DraftKings (DKNG) Projected to Post Earnings on Thursday

DraftKings (NASDAQ:DKNG) is expected to be issuing its Q1 2025 quarterly earnings data after the market closes on Thursday, May 8th. Analysts expect the company to announce earnings of $0.23 per share and revenue of $1.54 billion for the quarter. DraftKings has set its FY 2025 guidance at EPS.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.35). DraftKings had a negative return on equity of 48.13% and a negative net margin of 10.64%. On average, analysts expect DraftKings to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

DraftKings Stock Down 1.6 %

Shares of DraftKings stock opened at $33.60 on Wednesday. DraftKings has a twelve month low of $28.69 and a twelve month high of $53.61. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24. The company’s 50 day moving average is $35.89 and its 200 day moving average is $39.32. The company has a market cap of $29.66 billion, a price-to-earnings ratio of -31.69, a price-to-earnings-growth ratio of 1.43 and a beta of 1.89.

Analysts Set New Price Targets

DKNG has been the subject of several research reports. TD Cowen reduced their price target on shares of DraftKings from $55.00 to $51.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Piper Sandler reiterated an “overweight” rating and set a $60.00 price target (up previously from $48.00) on shares of DraftKings in a research note on Tuesday, February 18th. Truist Financial reduced their price objective on DraftKings from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Mizuho cut their price target on DraftKings from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of DraftKings in a research note on Thursday, April 24th. Two analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.18.

Insider Buying and Selling

In related news, insider Paul Liberman sold 643,654 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $38.95, for a total value of $25,070,323.30. Following the transaction, the insider now owns 682,764 shares of the company’s stock, valued at $26,593,657.80. This trade represents a 48.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider R Stanton Dodge sold 52,777 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $34.04, for a total transaction of $1,796,529.08. Following the completion of the sale, the insider now directly owns 549,197 shares of the company’s stock, valued at approximately $18,694,665.88. This trade represents a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,681,079 shares of company stock valued at $112,941,617. Company insiders own 51.19% of the company’s stock.

About DraftKings

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.