Shares of DraftKings Inc. (NASDAQ:DKNG – Get Rating) have been assigned a consensus recommendation of “Hold” from the thirty-three brokerages that are presently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and fourteen have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $21.24.
Several analysts have recently issued reports on DKNG shares. Truist Financial reduced their target price on shares of DraftKings from $20.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, October 25th. Canaccord Genuity Group cut their price objective on shares of DraftKings from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, November 7th. Canaccord Genuity Group dropped their target price on DraftKings from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, November 7th. JPMorgan Chase & Co. lowered shares of DraftKings from a “neutral” rating to an “underweight” rating and set a $12.00 price objective for the company. in a research report on Monday, November 28th. Finally, Roth Capital lowered shares of DraftKings from a “neutral” rating to a “sell” rating and set a $15.00 target price on the stock. in a report on Thursday, February 9th.
Institutional Trading of DraftKings
Several institutional investors and hedge funds have recently bought and sold shares of DKNG. Vident Investment Advisory LLC raised its position in shares of DraftKings by 36.5% in the 4th quarter. Vident Investment Advisory LLC now owns 15,791 shares of the company’s stock worth $180,000 after acquiring an additional 4,223 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in DraftKings by 3.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 819,310 shares of the company’s stock valued at $9,332,000 after buying an additional 30,666 shares during the period. Cetera Advisor Networks LLC boosted its holdings in shares of DraftKings by 12.4% during the 4th quarter. Cetera Advisor Networks LLC now owns 48,696 shares of the company’s stock valued at $555,000 after buying an additional 5,366 shares in the last quarter. Cetera Advisors LLC grew its position in shares of DraftKings by 0.3% in the 4th quarter. Cetera Advisors LLC now owns 192,384 shares of the company’s stock worth $2,191,000 after buying an additional 644 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of DraftKings in the 4th quarter worth about $5,588,000. 30.60% of the stock is currently owned by hedge funds and other institutional investors.
DraftKings Stock Up 2.9 %
Shares of NASDAQ:DKNG opened at $16.60 on Wednesday. The business has a fifty day simple moving average of $13.73 and a 200 day simple moving average of $15.08. The firm has a market cap of $13.97 billion, a P/E ratio of -4.83 and a beta of 1.88. DraftKings has a 12-month low of $9.77 and a 12-month high of $25.01.
DraftKings Company Profile
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.