DraftKings (NASDAQ:DKNG) Releases Quarterly Earnings Results

DraftKings (NASDAQ:DKNG) posted its quarterly earnings results on Thursday. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.35), Zacks reports. DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. DraftKings updated its FY 2025 guidance to EPS.

DraftKings Trading Up 15.2 %

Shares of NASDAQ:DKNG opened at $53.49 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50-day moving average is $40.54 and its 200-day moving average is $38.73. The company has a market cap of $26.08 billion, a P/E ratio of -60.78, a P/E/G ratio of 3.18 and a beta of 1.93. DraftKings has a 52-week low of $28.69 and a 52-week high of $53.61.

Analysts Set New Price Targets

Several research firms have issued reports on DKNG. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of DraftKings in a report on Friday. Benchmark boosted their target price on shares of DraftKings from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Friday. Canaccord Genuity Group boosted their target price on shares of DraftKings from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. boosted their target price on shares of DraftKings from $47.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Mizuho boosted their target price on shares of DraftKings from $54.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.58.

Insider Transactions at DraftKings

In other DraftKings news, insider Paul Liberman sold 200,000 shares of DraftKings stock in a transaction on Friday, January 10th. The shares were sold at an average price of $39.00, for a total transaction of $7,800,000.00. Following the sale, the insider now owns 1,342,722 shares in the company, valued at $52,366,158. The trade was a 12.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jason Robins sold 3,151 shares of DraftKings stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $43.71, for a total transaction of $137,730.21. Following 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 position. The disclosure for this sale can be found here. Insiders sold a total of 1,163,742 shares of company stock worth $47,082,888 over the last three months. 51.19% of the stock is currently owned by 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.