Jefferies Financial Group Boosts DraftKings (NASDAQ:DKNG) Price Target to $54.00

DraftKings (NASDAQ:DKNG) had its price target boosted by Jefferies Financial Group from $52.00 to $54.00 in a research report report published on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

DKNG has been the subject of several other research reports. The Goldman Sachs Group initiated coverage on shares of DraftKings in a research note on Tuesday, April 16th. They set a buy rating and a $60.00 target price for the company. Barclays increased their price objective on shares of DraftKings from $52.00 to $54.00 and gave the stock an overweight rating in a research note on Monday. UBS Group lifted their target price on DraftKings from $44.00 to $56.00 and gave the company a buy rating in a research note on Tuesday, March 5th. Mizuho began coverage on DraftKings in a research report on Tuesday, March 26th. They set a buy rating and a $58.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on DraftKings from $39.00 to $53.00 and gave the company an overweight rating in a research report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $49.07.

DraftKings Stock Down 1.1 %

NASDAQ:DKNG opened at $42.81 on Monday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $37.10 billion, a price-to-earnings ratio of -36.28 and a beta of 1.87. DraftKings has a one year low of $22.65 and a one year high of $49.57. The stock has a 50-day simple moving average of $43.69 and a 200 day simple moving average of $39.15.

DraftKings (NASDAQ:DKNG) last issued its earnings results on Thursday, May 2nd. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.02). DraftKings had a negative return on equity of 61.75% and a negative net margin of 13.45%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the business posted ($0.87) EPS. DraftKings’s revenue was up 52.7% compared to the same quarter last year. Sell-side analysts predict that DraftKings will post -0.24 EPS for the current fiscal year.

Insider Activity

In related news, insider Jason Robins sold 200,000 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $40.89, for a total transaction of $8,178,000.00. Following the completion of the sale, the insider now directly owns 3,195,812 shares in the company, valued at $130,676,752.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 48.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DraftKings

Several institutional investors have recently bought and sold shares of the stock. Highlander Capital Management LLC raised its stake in shares of DraftKings by 180.0% in the 4th quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock valued at $25,000 after acquiring an additional 450 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in shares of DraftKings during the 4th quarter worth $26,000. Montag A & Associates Inc. acquired a new position in DraftKings during the 4th quarter worth $29,000. LifeSteps Financial Inc. bought a new stake in DraftKings during the first quarter valued at about $33,000. Finally, Concord Wealth Partners increased its stake in shares of DraftKings by 140.2% in the first quarter. Concord Wealth Partners now owns 776 shares of the company’s stock worth $35,000 after purchasing an additional 453 shares during the period. 37.70% of the stock is currently owned by institutional investors.

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.