DraftKings (NASDAQ:DKNG) Now Covered by Analysts at Stifel Nicolaus

Stifel Nicolaus assumed coverage on shares of DraftKings (NASDAQ:DKNG – Get Rating) in a research report report published on Monday morning, The Fly reports. The firm issued a hold rating on the stock.

DKNG has been the topic of a number of other research reports. Truist Financial lowered their price target on DraftKings from $20.00 to $15.00 and set a hold rating on the stock in a research report on Tuesday, October 25th. Canaccord Genuity Group lowered their price target on DraftKings from $32.00 to $28.00 and set a buy rating on the stock in a research report on Monday, November 7th. Benchmark lowered their price target on DraftKings from $30.00 to $23.00 and set a buy rating on the stock in a research report on Wednesday, October 12th. Exane BNP Paribas started coverage on DraftKings in a research report on Thursday, October 6th. They set an underperform rating on the stock. Finally, Guggenheim lowered their price target on DraftKings from $31.00 to $27.00 and set a buy rating on the stock in a research report on Monday, November 7th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $21.96.

DraftKings Stock Up 4.9 %

Shares of DKNG opened at $14.56 on Monday. DraftKings has a 52 week low of $9.77 and a 52 week high of $25.01. The company has a market capitalization of $12.26 billion, a price-to-earnings ratio of -4.23 and a beta of 1.81. The stock’s 50-day moving average price is $13.40 and its 200-day moving average price is $14.73.

DraftKings (NASDAQ:DKNG – Get Rating) last issued its earnings results on Friday, November 4th. The company reported ($1.00) EPS for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.07. DraftKings had a negative return on equity of 87.08% and a negative net margin of 78.64%. The firm had revenue of $501.94 million for the quarter, compared to the consensus estimate of $436.21 million. As a group, equities analysts anticipate that DraftKings will post -3.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Walker Asset Management LLC purchased a new position in DraftKings in the second quarter worth approximately $403,000. Belpointe Asset Management LLC grew its position in DraftKings by 4.5% in the second quarter. Belpointe Asset Management LLC now owns 22,610 shares of the company’s stock worth $264,000 after acquiring an additional 979 shares during the period. Victory Capital Management Inc. grew its position in DraftKings by 3.0% in the second quarter. Victory Capital Management Inc. now owns 306,023 shares of the company’s stock worth $3,571,000 after acquiring an additional 8,938 shares during the period. McDonald Partners LLC grew its position in DraftKings by 12.1% in the second quarter. McDonald Partners LLC now owns 16,236 shares of the company’s stock worth $189,000 after acquiring an additional 1,758 shares during the period. Finally, Ieq Capital LLC purchased a new position in DraftKings in the second quarter worth approximately $222,000. 30.60% of the stock is currently owned by hedge funds and other institutional investors.

DraftKings Company Profile

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DraftKings Inc operates a digital sports entertainment and gaming company. It offers multi-channel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. The company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states.