DraftKings (NASDAQ:DKNG – Get Rating) had its price target raised by equities research analysts at Susquehanna Bancshares from $20.00 to $24.00 in a research report issued to clients and investors on Tuesday, Stock Target Advisor reports. Susquehanna Bancshares’ price objective suggests a potential upside of 54.94% from the company’s previous close.
Several other analysts have also weighed in on the company. Oppenheimer reduced their price objective on DraftKings from $32.00 to $24.00 in a research note on Monday, May 9th. Susquehanna increased their target price on DraftKings from $20.00 to $24.00 in a research report on Tuesday. Loop Capital dropped their target price on DraftKings from $35.00 to $25.00 in a research report on Monday, May 9th. Jefferies Financial Group began coverage on DraftKings in a research report on Monday, May 16th. They issued a “buy” rating for the company. Finally, Roth Capital upgraded DraftKings from a “neutral” rating to a “buy” rating and increased their target price for the company from $18.00 to $25.00 in a research report on Wednesday, August 17th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $30.12.
DraftKings Stock Down 2.9 %
DKNG opened at $15.49 on Tuesday. The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 0.74. The stock’s fifty day simple moving average is $15.14 and its 200 day simple moving average is $15.86. DraftKings has a 1-year low of $9.77 and a 1-year high of $64.58. The stock has a market cap of $13.04 billion, a PE ratio of -4.09 and a beta of 1.92.
Hedge Funds Weigh In On DraftKings
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. boosted its holdings in DraftKings by 3.9% during the 2nd quarter. Prudential Financial Inc. now owns 15,733 shares of the company’s stock valued at $215,000 after acquiring an additional 584 shares during the period. Clearstead Advisors LLC raised its position in shares of DraftKings by 37.6% in the 4th quarter. Clearstead Advisors LLC now owns 2,455 shares of the company’s stock worth $67,000 after acquiring an additional 671 shares in the last quarter. Tyler Stone Wealth Management raised its position in shares of DraftKings by 10.3% in the 2nd quarter. Tyler Stone Wealth Management now owns 9,030 shares of the company’s stock worth $105,000 after acquiring an additional 846 shares in the last quarter. Credit Agricole S A grew its stake in shares of DraftKings by 93.6% in the 4th quarter. Credit Agricole S A now owns 1,758 shares of the company’s stock worth $48,000 after buying an additional 850 shares during the last quarter. Finally, Tsfg LLC grew its stake in shares of DraftKings by 43.1% in the 2nd quarter. Tsfg LLC now owns 3,019 shares of the company’s stock worth $35,000 after buying an additional 909 shares during the last quarter. 29.18% of the stock is currently owned by hedge funds and other institutional investors.
About DraftKings
DraftKings Inc operates a digital sports entertainment and gaming company. It offers multi-channel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. The company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states.