DraftKings (NASDAQ:DKNG) PT Raised to $35.00 at Deutsche Bank Aktiengesellschaft

DraftKings (NASDAQ:DKNG) had its target price raised by investment analysts at Deutsche Bank Aktiengesellschaft from $34.00 to $35.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential downside of 19.69% from the company’s previous close.

A number of other research analysts have also weighed in on DKNG. Susquehanna raised their price objective on DraftKings from $54.00 to $56.00 and gave the company a “positive” rating in a research report on Monday, April 29th. BNP Paribas lowered DraftKings from a “neutral” rating to an “underperform” rating and set a $28.00 price target for the company. in a research report on Friday, January 19th. BMO Capital Markets raised their price objective on shares of DraftKings from $51.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday. Wells Fargo & Company upped their target price on shares of DraftKings from $39.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $55.00 price objective on shares of DraftKings in a report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, DraftKings currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.07.

DraftKings Stock Up 4.2 %

Shares of NASDAQ:DKNG traded up $1.76 during trading on Monday, hitting $43.58. The stock had a trading volume of 10,900,656 shares, compared to its average volume of 11,713,813. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.49. DraftKings has a 12 month low of $22.65 and a 12 month high of $49.57. The company has a market capitalization of $37.77 billion, a PE ratio of -36.78 and a beta of 1.87. The firm’s fifty day moving average is $43.58 and its 200 day moving average is $38.92.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.02). The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.12 billion. DraftKings had a negative net margin of 13.45% and a negative return on equity of 61.75%. The business’s quarterly revenue was up 52.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.87) EPS. Analysts anticipate that DraftKings will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $40.91, for a total transaction of $8,182,000.00. Following the completion of the transaction, the insider now directly owns 3,043,231 shares of the company’s stock, valued at $124,498,580.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $40.91, for a total transaction of $8,182,000.00. Following the sale, the insider now directly owns 3,043,231 shares in the company, valued at approximately $124,498,580.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R Stanton Dodge sold 686,101 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $43.06, for a total transaction 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 approximately $8,622,291.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,086,101 shares of company stock valued at $45,903,509. Corporate insiders own 48.94% of the company’s stock.

Institutional Trading of DraftKings

Institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. boosted its position in shares of DraftKings by 8.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 89,121 shares of the company’s stock valued at $2,624,000 after buying an additional 6,965 shares during the period. Robeco Institutional Asset Management B.V. grew its position in DraftKings by 178.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 48,022 shares of the company’s stock valued at $1,414,000 after acquiring an additional 30,802 shares during the last quarter. Bank of New York Mellon Corp increased its stake in DraftKings by 7.7% in the third quarter. Bank of New York Mellon Corp now owns 1,256,030 shares of the company’s stock worth $36,978,000 after purchasing an additional 90,004 shares during the period. Brown Advisory Inc. bought a new stake in shares of DraftKings during the third quarter worth $209,000. Finally, Forsta AP Fonden purchased a new stake in shares of DraftKings during the third quarter valued at $2,703,000. 37.70% of the stock is currently owned by institutional investors.

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.