DraftKings (NASDAQ:DKNG) PT Raised to $52.00 at Barclays

DraftKings (NASDAQ:DKNG) had its price objective boosted by Barclays from $50.00 to $52.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 25.24% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Wells Fargo & Company boosted their price target on DraftKings from $39.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. Bank Of America (Bofa) raised their price target on shares of DraftKings from $45.00 to $50.00 in a research report on Thursday, February 15th. BNP Paribas lowered shares of DraftKings from a “neutral” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research note on Friday, January 19th. Stifel Nicolaus upgraded shares of DraftKings from a “hold” rating to a “buy” rating and boosted their target price for the company from $40.00 to $45.00 in a research report on Friday, January 19th. Finally, BMO Capital Markets lifted their price objective on DraftKings from $43.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $47.00.

DraftKings Stock Down 0.3 %

Shares of DKNG stock traded down $0.12 during trading hours on Friday, reaching $41.52. 2,616,178 shares of the company’s stock were exchanged, compared to its average volume of 11,737,472. DraftKings has a 1 year low of $20.26 and a 1 year high of $49.57. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.49. The stock has a market cap of $35.98 billion, a PE ratio of -23.79 and a beta of 1.86. The stock’s fifty day moving average price is $43.84 and its two-hundred day moving average price is $37.84.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings results on Friday, February 16th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.16). The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. DraftKings had a negative return on equity of 87.24% and a negative net margin of 21.88%. The company’s quarterly revenue was up 43.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.53) EPS. Research analysts predict that DraftKings will post -0.25 EPS for the current year.

Insider Activity

In other DraftKings news, insider R Stanton Dodge sold 686,101 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $43.06, for a total transaction of $29,543,509.06. Following the completion of the sale, the insider now owns 200,239 shares of the company’s stock, valued at $8,622,291.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other DraftKings news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $37.82, for a total transaction of $7,564,000.00. Following the transaction, the insider now directly owns 3,815,698 shares in the company, valued at $144,309,698.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R Stanton Dodge sold 686,101 shares of DraftKings stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $43.06, for a total value of $29,543,509.06. Following the completion of the transaction, the insider now directly owns 200,239 shares of the company’s stock, valued at $8,622,291.34. The disclosure for this sale can be found here. Insiders sold a total of 1,596,101 shares of company stock valued at $65,685,509 in the last 90 days. Company insiders own 51.19% of the company’s stock.

Institutional Investors Weigh In On DraftKings

Hedge funds have recently bought and sold shares of the stock. Highlander Capital Management LLC raised its stake in DraftKings by 180.0% in the fourth quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock valued at $25,000 after buying an additional 450 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in DraftKings in the 4th quarter valued at $26,000. Parkside Financial Bank & Trust boosted its stake in DraftKings by 233.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,014 shares of the company’s stock worth $27,000 after purchasing an additional 710 shares during the period. O Dell Group LLC purchased a new stake in shares of DraftKings in the fourth quarter valued at about $28,000. Finally, Montag A & Associates Inc. purchased a new position in shares of DraftKings during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

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.