On February 9, 2023, Roth Capital downgraded their outlook for Draftkings from Neutral to Sell.
Analyst Price Forecast Suggests 25.65% Upside
As of February 10, 2023, the average one-year price target for Draftkings is $20.77. The forecasts range from a low of $12.12 to a high of $50.40. The average price target represents an increase of 25.65% from its latest reported closing price of $16.53.
The projected annual revenue for Draftkings is $2,972MM, an increase of 59.90%. The projected annual EPS is -$2.50.
What are large shareholders doing?
Norges Bank holds 2,915K shares representing 0.65% ownership of the company. In it’s prior filing, the firm reported owning 2,990K shares, representing a decrease of 2.55%. The firm decreased its portfolio allocation in DKNG by 8.13% over the last quarter.
Bamco holds 875K shares representing 0.19% ownership of the company. No change in the last quarter.
BFOCX – Berkshire Focus Fund holds 576K shares representing 0.13% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Berkshire Capital Holdings holds 576K shares representing 0.13% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%. The firm increased its portfolio allocation in DKNG by 911,637.44% over the last quarter.
SherpaCapital holds 306K shares representing 0.07% ownership of the company. No change in the last quarter.
What is the Fund Sentiment?
There are 12 funds or institutions reporting positions in Draftkings. This is a decrease of 199 owner(s) or 94.31% in the last quarter. Average portfolio weight of all funds dedicated to DKNG is 0.68%, an increase of 63.80%. Total shares owned by institutions decreased in the last three months by 86.33% to 5,500K shares. The put/call ratio of DKNG is 0.90, indicating a bullish outlook.
DraftKings Background Information
(This description is provided by the company.)
DraftKings is an American daily fantasy sports contest and sports betting company. The company allows users to enter daily and weekly fantasy sports–related contests and win money based on individual player performances in five major American sports (MLB, the NHL, the NFL, the NBA and the PGA), Premier League and UEFA Champions League football, NASCAR auto racing, Canadian Football League, the XFL, mixed martial arts (MMA), Tennis, All Elite Wrestling (AEW), and WWE.
This article originally appeared on Fintel
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.