DraftKings Inc. (NASDAQ:DKNG) Receives $53.00 Consensus Price Target from Analysts

by · The Markets Daily

DraftKings Inc. (NASDAQ:DKNG – Get Free Report) has been given a consensus rating of “Moderate Buy” by the thirty-one brokerages that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and twenty-seven have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $52.8276.

DKNG has been the subject of several recent research reports. Barclays reiterated an “overweight” rating and set a $54.00 target price (up previously from $51.00) on shares of DraftKings in a research note on Friday, August 8th. Susquehanna decreased their target price on shares of DraftKings from $64.00 to $59.00 and set a “positive” rating for the company in a research note on Tuesday, October 14th. Benchmark reiterated a “buy” rating on shares of DraftKings in a research note on Wednesday. Mizuho decreased their target price on shares of DraftKings from $58.00 to $54.00 and set an “outperform” rating for the company in a research note on Tuesday, October 7th. Finally, JMP Securities decreased their target price on shares of DraftKings from $54.00 to $51.00 and set a “market outperform” rating for the company in a research note on Wednesday, October 1st.

Get Our Latest Analysis on DraftKings

Insider Activity

In related news, insider Matthew Kalish sold 210,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $42.90, for a total transaction of $9,009,000.00. Following the completion of the transaction, the insider directly owned 4,190,233 shares of the company’s stock, valued at $179,760,995.70. This represents a 4.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jocelyn Moore sold 4,861 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $43.21, for a total transaction of $210,043.81. Following the transaction, the director directly owned 1,461 shares of the company’s stock, valued at $63,129.81. This represents a 76.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 605,554 shares of company stock valued at $26,515,100 over the last ninety days. 51.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Brown Advisory Inc. raised its holdings in DraftKings by 14.6% during the first quarter. Brown Advisory Inc. now owns 7,600 shares of the company’s stock worth $252,000 after purchasing an additional 968 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in DraftKings by 9.3% during the first quarter. IFM Investors Pty Ltd now owns 83,750 shares of the company’s stock worth $2,781,000 after purchasing an additional 7,147 shares in the last quarter. Capital Investment Advisory Services LLC purchased a new position in DraftKings during the first quarter worth about $515,000. Allspring Global Investments Holdings LLC increased its holdings in DraftKings by 18.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,728,482 shares of the company’s stock valued at $90,558,000 after buying an additional 434,525 shares in the last quarter. Finally, Kentucky Retirement Systems purchased a new position in DraftKings in the first quarter valued at about $1,026,000. 37.70% of the stock is owned by hedge funds and other institutional investors.

DraftKings Stock Performance

NASDAQ DKNG opened at $34.70 on Friday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.34 and a quick ratio of 1.34. DraftKings has a 1 year low of $29.64 and a 1 year high of $53.61. The company has a market capitalization of $17.23 billion, a PE ratio of -53.38, a P/E/G ratio of 0.87 and a beta of 1.99. The company has a fifty day moving average of $41.46 and a two-hundred day moving average of $39.62.

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, beating the consensus estimate of $0.16 by $0.14. DraftKings had a negative net margin of 5.63% and a negative return on equity of 30.06%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the firm posted $0.12 earnings per share. DraftKings’s revenue for the quarter was up 36.9% on a year-over-year basis. DraftKings has set its FY 2025 guidance at EPS. As a group, analysts expect that DraftKings will post 0.64 earnings per share for the current year.

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.

Featured Stories