DraftKings (NASDAQ:DKNG) Price Target Raised to $50.00

by · The Cerbat Gem

DraftKings (NASDAQ:DKNG – Get Free Report) had its price target upped by BMO Capital Markets from $42.00 to $50.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 109.61% from the stock’s previous close.

DKNG has been the subject of a number of other reports. Texas Capital upgraded DraftKings to a “hold” rating in a report on Thursday, January 8th. JPMorgan Chase & Co. decreased their price objective on shares of DraftKings from $41.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, February 17th. Needham & Company LLC reiterated a “buy” rating and set a $35.00 target price on shares of DraftKings in a research note on Tuesday. Susquehanna set a $33.00 target price on shares of DraftKings in a report on Tuesday, February 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DraftKings in a report on Wednesday, January 21st. Twenty-five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.12.

Check Out Our Latest Research Report on DKNG

DraftKings Stock Up 0.1%

DKNG traded up $0.03 during trading on Tuesday, hitting $23.85. The company had a trading volume of 1,390,329 shares, compared to its average volume of 15,864,381. DraftKings has a 1-year low of $21.01 and a 1-year high of $48.78. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $11.76 billion, a PE ratio of -595.38, a P/E/G ratio of 0.98 and a beta of 1.67. The business has a 50-day moving average of $29.57 and a 200-day moving average of $34.48.

Insider Transactions at DraftKings

In other DraftKings news, Director Harry Sloan purchased 100,000 shares of the stock in a transaction dated Tuesday, February 17th. The shares were bought at an average cost of $21.85 per share, with a total value of $2,185,000.00. Following the completion of the acquisition, the director owned 350,219 shares of the company’s stock, valued at approximately $7,652,285.15. This trade represents a 39.96% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Erik Bradbury sold 7,268 shares of DraftKings stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $22.50, for a total transaction of $163,530.00. Following the sale, the chief accounting officer owned 36,736 shares in the company, valued at approximately $826,560. This represents a 16.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 47.08% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new stake in DraftKings in the fourth quarter worth about $69,000. MidFirst Bank acquired a new position in shares of DraftKings in the 4th quarter worth approximately $325,000. Virtu Financial LLC bought a new stake in shares of DraftKings in the 4th quarter worth approximately $528,000. Compound Planning Inc. acquired a new stake in DraftKings during the fourth quarter valued at approximately $2,079,000. Finally, Evansbrook LLC acquired a new stake in DraftKings during the fourth quarter valued at approximately $2,090,000. Institutional investors own 37.70% of the company’s stock.

DraftKings News Roundup

Here are the key news stories impacting DraftKings this week:

DraftKings Company Profile

(Get Free Report)

DraftKings Inc is a leading digital sports entertainment and gaming company specializing in daily fantasy sports, sports betting and iGaming products. The company provides an integrated platform where users can participate in daily fantasy contests, place wagers on professional sports events, and enjoy a range of online casino-style games. DraftKings’ proprietary technology supports real-time odds, live scoring and advanced analytics to enhance the user experience across mobile and desktop applications.

Founded in 2012 by co-founders Jason Robins, Matthew Kalish and Paul Liberman, DraftKings began as a daily fantasy sports provider and rapidly expanded into regulated sports betting following legislative changes in the United States.

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