DraftKings Inc. (NASDAQ:DKNG) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of DraftKings Inc. (NASDAQ:DKNG) have received an average recommendation of “Moderate Buy” from the twenty-six analysts that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and twenty-three have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $51.00.

A number of research firms have issued reports on DKNG. Susquehanna boosted their price objective on shares of DraftKings from $48.00 to $50.00 and gave the company a “positive” rating in a research report on Monday, October 7th. Barclays boosted their price target on DraftKings from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of DraftKings in a report on Friday, November 8th. Morgan Stanley boosted their target price on DraftKings from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Mizuho raised their price target on DraftKings from $54.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th.

Insider Activity at DraftKings

In other DraftKings news, insider Paul Liberman sold 88,441 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $36.41, for a total value of $3,220,136.81. Following the completion of the transaction, the insider now owns 1,923,483 shares of the company’s stock, valued at approximately $70,034,016.03. The trade was a 4.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason Robins sold 3,151 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $43.71, for a total transaction of $137,730.21. Following the sale, the insider now directly owns 2,631,033 shares in the company, valued at approximately $115,002,452.43. The trade was a 0.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 852,183 shares of company stock valued at $33,503,025. 48.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DKNG. Marshall Wace LLP raised its stake in DraftKings by 53.3% during the 2nd quarter. Marshall Wace LLP now owns 9,410,431 shares of the company’s stock valued at $359,196,000 after buying an additional 3,269,932 shares during the last quarter. Jupiter Asset Management Ltd. increased its position in DraftKings by 1,261.7% during the second quarter. Jupiter Asset Management Ltd. now owns 1,612,405 shares of the company’s stock valued at $61,545,000 after acquiring an additional 1,493,995 shares during the last quarter. Fred Alger Management LLC lifted its holdings in DraftKings by 46.6% in the third quarter. Fred Alger Management LLC now owns 4,643,852 shares of the company’s stock valued at $182,039,000 after acquiring an additional 1,476,003 shares during the period. Blue Whale Capital LLP purchased a new position in DraftKings in the second quarter worth about $39,306,000. Finally, AQR Capital Management LLC grew its stake in shares of DraftKings by 29.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,877,581 shares of the company’s stock valued at $144,905,000 after purchasing an additional 870,789 shares during the period. Institutional investors own 37.70% of the company’s stock.

DraftKings Trading Down 1.4 %

Shares of DKNG stock opened at $37.92 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50-day moving average of $40.29 and a 200 day moving average of $38.13. The stock has a market capitalization of $33.39 billion, a PE ratio of -43.09 and a beta of 1.87. DraftKings has a 1-year low of $28.69 and a 1-year high of $49.57.

DraftKings (NASDAQ:DKNG) last issued its earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.18). DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. As a group, sell-side analysts anticipate that DraftKings will post -0.79 earnings per share for the current year.

DraftKings Company Profile

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.