<div id="readability-page-1"><p><span>DraftKings (NASDAQ:DKNG - Get Free Report)</span> had its target price dropped by equities researchers at Oppenheimer  from $60.00 to $55.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an &#34;outperform&#34; rating on the stock. Oppenheimer's price target would suggest a potential upside of 49.64% from the stock's previous close.</p><ul><li>Football Season Is Here and DraftKings Stock Is Surging</li></ul><p>A number of other research firms have also commented on DKNG. Northland Securities  reiterated an &#34;under perform&#34; rating and set a $33.00 price objective on shares of DraftKings in a research note on Wednesday. Benchmark upped their price target on shares of DraftKings from $50.00 to $53.00 and gave the company a &#34;buy&#34; rating in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft  set a $47.00 price objective on shares of DraftKings and gave the stock a &#34;hold&#34; rating in a research note on Friday, August 8th. JPMorgan Chase &amp; Co. began coverage on DraftKings in a report on Monday, June 23rd. They issued an &#34;overweight&#34; rating and a $50.00 price target on the stock. Finally, Morgan Stanley  reaffirmed an &#34;overweight&#34; rating and set a $52.00 target price (up from $51.00) on shares of DraftKings in a research report on Friday, July 11th. Twenty-five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one  has issued  a Sell rating to the company's stock. According to data from MarketBeat, DraftKings presently has a consensus rating of &#34;Moderate Buy&#34; and a consensus price target of $54.57.</p><p><b>Check Out Our Latest Report on DraftKings</b></p><h2>DraftKings Stock Down 1.7%</h2><ul><li>DraftKings Posts Record Quarter, Eyes Profitability</li></ul><p>Shares of NASDAQ DKNG traded down $0.65 on Wednesday, hitting $36.75. The company had a trading volume of 4,900,105 shares, compared to its average volume of 10,183,290. DraftKings has a 12-month low of $29.64 and a 12-month high of $53.61. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $18.25 billion, a P/E ratio of -56.72, a PEG ratio of 1.00 and a beta of 1.73. The business has a 50 day moving average of $44.82 and a two-hundred day moving average of $39.86. </p><p>DraftKings (NASDAQ:DKNG - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.14. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.39 billion. DraftKings had a negative return on equity of 30.06% and a negative net margin of 5.63%.DraftKings's quarterly revenue was up 36.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.12 EPS.  DraftKings has set its FY 2025 guidance at  EPS. As a group, equities research analysts forecast that  DraftKings will post 0.64 earnings per share for the current fiscal year. </p><h2>Insider Activity</h2><ul><li>RSI Stock Soars 22% On Q2 Blowout—Will PENN Match the Momentum?</li></ul><p>In other DraftKings news, Director Ryan R. Moore sold 76,390 shares of DraftKings stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $45.92, for a total value of $3,507,828.80. Following the transaction, the director owned 402 shares of the company's stock, valued at approximately $18,459.84. The trade was a 99.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Matthew Kalish sold 210,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $42.90, for a total transaction of $9,009,000.00. Following the completion of the sale, the insider owned 4,190,233 shares of the company's stock, valued at $179,760,995.70. This trade represents a 4.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 658,331 shares of company stock worth $29,285,365 over the last ninety days. Corporate insiders own  47.08% of the company's stock. </p><h2>Institutional Investors Weigh In On DraftKings</h2><p>Hedge funds and other institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new position in shares of  DraftKings in the 1st quarter valued at about $26,000.  Smallwood Wealth Investment Management LLC purchased a new position in  DraftKings in the first quarter worth $27,000.  GPS Wealth Strategies Group LLC increased its position in  DraftKings by 197.9% in the first quarter. GPS Wealth Strategies Group LLC now owns 849 shares of the company's stock worth $28,000 after buying an additional 564 shares during the last quarter.  Bank of Jackson Hole Trust bought a new stake in  DraftKings during the 1st quarter valued at $31,000.  Finally, MassMutual Private Wealth &amp; Trust FSB boosted its stake in  DraftKings by 44.8% during the first quarter. MassMutual Private Wealth &amp; Trust FSB now owns 1,024 shares of the company's stock valued at $34,000 after buying an additional 317 shares during the period. Institutional investors own  37.70% of the company's stock. </p><h2>DraftKings Company Profile</h2> (Get Free Report)<p>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.</p><h2>Featured Stories</h2><ul><li>Five stocks we like better than DraftKings</li><li>What Investors Must Know About Over-the-Counter (OTC) Stocks</li><li>Is Intuitive Surgical the Hidden Winner in Healthcare’s Weakness?</li><li>2 Rising CRM Platform Stocks That Can Surge Higher in 2025 </li><li>Lithium Americas Stock Exploded Last Week—Here’s Why</li><li>Trading Halts Explained</li><li>Why Amazon’s Latest Upgrade Might Be Its Most Important Yet</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsAndPriceTargetChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9REtORw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="330" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsAndPriceTargetChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9REtORw"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in DraftKings Right Now?</h2><p>Before you consider DraftKings, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and DraftKings wasn't on the list.</p><p>While DraftKings currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

DKNG

<p>Oppenheimer has reduced its price target for DraftKings (NASDAQ: DKNG) from $60.00 to $55.00 while maintaining an "outperform" rating. This new target suggests a potential upside of 49.64% from the stock's previous close. Other analysts have varied opinions, with Northland Securities setting a $33.00 target and Benchmark raising theirs to $53.00. DraftKings shares recently traded at $36.75, down 1.7%, with a market cap of $18.25 billion and a consensus rating of "Moderate Buy."</p>

DraftKings (NASDAQ:DKNG) Price Target Cut to $55.00 by Analysts at Oppenheimer