Draftkings (NASDAQ:DKNG) Price Target Raised to $57.00 at Benchmark

Draftkings (NASDAQ:DKNG) had its target price raised by Benchmark from $45.00 to $57.00 in a research report released on Tuesday, The Fly reports. They currently have a buy rating on the stock.

A number of other equities analysts have also commented on DKNG. BidaskClub upgraded shares of Draftkings from a buy rating to a strong-buy rating in a report on Tuesday. Wolfe Research began coverage on shares of Draftkings in a research report on Monday. They issued a peer perform rating for the company. Jefferies Financial Group reissued a buy rating and issued a $55.00 target price on shares of Draftkings in a research report on Monday, August 17th. Evercore ISI started coverage on shares of Draftkings in a research report on Wednesday, September 9th. They issued an outperform rating and a $60.00 target price for the company. Finally, Canaccord Genuity reaffirmed a buy rating on shares of Draftkings in a research report on Monday, August 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $47.76.

Shares of DKNG stock opened at $48.21 on Tuesday. Draftkings has a 12 month low of $9.84 and a 12 month high of $49.88. The business has a fifty day moving average price of $36.27.

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

In related news, insider Jason Robins sold 548,862 shares of the company’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 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 can be accessed through this hyperlink. Also, CFO Jason Park sold 76,128 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $38.80, for a total transaction of $2,953,766.40. Following the completion of the sale, the chief financial officer now owns 14,497 shares of the company’s stock, valued at approximately $562,483.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,471,338 shares of company stock valued at $57,087,914.

Large investors have recently modified their holdings of the stock. US Bancorp DE purchased a new stake in shares of Draftkings in the 2nd quarter valued at approximately $26,000. Bedel Financial Consulting Inc. acquired a new position in Draftkings in the 2nd quarter valued at approximately $27,000. tru Independence LLC acquired a new position in Draftkings in the 2nd quarter valued at approximately $28,000. Edge Wealth Management LLC acquired a new position in Draftkings in the 2nd quarter valued at approximately $38,000. Finally, Signaturefd LLC acquired a new position in Draftkings in the 2nd quarter valued at approximately $49,000. 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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Analyst Recommendations for Draftkings (NASDAQ:DKNG)

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