The stock of DraftKings Inc. (NASDAQ:DKNG) last traded at $36.93, up 0.71% from the previous session.
DKNG stock price is now -6.57% away from the 50-day moving average and -4.01% away from the 200-day moving average. The market capitalization of the company currently stands at $17.90B.
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With the price target reduced from $60 to $58, Oppenheimer maintained Outperform rating for DraftKings Inc. (NASDAQ: DKNG). On May 06, 2024, Needham reiterated its ‘Buy’ rating on the stock by increasing its target price from $58 to quote $60, while ‘Goldman’ rates the stock as ‘Buy’
In other news, Liberman Paul, insider sold 63,206 shares of the company’s stock on Jul 15 ’24. The stock was sold for $2,465,034 at an average price of $39.00. Upon completion of the transaction, the insider now directly owns 1,716,406 shares in the company, valued at $63.39 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 25 ’24, Liberman Paul sold 668,890 shares of the business’s stock. A total of $25,972,124 was realized by selling the stock at an average price of $38.83. This leaves the insider owning 205,962 shares of the company worth $7.61 million. A total of 3.92% of the company’s stock is owned by insiders.
During the past 12 months, DraftKings Inc. has had a low of $25.41 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 fifty day moving average price for DKNG is $39.2288 and a two-hundred day moving average price translates $38.9683 for the stock.
The latest earnings results from DraftKings Inc. (NASDAQ: DKNG) was released for 2024-03-31. 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.
