DraftKings (DKNG) to Release Quarterly Earnings on Thursday

DraftKings (NASDAQ:DKNG) is expected to release its earnings data after the market closes on Thursday, February 13th. Analysts expect DraftKings to post earnings of $0.07 per share and revenue of $1.40 billion for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

DraftKings Trading Up 1.3 %

DKNG stock opened at $42.84 on Tuesday. The firm has a fifty day moving average price of $40.35 and a 200 day moving average price of $38.41. DraftKings has a fifty-two week low of $28.69 and a fifty-two week high of $49.57. The firm has a market cap of $20.89 billion, a PE ratio of -48.68, a price-to-earnings-growth ratio of 3.18 and a beta of 1.93. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DKNG shares. JMP Securities dropped their price objective on shares of DraftKings from $52.00 to $50.00 and set a “market outperform” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. lifted their price target on DraftKings from $47.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Wells Fargo & Company raised their price objective on DraftKings from $47.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of DraftKings in a report on Friday. Finally, Benchmark restated a “buy” rating and issued a $44.00 price target on shares of DraftKings in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.92.

Insider Activity

In related news, insider R Stanton Dodge sold 228,496 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $42.74, for a total transaction of $9,765,919.04. Following the completion of the sale, the insider now directly owns 541,884 shares in the company, valued at $23,160,122.16. This represents a 29.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jason Robins sold 3,151 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $43.71, for a total transaction of $137,730.21. Following the completion of the sale, the insider now owns 2,631,033 shares in the company, valued at $115,002,452.43. This represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 963,742 shares of company stock worth $38,082,888. 51.19% of the stock is currently owned by corporate insiders.

DraftKings Company Profile

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators.