Draftkings (NASDAQ:DKNG) Price Target Increased to $60.00 by Analysts at Craig Hallum

Draftkings (NASDAQ:DKNG) had its target price upped by Craig Hallum from $48.00 to $60.00 in a research note published on Tuesday, The Fly reports.

Other research analysts have also issued reports about the stock. BofA Securities assumed coverage on shares of Draftkings in a research note on Tuesday, September 8th. They set a neutral rating and a $40.00 price target on the stock. Susquehanna Bancshares boosted their target price on Draftkings from $35.00 to $48.00 in a research report on Wednesday, June 3rd. Evercore ISI assumed coverage on Draftkings in a research note on Wednesday, September 9th. They set an outperform rating and a $60.00 target price for the company. Bank of America began coverage on Draftkings in a research note on Tuesday, September 8th. They issued a neutral rating and a $40.00 price target on the stock. Finally, Wolfe Research started coverage on Draftkings in a research report on Monday. They issued a peer perform rating for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $47.76.

Shares of DKNG stock traded up $3.78 during midday trading on Tuesday, hitting $51.99. The company had a trading volume of 495,267 shares, compared to its average volume of 8,887,649. The stock has a 50 day simple moving average of $36.27. Draftkings has a 52-week low of $9.84 and a 52-week high of $49.88.

Draftkings (NASDAQ:DKNG) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.40). Research analysts expect that Draftkings will post -1.24 EPS for the current year.

In other Draftkings news, insider Jason Robins sold 548,862 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $38.80, for a total transaction of $21,295,845.60. Following the sale, the insider now owns 758,050 shares in the company, valued at approximately $29,412,340. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul Liberman sold 796,348 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $38.80, for a total value of $30,898,302.40. Following the transaction, the insider now directly owns 106,021 shares of the company’s stock, valued at approximately $4,113,614.80. The disclosure for this sale can be found here. Insiders sold a total of 1,471,338 shares of company stock worth $57,087,914 over the last quarter.

Large investors have recently modified their holdings of the company. Blair William & Co. IL purchased a new stake in Draftkings during the 2nd quarter worth about $310,000. Wesbanco Bank Inc. purchased a new stake in shares of Draftkings during the second quarter worth about $948,000. Telemus Capital LLC purchased a new stake in shares of Draftkings during the second quarter worth about $333,000. Kistler Tiffany Companies LLC acquired a new position in shares of Draftkings in the second quarter valued at approximately $52,000. Finally, Wedbush Securities Inc. purchased a new position in shares of Draftkings during the second quarter valued at approximately $346,000. Institutional investors and hedge funds own 51.47% of the company’s stock.

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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The Fly

Analyst Recommendations for Draftkings (NASDAQ:DKNG)

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