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

DraftKings Inc. (NASDAQ:DKNGGet Free Report) has been assigned an average rating of “Moderate Buy” from the twenty-eight research firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and twenty-five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $47.00.

A number of equities analysts have commented on DKNG shares. Piper Sandler lifted their price objective on shares of DraftKings from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. Susquehanna lifted their price objective on shares of DraftKings from $51.00 to $54.00 and gave the stock a “positive” rating in a report on Monday, March 25th. Stifel Nicolaus raised shares of DraftKings from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $45.00 in a report on Friday, January 19th. JMP Securities reaffirmed a “market outperform” rating and issued a $52.00 price objective on shares of DraftKings in a report on Monday, March 25th. Finally, The Goldman Sachs Group started coverage on shares of DraftKings in a report on Tuesday, April 16th. They issued a “buy” rating and a $60.00 price objective for the company.

View Our Latest Report on DraftKings

Insider Buying and Selling at DraftKings

In other DraftKings news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.89, for a total value of $8,178,000.00. Following the completion of the sale, the insider now directly owns 3,195,812 shares of the company’s stock, valued at approximately $130,676,752.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other DraftKings news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.89, for a total value of $8,178,000.00. Following the completion of the sale, the insider now directly owns 3,195,812 shares of the company’s stock, valued at approximately $130,676,752.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider R Stanton Dodge sold 686,101 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $43.06, for a total transaction of $29,543,509.06. Following the completion of the sale, the insider now directly owns 200,239 shares of the company’s stock, valued at $8,622,291.34. The disclosure for this sale can be found here. In the last three months, insiders sold 1,396,101 shares of company stock valued at $58,121,509. 51.19% of the stock is owned by insiders.

Institutional Trading of DraftKings

Hedge funds have recently bought and sold shares of the company. Highlander Capital Management LLC lifted its stake in DraftKings by 180.0% during the fourth quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock valued at $25,000 after buying an additional 450 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in DraftKings during the fourth quarter valued at about $26,000. O Dell Group LLC purchased a new stake in DraftKings during the fourth quarter valued at about $28,000. Montag A & Associates Inc. purchased a new stake in DraftKings during the fourth quarter valued at about $29,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in DraftKings by 117.5% during the first quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the company’s stock valued at $42,000 after buying an additional 498 shares in the last quarter. 37.70% of the stock is owned by hedge funds and other institutional investors.

DraftKings Stock Down 2.3 %

Shares of NASDAQ:DKNG opened at $40.68 on Monday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.49. The company has a fifty day simple moving average of $43.79 and a 200 day simple moving average of $38.05. The firm has a market cap of $35.25 billion, a PE ratio of -23.25 and a beta of 1.86. DraftKings has a 12-month low of $20.26 and a 12-month high of $49.57.

DraftKings (NASDAQ:DKNGGet Free Report) last issued its quarterly earnings results on Friday, February 16th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.16). The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. DraftKings had a negative return on equity of 87.24% and a negative net margin of 21.88%. The firm’s quarterly revenue was up 43.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.53) EPS. On average, equities research analysts anticipate that DraftKings will post -0.25 EPS for the current fiscal year.

About DraftKings

(Get Free Report

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.

Further Reading

Analyst Recommendations for DraftKings (NASDAQ:DKNG)

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