DraftKings (NASDAQ:DKNG) Given New $53.00 Price Target at Stifel Nicolaus

DraftKings (NASDAQ:DKNG - Free Report) had its price target decreased by Stifel Nicolaus from $57.00 to $53.00 in a report published on Tuesday morning, MarketBeat Ratings reports. Stifel Nicolaus currently has a buy rating on the stock.

DKNG has been the topic of a number of other reports. Guggenheim dropped their target price on shares of DraftKings from $62.00 to $61.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Jefferies Financial Group set a $60.00 price objective on DraftKings and gave the stock a "buy" rating in a research note on Sunday, April 13th. TD Cowen cut their target price on DraftKings from $55.00 to $51.00 and set a "buy" rating on the stock in a research report on Tuesday, February 4th. Piper Sandler reiterated an "overweight" rating and issued a $60.00 price target (up previously from $48.00) on shares of DraftKings in a research report on Tuesday, February 18th. Finally, Barclays lifted their price target on DraftKings from $50.00 to $60.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, DraftKings presently has an average rating of "Moderate Buy" and a consensus target price of $54.75.

DraftKings Price Performance

DKNG traded down $0.39 on Tuesday, reaching $33.79. The company had a trading volume of 10,415,595 shares, compared to its average volume of 9,798,324. The company has a market capitalization of $29.84 billion, a P/E ratio of -31.88, a PEG ratio of 1.43 and a beta of 2.16. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24. The company has a fifty day moving average of $37.56 and a 200-day moving average of $39.53. DraftKings has a one year low of $28.69 and a one year high of $53.61.

DraftKings (NASDAQ:DKNG - Get Free Report) last posted its quarterly earnings data 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%. As a group, equities research analysts anticipate that DraftKings will post 0.64 earnings per share for the current year.

Insider Activity

In other news, insider R Stanton Dodge sold 52,777 shares of the company's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $32.28, for a total transaction of $1,703,641.56. Following the completion of the sale, the insider now owns 601,520 shares in the company, valued at approximately $19,417,065.60. This represents a 8.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jason Robins sold 666,651 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $42.42, for a total value of $28,279,335.42. Following the transaction, the insider now directly owns 3,336,195 shares in the company, valued at approximately $141,521,391.90. This represents a 16.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,628,302 shares of company stock worth $111,145,088. 51.19% of the stock is owned by corporate insiders.

Institutional Trading of DraftKings

Several large investors have recently modified their holdings of DKNG. Raiffeisen Bank International AG bought a new stake in DraftKings during the fourth quarter valued at about $25,000. FNY Investment Advisers LLC acquired a new position in shares of DraftKings during the 1st quarter worth about $26,000. Smallwood Wealth Investment Management LLC bought a new stake in DraftKings during the 1st quarter valued at approximately $27,000. Stonebridge Financial Group LLC acquired a new stake in DraftKings in the 4th quarter valued at approximately $28,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in DraftKings in the 4th quarter worth approximately $28,000. 37.70% of the stock is 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.