DraftKings (NASDAQ:DKNG) PT Lowered to $24.00 at Oppenheimer

DraftKings (NASDAQ:DKNG – Get Rating) had its price objective decreased by equities researchers at Oppenheimer from $32.00 to $24.00 in a note issued to investors on Monday, The Fly reports. Oppenheimer’s target price suggests a potential upside of 82.51% from the company’s current price.

Several other equities analysts have also weighed in on DKNG. Canaccord Genuity Group cut their price target on DraftKings from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, February 22nd. Citigroup lowered their price objective on DraftKings from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, February 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on DraftKings from $19.00 to $16.00 in a report on Monday. UBS Group lowered their price objective on DraftKings from $44.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, March 17th. Finally, Craig Hallum lowered their price objective on DraftKings from $51.00 to $40.00 in a report on Tuesday, February 22nd. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $39.81.

Shares of DraftKings stock opened at $13.15 on Monday. The company has a quick ratio of 2.96, a current ratio of 2.96 and a debt-to-equity ratio of 0.74. DraftKings has a twelve month low of $12.97 and a twelve month high of $64.58. The business has a 50-day moving average price of $17.40 and a 200 day moving average price of $25.71. The firm has a market cap of $10.54 billion, a PE ratio of -3.48 and a beta of 2.07.

DraftKings (NASDAQ:DKNG – Get Rating) last announced its quarterly earnings results on Friday, February 18th. The company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($0.82) by $0.02. DraftKings had a negative return on equity of 75.86% and a negative net margin of 117.53%. The firm had revenue of $473.33 million during the quarter, compared to analyst estimates of $438.46 million. During the same quarter in the previous year, the business earned ($0.69) EPS. On average, sell-side analysts expect that DraftKings will post -3.88 EPS for the current year.

In other DraftKings news, CFO Jason Park sold 199,081 shares of the business’s stock in a transaction that occurred on Wednesday, February 23rd. The stock was sold at an average price of $20.26, for a total value of $4,033,381.06. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider R Stanton Dodge sold 191,501 shares of the business’s stock in a transaction that occurred on Thursday, February 24th. The shares were sold at an average price of $19.77, for a total value of $3,785,974.77. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 190,000 shares of company stock worth $3,608,000 and have sold 1,316,922 shares worth $25,319,815. 55.92% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the company. Quent Capital LLC purchased a new stake in shares of DraftKings during the fourth quarter worth $25,000. Widmann Financial Services Inc. purchased a new stake in shares of DraftKings during the fourth quarter worth $27,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of DraftKings during the fourth quarter worth $27,000. Benjamin Edwards Inc. increased its position in shares of DraftKings by 99.7% during the fourth quarter. Benjamin Edwards Inc. now owns 1,216 shares of the company’s stock worth $33,000 after acquiring an additional 607 shares during the period. Finally, KRS Capital Management LLC purchased a new stake in shares of DraftKings during the fourth quarter worth $35,000. 33.91% of the stock is currently owned by institutional investors and hedge funds.

DraftKings Company Profile (Get Rating)

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It operates through two segments, Business-to-Consumer and Business-to-Business. The company provides users with daily fantasy sports, sports betting, and iGaming opportunities, as well as media and other online consumer products.

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