The stock of DraftKings Inc. (NASDAQ:DKNG) last traded at $34.80, up 1.13% from the previous session.
DKNG stock price is now -4.76% away from the 50-day moving average and -10.93% away from the 200-day moving average. The market capitalization of the company currently stands at $16.90B.
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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, Robins Jason, insider sold 200,000 shares of the company’s stock on Aug 08 ’24. The stock was sold for $6,144,000 at an average price of $30.72. Upon completion of the transaction, the insider now directly owns 2,699,815 shares in the company, valued at $93.95 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 08 ’24, Officer Robins Jason bought 200,000 shares of the business’s stock. A total of $6,092,000 was incurred on buying the stock at an average price of $30.46. A total of 3.86% of the company’s stock is owned by insiders.
During the past 12 months, DraftKings Inc. has had a low of $25.73 and a high of $49.57. As of last week, the company has a debt-to-equity ratio of 1.04, a current ratio of 1.11, and a quick ratio of 1.11. The fifty day moving average price for DKNG is $36.497 and a two-hundred day moving average price translates $39.1076 for the stock.
The latest earnings results from DraftKings Inc. (NASDAQ: DKNG) was released for 2024-06-30. The net profit margin was -9.45% and return on equity was -35.09% for DKNG. The company reported revenue of $1.1 billion for the quarter, compared to $874.93 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 26.23 percent. For the current quarter, analysts expect DKNG to generate $1.11B in revenue.
