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UBS Remains a Buy on DraftKings (DKNG)

Tipranks - Tipranks - Tue Jun 9, 9:16AM CDT

In a report released today, Robin M. Farley from UBS maintained a Buy rating on DraftKings, with a price target of $49.00.

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According to TipRanks, M. Farley is a 5-star analyst with an average return of 17.9% and a 61.75% success rate. M. Farley covers the Consumer Cyclical sector, focusing on stocks such as Royal Caribbean, BRP, and DraftKings.

Currently, the analyst consensus on DraftKings is a Strong Buy with an average price target of $35.52.

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Based on DraftKings’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.65 billion and a net profit of $21.07 million. In comparison, last year the company earned a revenue of $1.41 billion and had a GAAP net loss of $33.86 million

Based on the recent corporate insider activity of 124 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DKNG in relation to earlier this year. Last month, Woodrow Levin, a Director at DKNG sold 34,234.00 shares for a total of $880,156.14.

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