Stifel Nicolaus Cuts DraftKings (NASDAQ:DKNG) Price Target to $50.00

by · The Markets Daily

DraftKings (NASDAQ:DKNG – Free Report) had its price objective trimmed by Stifel Nicolaus from $51.00 to $50.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft set a $47.00 target price on DraftKings and gave the company a “hold” rating in a research report on Friday, August 8th. UBS Group decreased their target price on DraftKings from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. Susquehanna decreased their target price on DraftKings from $64.00 to $59.00 and set a “positive” rating for the company in a research report on Tuesday, October 14th. Northland Securities set a $30.00 target price on DraftKings in a research report on Monday, October 13th. Finally, Citigroup reissued a “neutral” rating on shares of DraftKings in a research report on Wednesday, October 1st. Twenty-seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.79.

Get Our Latest Stock Analysis on DraftKings

DraftKings Trading Down 1.6%

NASDAQ:DKNG opened at $30.65 on Monday. The stock has a 50-day simple moving average of $40.39 and a 200-day simple moving average of $39.64. The stock has a market cap of $15.22 billion, a P/E ratio of -47.15, a P/E/G ratio of 0.97 and a beta of 1.99. DraftKings has a 1 year low of $29.64 and a 1 year high of $53.61. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.34 and a current ratio of 1.34.

DraftKings (NASDAQ:DKNG – Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.14. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.39 billion. DraftKings had a negative return on equity of 30.06% and a negative net margin of 5.63%.The business’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 EPS. DraftKings has set its FY 2025 guidance at EPS. As a group, analysts anticipate that DraftKings will post 0.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DraftKings news, insider R Stanton Dodge sold 105,554 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $44.60, for a total value of $4,707,708.40. Following the transaction, the insider directly owned 500,000 shares of the company’s stock, valued at $22,300,000. This trade represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ryan R. Moore sold 76,390 shares of DraftKings stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $45.92, for a total value of $3,507,828.80. Following the sale, the director directly owned 402 shares in the company, valued at approximately $18,459.84. The trade was a 99.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 605,554 shares of company stock valued at $26,515,100 over the last ninety days. Insiders own 51.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of DraftKings by 1.6% in the second quarter. Vanguard Group Inc. now owns 43,761,344 shares of the company’s stock worth $1,876,924,000 after acquiring an additional 670,884 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of DraftKings by 0.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 18,700,071 shares of the company’s stock worth $621,030,000 after acquiring an additional 130,434 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of DraftKings by 5.4% in the second quarter. Geode Capital Management LLC now owns 9,014,088 shares of the company’s stock worth $385,552,000 after acquiring an additional 458,452 shares in the last quarter. Norges Bank acquired a new position in shares of DraftKings in the second quarter worth about $362,554,000. Finally, Baillie Gifford & Co. lifted its stake in shares of DraftKings by 26.5% in the first quarter. Baillie Gifford & Co. now owns 8,390,236 shares of the company’s stock worth $278,640,000 after acquiring an additional 1,756,778 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

DraftKings Company Profile

(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.

Featured Stories