DraftKings Inc. (NASDAQ:DKNG – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the twenty-seven research firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $50.22.
A number of analysts recently issued reports on the company. Morgan Stanley boosted their price target on DraftKings from $47.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Barclays upped their target price on DraftKings from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. JMP Securities restated a “market outperform” rating and set a $51.00 price target on shares of DraftKings in a research note on Monday, October 14th. BMO Capital Markets restated an “outperform” rating and issued a $48.00 price objective on shares of DraftKings in a report on Wednesday, October 16th. Finally, Bank of America cut their target price on shares of DraftKings from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd.
Get Our Latest Stock Analysis on DKNG
Insider Buying and Selling at DraftKings
Hedge Funds Weigh In On DraftKings
Large investors have recently made changes to their positions in the company. Marshall Wace LLP raised its position in shares of DraftKings by 53.3% in the second quarter. Marshall Wace LLP now owns 9,410,431 shares of the company’s stock worth $359,196,000 after acquiring an additional 3,269,932 shares during the period. Jupiter Asset Management Ltd. boosted its position in DraftKings by 1,261.7% during the second quarter. Jupiter Asset Management Ltd. now owns 1,612,405 shares of the company’s stock worth $61,545,000 after purchasing an additional 1,493,995 shares in the last quarter. Blue Whale Capital LLP purchased a new position in DraftKings during the second quarter worth approximately $39,306,000. Kodai Capital Management LP acquired a new stake in DraftKings in the first quarter valued at approximately $41,276,000. Finally, AQR Capital Management LLC increased its position in shares of DraftKings by 29.0% in the second quarter. AQR Capital Management LLC now owns 3,877,581 shares of the company’s stock valued at $144,905,000 after buying an additional 870,789 shares in the last quarter. 37.70% of the stock is currently owned by institutional investors and hedge funds.
DraftKings Trading Up 2.1 %
Shares of DKNG opened at $36.45 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $32.02 billion, a price-to-earnings ratio of -40.96 and a beta of 1.82. The company has a 50-day moving average of $37.37 and a 200 day moving average of $37.94. DraftKings has a 1-year low of $28.69 and a 1-year high of $49.57.
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.
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