DraftKings (NASDAQ:DKNG – Get Rating) had its price objective reduced by Morgan Stanley from $28.00 to $20.00 in a research note released on Monday morning, MarketBeat reports. Morgan Stanley currently has an overweight rating on the stock.
Other equities research analysts have also recently issued reports about the stock. Exane BNP Paribas assumed coverage on shares of DraftKings in a research report on Thursday, October 6th. They set an underperform rating for the company. Deutsche Bank Aktiengesellschaft dropped their price objective on DraftKings from $16.00 to $14.00 and set a hold rating on the stock in a report on Monday, November 7th. Barclays decreased their target price on DraftKings from $18.00 to $15.00 and set an equal weight rating for the company in a research note on Monday, November 7th. Roth Capital upgraded shares of DraftKings from a neutral rating to a buy rating and increased their price target for the company from $18.00 to $25.00 in a research note on Wednesday, August 17th. Finally, Needham & Company LLC reduced their price objective on shares of DraftKings from $25.00 to $20.00 and set a buy rating for the company in a research report on Monday, November 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $23.96.
DraftKings Stock Performance
NASDAQ DKNG opened at $15.34 on Monday. The firm has a market cap of $12.91 billion, a price-to-earnings ratio of -4.46 and a beta of 1.77. DraftKings has a one year low of $9.77 and a one year high of $36.57. The firm has a 50 day simple moving average of $14.86 and a 200-day simple moving average of $14.63.
Hedge Funds Weigh In On DraftKings
DraftKings Inc operates a digital sports entertainment and gaming company. It offers multi-channel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. The company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states.
- Get a free copy of the StockNews.com research report on DraftKings (DKNG)
- Three CBD Stocks to Dominate a Budding Industry
- Institutional Support for Analog Devices Remains High
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
- Microsoft Shares: Is it Time to Back Up the Truck?
- Is the 60/40 Portfolio Mix Still in Vogue?
Receive News & Ratings for DraftKings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DraftKings and related companies with MarketBeat.com's FREE daily email newsletter.