Zacks: Analysts Anticipate Draftkings Inc (NASDAQ:DKNG) Will Announce Earnings of -$0.10 Per Share

Equities research analysts expect Draftkings Inc (NASDAQ:DKNG) to announce ($0.10) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Draftkings’ earnings. The company is expected to report its next quarterly earnings report on Friday, August 21st.

On average, analysts expect that Draftkings will report full year earnings of ($0.62) per share for the current fiscal year. For the next year, analysts forecast that the company will post earnings of ($0.69) per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Draftkings.

Draftkings (NASDAQ:DKNG) last announced its earnings results on Friday, May 15th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.15.

DKNG has been the topic of several recent research reports. Oppenheimer assumed coverage on shares of Draftkings in a research note on Wednesday, July 1st. They set a “buy” rating and a $46.00 target price on the stock. Stephens assumed coverage on shares of Draftkings in a research report on Tuesday, June 30th. They set an “overweight” rating and a $52.00 price target on the stock. Canaccord Genuity increased their price objective on shares of Draftkings from $35.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. They noted that the move was a valuation call. Morgan Stanley boosted their target price on Draftkings from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Finally, Cannonball Research started coverage on Draftkings in a research report on Tuesday, May 26th. They set a “buy” rating and a $35.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. Draftkings presently has a consensus rating of “Buy” and a consensus target price of $43.67.

NASDAQ DKNG opened at $33.10 on Friday. The company has a fifty day moving average price of $36.24. Draftkings has a one year low of $9.76 and a one year high of $44.79.

In other Draftkings news, Director Woodrow Levin sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $38.80, for a total value of $1,940,000.00. Following the sale, the director now owns 229,810 shares of the company’s stock, valued at $8,916,628. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jason Robins sold 548,862 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $38.80, for a total value of $21,295,845.60. Following the completion of the sale, the insider now directly owns 758,050 shares in the company, valued at approximately $29,412,340. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,471,338 shares of company stock worth $57,087,914.

A hedge fund recently bought a new stake in Draftkings stock. Fulton Bank N. A. purchased a new position in shares of Draftkings Inc (NASDAQ:DKNG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,167 shares of the company’s stock, valued at approximately $239,000. 10.07% of the stock is currently owned by institutional investors.

About Draftkings

DraftKings Inc operates as a digital sports entertainment and gaming company. It provides users with daily sports, sports betting, and iGaming opportunities. It is also involved the design and development of sports betting and casino gaming platform software for online and retail sportsbook, and casino gaming products.

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