Draftkings Inc (NASDAQ:DKNG) Given Consensus Rating of “Buy” by Analysts

Shares of Draftkings Inc (NASDAQ:DKNG) have received a consensus recommendation of “Buy” from the thirteen brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $44.73.

Several research firms have recently weighed in on DKNG. Susquehanna Bancshares increased their price objective on Draftkings from $35.00 to $48.00 in a research report on Wednesday, June 3rd. Goldman Sachs Group raised their price target on shares of Draftkings from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Rosenblatt Securities began coverage on shares of Draftkings in a research note on Thursday, June 25th. They issued a “buy” rating and a $60.00 target price for the company. Northland Securities reissued a “buy” rating on shares of Draftkings in a research report on Sunday, June 7th. Finally, Oppenheimer assumed coverage on Draftkings in a report on Sunday, July 26th. They issued a “buy” rating and a $46.00 price target for the company.

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

Several large investors have recently bought and sold shares of DKNG. National Asset Management Inc. bought a new stake in Draftkings during the 2nd quarter worth approximately $256,000. Sigma Planning Corp bought a new position in Draftkings in the 2nd quarter valued at $557,000. Texas Yale Capital Corp. acquired a new position in Draftkings in the second quarter worth $5,737,000. Flagship Harbor Advisors LLC bought a new stake in shares of Draftkings during the second quarter worth $55,000. Finally, Bainco International Investors bought a new stake in shares of Draftkings during the second quarter worth $333,000. Institutional investors own 9.25% of the company’s stock.

Shares of NASDAQ:DKNG opened at $33.38 on Tuesday. The company has a 50-day simple moving average of $35.54. Draftkings has a 52-week low of $9.76 and a 52-week high of $44.79.

Draftkings (NASDAQ:DKNG) last announced its earnings results on Friday, May 15th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.15. Sell-side analysts predict that Draftkings will post -0.7 EPS for the current year.

Draftkings Company Profile

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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Analyst Recommendations for Draftkings (NASDAQ:DKNG)

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