DraftKings Inc. (NASDAQ:DKNG) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of DraftKings Inc. (NASDAQ:DKNG - Get Free Report) have earned a consensus rating of "Moderate Buy" from the twenty-nine ratings firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and twenty-six 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 $54.48.

DKNG has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective on shares of DraftKings from $53.00 to $60.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Guggenheim cut their target price on DraftKings from $62.00 to $61.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Canaccord Genuity Group boosted their price objective on shares of DraftKings from $54.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, February 14th. TD Securities dropped their target price on DraftKings from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, Jefferies Financial Group set a $60.00 price target on DraftKings and gave the company a "buy" rating in a research note on Sunday, April 13th.

DraftKings Trading Up 0.2 %

DKNG traded up $0.07 during trading on Friday, hitting $33.29. 6,598,767 shares of the stock traded hands, compared to its average volume of 9,799,306. The firm has a market capitalization of $29.39 billion, a P/E ratio of -31.41, a price-to-earnings-growth ratio of 1.43 and a beta of 2.16. DraftKings has a 12-month low of $28.69 and a 12-month high of $53.61. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00. The firm has a 50-day moving average of $36.64 and a 200 day moving average of $39.42.

DraftKings (NASDAQ:DKNG - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative return on equity of 48.13% and a negative net margin of 10.64%. Equities research analysts anticipate that DraftKings will post 0.64 EPS for the current year.

Insider Buying and Selling

In related news, insider Paul Liberman sold 643,654 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $38.95, for a total value of $25,070,323.30. Following the sale, the insider now owns 682,764 shares in the company, valued at approximately $26,593,657.80. The trade was a 48.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider R Stanton Dodge sold 52,777 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $32.28, for a total transaction of $1,703,641.56. Following the transaction, the insider now owns 601,520 shares of the company's stock, valued at $19,417,065.60. This trade represents a 8.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,628,302 shares of company stock worth $111,145,088. Corporate insiders own 51.19% of the company's stock.

Institutional Trading of DraftKings

A number of large investors have recently made changes to their positions in the business. Raiffeisen Bank International AG bought a new stake in DraftKings during the fourth quarter worth approximately $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of DraftKings in the 4th quarter worth approximately $28,000. Stonebridge Financial Group LLC bought a new position in shares of DraftKings during the 4th quarter valued at approximately $28,000. Synergy Asset Management LLC purchased a new stake in DraftKings during the 4th quarter valued at $30,000. Finally, FNY Investment Advisers LLC bought a new stake in DraftKings in the first quarter worth $26,000. 37.70% of the stock is currently owned by institutional investors.

About DraftKings

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.