Stocks of DraftKings Inc. (NASDAQ:DKNG) traded higher last session on Wall Street, down -1.73% to $43.27.
DKNG stock price is now -0.93% away from the 50-day moving average and 19.55% away from the 200-day moving average. The market capitalization of the company currently stands at $20.61B.
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With the price target enhanced from $58 to $60, Needham maintained Buy rating for DraftKings Inc. (NASDAQ: DKNG). On April 16, 2024, Goldman recently initiated its ‘Buy’ rating on the stock quoting a target price of $60, while ‘Needham’ rates the stock as ‘Buy’
In other news, Robins Jason, insider sold 200,000 shares of the company’s stock on May 08 ’24. The stock was sold for $8,534,000 at an average price of $42.67. Upon completion of the transaction, the insider now directly owns 2,849,215 shares in the company, valued at $123.29 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 22 ’24, Robins Jason sold 200,000 shares of the business’s stock. A total of $8,182,006 was realized by selling the stock at an average price of $40.91. This leaves the insider owning 3,043,231 shares of the company worth $131.68 million. A total of 4.28% of the company’s stock is owned by insiders.
During the past 12 months, DraftKings Inc. has had a low of $22.65 and a high of $49.57. As of last week, the company has a debt-to-equity ratio of 1.62, a current ratio of 1.34, and a quick ratio of 1.34.
The net profit margin was -13.45% and return on equity was -59.24% for DKNG. The company reported revenue of $1.17 billion for the quarter, compared to $769.65 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 52.67 percent.
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