Recent Analysts’ Ratings Updates for DraftKings (DKNG)

by · The Cerbat Gem

A number of research firms have changed their ratings and price targets for DraftKings (NASDAQ: DKNG):

  • 10/18/2024 – DraftKings had its price target raised by analysts at Mizuho from $54.00 to $62.00. They now have an “outperform” rating on the stock.
  • 10/17/2024 – DraftKings had its price target raised by analysts at Wells Fargo & Company from $47.00 to $52.00. They now have an “overweight” rating on the stock.
  • 10/16/2024 – DraftKings had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $48.00 price target on the stock.
  • 10/14/2024 – DraftKings had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $51.00 price target on the stock.
  • 10/7/2024 – DraftKings had its price target raised by analysts at Susquehanna from $48.00 to $50.00. They now have a “positive” rating on the stock.
  • 10/7/2024 – DraftKings had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $44.00 price target on the stock.
  • 10/4/2024 – DraftKings had its price target raised by analysts at Barclays PLC from $43.00 to $45.00. They now have an “overweight” rating on the stock.
  • 9/26/2024 – DraftKings had its price target raised by analysts at JPMorgan Chase & Co. from $48.00 to $54.00. They now have an “overweight” rating on the stock.
  • 9/23/2024 – DraftKings had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $60.00 price target on the stock.
  • 9/16/2024 – DraftKings had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $60.00 price target on the stock.
  • 9/11/2024 – DraftKings had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $47.00 price target on the stock.
  • 9/10/2024 – DraftKings was upgraded by analysts at BNP Paribas from an “underperform” rating to a “neutral” rating. They now have a $35.00 price target on the stock.
  • 9/9/2024 – DraftKings had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $60.00 price target on the stock.
  • 9/4/2024 – DraftKings had its price target raised by analysts at Susquehanna from $47.00 to $48.00. They now have a “positive” rating on the stock.
  • 9/4/2024 – DraftKings had its price target raised by analysts at UBS Group AG from $56.00 to $58.00. They now have a “buy” rating on the stock.
  • 9/3/2024 – DraftKings had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $60.00 price target on the stock.
  • 8/26/2024 – DraftKings had its “outperform” rating reaffirmed by analysts at Macquarie. They now have a $50.00 price target on the stock.
  • 8/20/2024 – DraftKings had its price target raised by analysts at Benchmark Co. from $41.00 to $44.00. They now have a “buy” rating on the stock.

DraftKings Stock Performance

DKNG traded up $1.25 during trading on Friday, reaching $38.90. 2,745,658 shares of the company’s stock were exchanged, compared to its average volume of 10,366,766. DraftKings Inc. has a 1 year low of $25.73 and a 1 year high of $49.57. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $33.81 billion, a P/E ratio of -32.97 and a beta of 1.81. The company’s fifty day simple moving average is $36.62 and its 200-day simple moving average is $38.73.

DraftKings (NASDAQ:DKNG – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.13. DraftKings had a negative net margin of 9.45% and a negative return on equity of 43.11%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the firm posted ($0.17) EPS. DraftKings’s revenue for the quarter was up 26.2% compared to the same quarter last year. As a group, research analysts predict that DraftKings Inc. will post -0.31 earnings per share for the current fiscal year.

Insider Transactions at DraftKings

In other news, insider Paul Liberman sold 88,441 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.64, for a total transaction of $3,152,037.24. Following the sale, the insider now owns 2,498,483 shares of the company’s stock, valued at $89,045,934.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Paul Liberman sold 88,441 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.64, for a total transaction of $3,152,037.24. Following the sale, the insider now owns 2,498,483 shares of the company’s stock, valued at $89,045,934.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $35.25, for a total transaction of $7,050,000.00. Following the sale, the insider now directly owns 2,678,082 shares in the company, valued at $94,402,390.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,132,095 shares of company stock valued at $42,890,328 in the last 90 days. 51.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DraftKings

A number of institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its stake in DraftKings by 94.0% in the 3rd quarter. Blue Trust Inc. now owns 10,104 shares of the company’s stock valued at $386,000 after acquiring an additional 4,897 shares during the period. Stratos Wealth Advisors LLC grew its stake in DraftKings by 7.3% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 27,513 shares of the company’s stock valued at $1,079,000 after acquiring an additional 1,877 shares during the period. V Square Quantitative Management LLC acquired a new stake in DraftKings in the 3rd quarter valued at $46,000. Bleakley Financial Group LLC grew its stake in DraftKings by 3.7% in the 3rd quarter. Bleakley Financial Group LLC now owns 28,023 shares of the company’s stock valued at $1,098,000 after acquiring an additional 996 shares during the period. Finally, Global Retirement Partners LLC lifted its holdings in DraftKings by 0.6% in the 3rd quarter. Global Retirement Partners LLC now owns 47,067 shares of the company’s stock valued at $1,845,000 after purchasing an additional 273 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

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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