DraftKings (NASDAQ:DKNG) Price Target Raised to $30.00 at BTIG Research

DraftKings (NASDAQ:DKNG) had its target price raised by stock analysts at BTIG Research from $28.00 to $30.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective points to a potential upside of 18.95% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Berenberg Bank set a $26.40 price objective on DraftKings in a research note on Tuesday, February 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of DraftKings in a research note on Wednesday, January 21st. Oppenheimer dropped their price target on DraftKings from $50.00 to $35.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Stifel Nicolaus dropped their price target on DraftKings from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Finally, Morgan Stanley dropped their price target on DraftKings from $53.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, February 24th. Twenty-seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, DraftKings has an average rating of “Moderate Buy” and a consensus price target of $34.66.

DraftKings Price Performance

NASDAQ:DKNG opened at $25.22 on Friday. DraftKings has a 12 month low of $20.46 and a 12 month high of $48.78. The stock has a 50 day moving average of $23.56 and a two-hundred day moving average of $28.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.91. The firm has a market cap of $12.50 billion, a P/E ratio of -630.50, a price-to-earnings-growth ratio of 1.13 and a beta of 1.67.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.02). DraftKings had a return on equity of 5.36% and a net margin of 0.06%.The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the firm posted ($0.07) earnings per share. DraftKings’s quarterly revenue was up 16.8% on a year-over-year basis. On average, analysts expect that DraftKings will post 0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jocelyn Moore sold 2,150 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $25.60, for a total value of $55,040.00. Following the transaction, the director directly owned 1,406 shares in the company, valued at approximately $35,993.60. This represents a 60.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Liberman sold 484,417 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $25.16, for a total value of $12,187,931.72. Following the completion of the transaction, the insider owned 213,597 shares in the company, valued at $5,374,100.52. This represents a 69.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 496,718 shares of company stock valued at $12,477,308. Insiders own 47.18% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in DraftKings by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 44,758,204 shares of the company’s stock valued at $1,542,368,000 after acquiring an additional 1,354,457 shares during the last quarter. Janus Henderson Group PLC lifted its stake in DraftKings by 50.8% during the fourth quarter. Janus Henderson Group PLC now owns 25,313,909 shares of the company’s stock worth $858,893,000 after purchasing an additional 8,524,923 shares in the last quarter. Viking Global Investors LP lifted its stake in DraftKings by 27.4% during the fourth quarter. Viking Global Investors LP now owns 19,119,912 shares of the company’s stock worth $658,872,000 after purchasing an additional 4,116,561 shares in the last quarter. Capital World Investors lifted its stake in DraftKings by 181.4% during the fourth quarter. Capital World Investors now owns 18,626,429 shares of the company’s stock worth $641,867,000 after purchasing an additional 12,008,357 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in DraftKings by 41.0% during the fourth quarter. AQR Capital Management LLC now owns 16,474,009 shares of the company’s stock worth $567,694,000 after purchasing an additional 4,788,337 shares in the last quarter. 37.70% of the stock is currently owned by institutional investors and hedge funds.

More DraftKings News

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Company swung to a quarterly profit and revenue grew ~16.8% year-over-year, a sign margins are improving and top-line momentum continues. This underpins investor optimism about earnings leverage. DraftKings Swings to First-Quarter Profit on Better Sportsbook Margins
• Positive Sentiment: Management pushed the narrative of a broader “Super App” (sportsbook + predictions + market-making), and analysts note Predictions/market?making integration could justify higher future marketing spend and revenue mix improvement. That strategic potential is boosting sentiment. DraftKings tops Q1 expectations, points to its Super App potential
• Positive Sentiment: Company provided detailed investor materials (press release and slide deck) showing KPIs and customer engagement trends, which helped some investors focus on trajectory rather than a single-line miss. View Press Release / Slide Deck
• Neutral Sentiment: Top-line slightly beat consensus ($1.65B vs $1.63B) — a marginal beat that supports growth claims but is not a clear game-changer on its own. DraftKings Reports First Quarter Revenue of $1,646 Million
• Negative Sentiment: EPS missed consensus ($0.20 vs. $0.22), which is a near-term disappointment for earnings-focused holders and contributed to some sell-the-news reaction. DraftKings (DKNG) Q1 Earnings Lag Estimates
• Negative Sentiment: Full?year guidance (revenue range ~$6.5B–$6.9B) was presented as below some analyst views, and management kept guidance conservative — a key reason some traders sold after-hours. DraftKings beats profit estimates but guides below views
• Negative Sentiment: Mixed analyst takeaways and modest after-hours weakness highlight that the quarter is seen as mixed: profitable and product-progressing, but not a clean beat across all metrics. DraftKings (DKNG) Q1 Earnings Lag Estimates

DraftKings Company Profile

DraftKings Inc is a leading digital sports entertainment and gaming company specializing in daily fantasy sports, sports betting and iGaming products. The company provides an integrated platform where users can participate in daily fantasy contests, place wagers on professional sports events, and enjoy a range of online casino-style games. DraftKings’ proprietary technology supports real-time odds, live scoring and advanced analytics to enhance the user experience across mobile and desktop applications.

Founded in 2012 by co-founders Jason Robins, Matthew Kalish and Paul Liberman, DraftKings began as a daily fantasy sports provider and rapidly expanded into regulated sports betting following legislative changes in the United States.