DraftKings (NASDAQ:DKNG) Announces Earnings Results, Misses Estimates By $0.35 EPS


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DraftKings (NASDAQ:DKNG) posted its quarterly earnings data on Wednesday. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.63) by ($0.35), Zacks reports. The company had revenue of $132.80 million during the quarter, compared to the consensus estimate of $131.66 million. DraftKings’s revenue was up 42.3% on a year-over-year basis.

DKNG opened at $48.23 on Friday. DraftKings has a 12 month low of $10.04 and a 12 month high of $64.19. The stock has a fifty day moving average price of $45.42 and a 200-day moving average price of $38.83.

DKNG has been the subject of a number of recent analyst reports. Oppenheimer restated a “buy” rating and set a $65.00 price objective on shares of DraftKings in a report on Wednesday, November 4th. Rosenblatt Securities boosted their price objective on DraftKings from $60.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, October 13th. Cowen assumed coverage on DraftKings in a report on Thursday, October 8th. They set a “market perform” rating and a $55.00 price objective for the company. Morgan Stanley lifted their target price on DraftKings from $37.00 to $39.00 and gave the company an “equal weight” rating in a research report on Monday, November 16th. Finally, Wolfe Research assumed coverage on DraftKings in a research report on Monday, September 14th. They set a “peer perform” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have issued a buy rating to the company’s stock. DraftKings has a consensus rating of “Buy” and an average price target of $56.38.

In other news, Director Steven Joseph Murray sold 1,545,924 shares of the business’s stock in a transaction on Friday, October 9th. The stock was sold at an average price of $50.83, for a total value of $78,579,316.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

DraftKings Company Profile

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States. The company provides users with daily sports, sports betting, and iGaming opportunities. It is also involved in 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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