Analysts Set DraftKings Inc. (NASDAQ:DKNG) Price Target at $43.93

Shares of DraftKings Inc. (NASDAQ:DKNGGet Free Report) have earned an average recommendation of “Moderate Buy” from the twenty-six brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-three have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $43.93.

A number of research analysts recently commented on DKNG shares. Bank Of America (Bofa) upped their price objective on DraftKings from $45.00 to $50.00 in a research note on Thursday, February 15th. Oppenheimer lifted their price objective on shares of DraftKings from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Barclays upgraded shares of DraftKings from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $41.00 to $50.00 in a research report on Friday, February 23rd. BNP Paribas cut DraftKings from a “neutral” rating to an “underperform” rating and set a $28.00 price target on the stock. in a report on Friday, January 19th. Finally, Truist Financial reissued a “buy” rating and issued a $55.00 price objective (up from $45.00) on shares of DraftKings in a report on Tuesday, February 20th.

Get Our Latest Stock Report on DKNG

Insider Activity

In other news, insider R Stanton Dodge sold 686,101 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $43.06, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Paul Liberman sold 510,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $40.00, for a total value of $20,400,000.00. Following the sale, the insider now owns 2,291,406 shares of the company’s stock, valued at approximately $91,656,240. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider R Stanton Dodge sold 686,101 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was 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 in the company, valued at approximately $8,622,291.34. The disclosure for this sale can be found here. Insiders have sold 1,596,101 shares of company stock worth $65,685,509 over the last 90 days. 51.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On DraftKings

A number of hedge funds and other institutional investors have recently bought and sold shares of DKNG. Fifth Third Bancorp increased its stake in shares of DraftKings by 8.3% in the 4th quarter. Fifth Third Bancorp now owns 4,331 shares of the company’s stock valued at $153,000 after buying an additional 331 shares during the period. Cornerstone Wealth Management LLC raised its holdings in shares of DraftKings by 4.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 8,082 shares of the company’s stock worth $285,000 after acquiring an additional 341 shares during the period. Signaturefd LLC raised its stake in shares of DraftKings by 7.6% in the 3rd quarter. Signaturefd LLC now owns 5,350 shares of the company’s stock valued at $158,000 after purchasing an additional 379 shares during the period. Stratos Wealth Advisors LLC lifted its position in shares of DraftKings by 3.8% in the fourth quarter. Stratos Wealth Advisors LLC now owns 10,289 shares of the company’s stock worth $363,000 after purchasing an additional 381 shares in the last quarter. Finally, Udine Wealth Management Inc. raised its holdings in DraftKings by 0.5% during the third quarter. Udine Wealth Management Inc. now owns 79,352 shares of the company’s stock worth $2,336,000 after acquiring an additional 384 shares in the last quarter. 32.84% of the stock is owned by institutional investors and hedge funds.

DraftKings Trading Down 1.6 %

DraftKings stock opened at $47.20 on Thursday. DraftKings has a 1 year low of $17.12 and a 1 year high of $48.90. The firm’s 50-day moving average is $41.48 and its 200-day moving average is $35.84. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market cap of $40.90 billion, a P/E ratio of -26.97 and a beta of 1.87.

DraftKings (NASDAQ:DKNGGet Free Report) last issued its 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 business 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 business’s revenue was up 43.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.53) EPS. On average, equities analysts expect that DraftKings will post -0.24 earnings per share for the current year.

DraftKings Company Profile

(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.

Recommended Stories

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.