Citizens Reiterates Buy Rating on DraftKings Inc. (DKNG)
Citizens maintained its buy rating on DraftKings with a $36 price target, a 40.46% upside from the current price.
Key Points
- Citizens reiterated its buy rating on DraftKings Inc. (DKNG) with a $36 price target, as of June 25.
- Citizens's $36 price target implies 40.46% upside from DraftKings Inc.'s ($DKNG) current $25.63 share price.
- DraftKings shares traded near $23.77 on Thursday, with a market cap of approximately $12.73 billion.
- Insiders at DraftKings, including CEO Jason Robins, engaged in recent stock transactions, while analysts maintained positive ratings.
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On June 25, Citizens reiterated its buy rating on DraftKings Inc. (NasdaqGS: DKNG), setting a price target of $36. Analyst Jordan Bender maintained the positive outlook for the online sports entertainment and gaming company.
DraftKings Inc. Stock Up 1.5%
Shares of DraftKings traded near $23.77 on Thursday. The company, which operates in the consumer cyclical sector, has a market cap of about $12.73 billion. Its P/E ratio is a high 285, but the forward P/E is more reasonable at 15. DraftKings has a beta of 1.65, indicating some volatility compared to the market. The stock's 52-week range is between $20.46 and $48.78, with a 50-day moving average of $24.78 and a 200-day moving average of $29.96.
$DKNG price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
In its most recent quarter, DraftKings reported revenue of approximately $6.29 billion, reflecting a growth rate of 16.8%. The company achieved an EPS of $0.09, with a net margin of 0.93% and a return on equity of 7.94%. DraftKings is expected to announce its next earnings on August 5, 2026.
Insider Buying and Selling at DraftKings Inc.
Recent insider activity at DraftKings included several transactions by CEO Jason Robins and Chief Legal Officer Stanton Dodge. On June 12, Robins sold 8,545 shares. Dodge engaged in multiple transactions on June 11, selling 62,500 shares at an average price of $29.68 under a planned sale. He also bought 62,500 shares at $2.95 and purchased 34,722 shares on June 1.
Analysts Set New Price Targets
On June 25, Citizens maintained its buy rating on DraftKings with a price target of $36. Earlier in the month, on June 8, TD Cowen reiterated its buy rating with a target of $30. UBS also maintained a buy rating with a $49 target on June 5. Overall, the consensus among 35 analysts is a buy, with a mean target price of $34.88.
About DraftKings Inc.
DraftKings Inc. is a digital sports entertainment and gaming company based in Boston, Massachusetts. Founded in 2011, it provides online and retail sports betting, daily fantasy sports, and iGaming products like blackjack and slot machines. The company also designs and develops software for sports betting and casino gaming. Led by CEO Jason Robins, DraftKings employs about 5,500 people.
Bottom Line
Citizens' reiteration of a buy rating for DraftKings reflects continued confidence in the company's growth potential. While the stock trades below its 52-week high, analysts remain optimistic about its future performance. Investors will be watching closely as DraftKings approaches its next earnings release in August.
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