DraftKings (DKNG) Expected to Announce Earnings on Thursday

DraftKings (NASDAQ:DKNG) is expected to release its earnings results 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. Parties interested in participating in the company’s conference call can do so using this link.

DraftKings Stock Up 1.4 %

NASDAQ:DKNG opened at $43.44 on Wednesday. The stock has a 50-day simple moving average of $40.32 and a 200 day simple moving average of $38.46. DraftKings has a one year low of $28.69 and a one year high of $49.57. The company has a market capitalization of $21.18 billion, a price-to-earnings ratio of -49.36, 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.

Analyst Upgrades and Downgrades

DKNG has been the topic of several research reports. Benchmark reissued a “buy” rating and set a $44.00 price target on shares of DraftKings in a research report on Tuesday, January 7th. Macquarie raised their price objective on DraftKings from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. raised their price target on shares of DraftKings from $47.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Barclays raised their price target on shares of DraftKings from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, Susquehanna cut their target price on DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $50.92.

Insider Activity

In other DraftKings news, insider Jason Robins sold 3,151 shares of the company’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 directly owns 2,631,033 shares of the company’s stock, valued at approximately $115,002,452.43. This represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider R Stanton Dodge sold 228,496 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were 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 owns 541,884 shares of the company’s stock, valued at approximately $23,160,122.16. This trade represents a 29.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 963,742 shares of company stock valued at $38,082,888 over the last three months. Insiders own 51.19% of the company’s stock.

About DraftKings

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.