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DraftKings (DKNG) Receives a Buy from Oppenheimer

Tipranks - Tipranks - Fri Jun 12, 7:08AM CDT

Oppenheimer analyst Jed Kelly reiterated a Buy rating on DraftKings today and set a price target of $35.00.

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According to TipRanks, Kelly is a 4-star analyst with an average return of 4.2% and a 48.82% success rate. Kelly covers the Consumer Cyclical sector, focusing on stocks such as DraftKings, Airbnb, and Booking Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for DraftKings with a $35.77 average price target.

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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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