DraftKings (NASDAQ:DKNG - Get Free Report) had its price target hoisted by investment analysts at Susquehanna from $42.00 to $52.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "positive" rating on the stock. Susquehanna's price objective would suggest a potential upside of 40.92% from the company's current price.
DKNG has been the subject of several other reports. Morgan Stanley upped their target price on DraftKings from $49.00 to $53.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. BTIG Research dropped their target price on DraftKings from $64.00 to $52.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company upped their target price on DraftKings from $53.00 to $60.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Bank of America dropped their target price on DraftKings from $60.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, Argus set a $60.00 target price on DraftKings in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $55.04.
View Our Latest Report on DKNG
DraftKings Price Performance
Shares of NASDAQ DKNG traded up $0.29 during trading on Monday, reaching $36.90. The company had a trading volume of 6,891,711 shares, compared to its average volume of 9,913,640. DraftKings has a twelve month low of $28.69 and a twelve month high of $53.61. The stock has a market capitalization of $32.58 billion, a PE ratio of -34.81, a price-to-earnings-growth ratio of 1.43 and a beta of 1.89. The stock has a 50-day moving average price of $35.25 and a two-hundred day moving average price of $39.29. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24.
DraftKings (NASDAQ:DKNG - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.35). DraftKings had a negative return on equity of 48.13% and a negative net margin of 10.64%. As a group, sell-side analysts predict that DraftKings will post 0.64 earnings per share for the current year.
Insider Transactions at DraftKings
In other news, Director Jocelyn Moore sold 3,420 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $42.00, for a total transaction of $143,640.00. Following the sale, the director now directly owns 1,612 shares in the company, valued at approximately $67,704. This represents a 67.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Matthew Kalish sold 587,585 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $47.05, for a total value of $27,645,874.25. Following the completion of the transaction, the insider now directly owns 4,118,927 shares of the company's stock, valued at $193,795,515.35. This trade represents a 12.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,697,908 shares of company stock valued at $112,137,019 over the last quarter. Company insiders own 47.08% of the company's stock.
Hedge Funds Weigh In On DraftKings
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DKNG. Raiffeisen Bank International AG acquired a new position in shares of DraftKings during the 4th quarter valued at $25,000. FNY Investment Advisers LLC purchased a new stake in shares of DraftKings during the first quarter worth $26,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of DraftKings during the first quarter worth $27,000. Stonebridge Financial Group LLC purchased a new stake in shares of DraftKings during the fourth quarter worth $28,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in DraftKings during the fourth quarter valued at about $28,000. 37.70% of the stock is owned by institutional investors.
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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