Draftkings (NASDAQ:DKNG) Now Covered by Stephens

Research analysts at Stephens began coverage on shares of Draftkings (NASDAQ:DKNG) in a report issued on Tuesday, The Fly reports. The firm set an “overweight” rating and a $52.00 price target on the stock. Stephens’ price objective would indicate a potential upside of 56.34% from the company’s previous close.

A number of other brokerages have also weighed in on DKNG. Rosenblatt Securities began coverage on shares of Draftkings in a report on Thursday, June 25th. They issued a “buy” rating and a $60.00 price objective for the company. Cannonball Research started coverage on Draftkings in a research note on Tuesday, May 26th. They issued a “buy” rating and a $35.00 price target for the company. Goldman Sachs Group increased their price objective on Draftkings from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, June 24th. Morgan Stanley upped their target price on shares of Draftkings from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Finally, Susquehanna Bancshares raised their price target on shares of Draftkings from $35.00 to $48.00 in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the stock. Draftkings has a consensus rating of “Buy” and an average target price of $43.83.

Draftkings stock opened at $33.26 on Tuesday. Draftkings has a 12 month low of $9.76 and a 12 month high of $44.79. The business has a fifty day moving average of $35.38.

Draftkings (NASDAQ:DKNG) last announced its quarterly earnings results on Friday, May 15th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.15. On average, sell-side analysts anticipate that Draftkings will post -0.7 EPS for the current fiscal year.

In other news, CFO Jason Park sold 76,128 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $38.80, for a total value of $2,953,766.40. Following the transaction, the chief financial officer now owns 14,497 shares of the company’s stock, valued at $562,483.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Liberman sold 796,348 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 value of $30,898,302.40. Following the transaction, the insider now directly owns 106,021 shares in the company, valued at $4,113,614.80. The disclosure for this sale can be found here. Insiders sold 1,471,338 shares of company stock worth $57,087,914 over the last quarter.

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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