DraftKings (NASDAQ:DKNG - Get Free Report) had its price target cut by Barclays from $60.00 to $50.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's price target indicates a potential upside of 47.97% from the stock's current price.
DKNG has been the topic of a number of other reports. Cfra Research raised shares of DraftKings to a "moderate buy" rating in a report on Monday, April 14th. Canaccord Genuity Group boosted their target price on shares of DraftKings from $54.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, February 14th. JMP Securities set a $57.00 target price on shares of DraftKings in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. lifted their price target on shares of DraftKings from $53.00 to $61.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Finally, TD Cowen reduced their price objective on DraftKings from $55.00 to $51.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $54.75.
Read Our Latest Stock Report on DKNG
DraftKings Stock Down 1.1 %
NASDAQ:DKNG traded down $0.39 on Tuesday, hitting $33.79. The stock had a trading volume of 10,415,595 shares, compared to its average volume of 9,798,324. DraftKings has a 1 year low of $28.69 and a 1 year high of $53.61. The firm's fifty day simple moving average is $37.56 and its two-hundred day simple moving average is $39.53. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.00 and a current ratio of 0.93. The stock has a market cap of $29.84 billion, a P/E ratio of -31.88, a price-to-earnings-growth ratio of 1.43 and a beta of 2.16.
DraftKings (NASDAQ:DKNG - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.35). DraftKings had a negative net margin of 10.64% and a negative return on equity of 48.13%. Analysts predict that DraftKings will post 0.64 earnings per share for the current year.
Insider Transactions at DraftKings
In related news, insider R Stanton Dodge sold 52,777 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $32.28, for a total value of $1,703,641.56. Following the sale, the insider now directly owns 601,520 shares of the company's stock, valued at $19,417,065.60. This trade represents a 8.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Alan Wayne Ellingson sold 158,661 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $42.42, for a total value of $6,730,399.62. Following the transaction, the chief financial officer now directly owns 179,435 shares of the company's stock, valued at $7,611,632.70. The trade was a 46.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,628,302 shares of company stock worth $111,145,088. Insiders own 51.19% of the company's stock.
Institutional Trading of DraftKings
Large investors have recently added to or reduced their stakes in the stock. Raiffeisen Bank International AG purchased a new stake in shares of DraftKings in the 4th quarter worth about $25,000. FNY Investment Advisers LLC bought a new position in DraftKings in the first quarter worth about $26,000. Smallwood Wealth Investment Management LLC purchased a new stake in DraftKings in the first quarter worth about $27,000. Stonebridge Financial Group LLC bought a new stake in shares of DraftKings during the 4th quarter valued at $28,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of DraftKings in the 4th quarter worth about $28,000. Institutional investors own 37.70% of the company's stock.
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.
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