Company Profile

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States. It operates through two segments, Business-to-Consumer and Business-to-Business. The company provides users with daily sports, sports betting, and iGaming opportunities. It is also involved in the design, development, and licensing of sports betting and casino gaming platform software for online and retail sportsbook, and casino gaming products.

See Also: What’s a Black Swan?

Analyst Recommendations for DraftKings (NASDAQ:DKNG)

Receive News & Ratings for DraftKings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DraftKings and related companies with MarketBeat.com's FREE daily email newsletter.