DraftKings (NASDAQ:DKNG) Given New $50.00 Price Target at Susquehanna

by · The Cerbat Gem

DraftKings (NASDAQ:DKNG – Free Report) had its price target hoisted by Susquehanna from $48.00 to $50.00 in a report issued on Monday, MarketBeat Ratings reports. They currently have a positive rating on the stock.

A number of other equities research analysts also recently commented on the company. Stifel Nicolaus reiterated a buy rating and issued a $48.00 target price (down from $50.00) on shares of DraftKings in a research report on Monday, August 5th. Morgan Stanley reiterated an overweight rating and set a $47.00 target price on shares of DraftKings in a research report on Wednesday, September 11th. The Goldman Sachs Group cut their target price on shares of DraftKings from $60.00 to $54.00 and set a buy rating for the company in a report on Monday, August 5th. BNP Paribas raised shares of DraftKings from an underperform rating to a neutral rating and set a $35.00 price target on the stock in a research note on Tuesday, September 10th. Finally, Benchmark increased their price objective on shares of DraftKings from $41.00 to $44.00 and gave the company a buy rating in a research report on Tuesday, August 20th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, DraftKings currently has a consensus rating of Moderate Buy and an average target price of $49.89.

Get Our Latest Stock Analysis on DKNG

DraftKings Trading Up 2.1 %

Shares of DKNG opened at $38.28 on Monday. The firm has a market cap of $33.27 billion, a P/E ratio of -32.44 and a beta of 1.81. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.11 and a quick ratio of 1.11. DraftKings has a 1 year low of $25.73 and a 1 year high of $49.57. The company has a 50 day simple moving average of $35.87 and a two-hundred day simple moving average of $39.04.

DraftKings (NASDAQ:DKNG – Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.13. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. DraftKings had a negative net margin of 9.45% and a negative return on equity of 43.11%. DraftKings’s quarterly revenue was up 26.2% on a year-over-year basis. During the same period last year, the company posted ($0.17) earnings per share. On average, equities analysts expect that DraftKings will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DraftKings news, insider Paul Liberman sold 643,654 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $41.24, for a total value of $26,544,290.96. Following the completion of the sale, the insider now directly owns 137,308 shares of the company’s stock, valued at $5,662,581.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Paul Liberman sold 643,654 shares of DraftKings stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $41.24, for a total transaction of $26,544,290.96. Following the completion of the sale, the insider now owns 137,308 shares of the company’s stock, valued at approximately $5,662,581.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jason Robins sold 200,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $30.72, for a total value of $6,144,000.00. Following the completion of the transaction, the insider now directly owns 2,699,815 shares in the company, valued at approximately $82,938,316.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,195,301 shares of company stock valued at $45,355,362 in the last 90 days. Company insiders own 51.19% of the company’s stock.

Institutional Trading of DraftKings

Institutional investors and hedge funds have recently made changes to their positions in the company. Winthrop Advisory Group LLC raised its holdings in shares of DraftKings by 2.4% in the 1st quarter. Winthrop Advisory Group LLC now owns 10,452 shares of the company’s stock valued at $475,000 after purchasing an additional 244 shares in the last quarter. ST Germain D J Co. Inc. raised its stake in DraftKings by 26.3% in the first quarter. ST Germain D J Co. Inc. now owns 1,200 shares of the company’s stock worth $54,000 after buying an additional 250 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in DraftKings by 21.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,651 shares of the company’s stock worth $63,000 after buying an additional 286 shares during the period. Sfmg LLC boosted its position in DraftKings by 3.9% during the 1st quarter. Sfmg LLC now owns 8,140 shares of the company’s stock valued at $370,000 after acquiring an additional 306 shares in the last quarter. Finally, Brown Lisle Cummings Inc. boosted its position in DraftKings by 32.5% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,325 shares of the company’s stock valued at $51,000 after acquiring an additional 325 shares in the last quarter. 37.70% of the stock is currently owned by institutional investors.

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.

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