Barclays Reaffirms Their Buy Rating on DraftKings (DKNG)

In a report released today, Brandt Montour from Barclays maintained a Buy rating on DraftKings, with a price target of $37.00.

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According to TipRanks, Montour is a 4-star analyst with an average return of 6.7% and a 51.69% success rate. Montour covers the Consumer Cyclical sector, focusing on stocks such as DraftKings, Norwegian Cruise Line, and Las Vegas Sands.

In addition to Barclays, DraftKings also received a Buy from Craig-Hallum’s Ryan Sigdahl in a report issued yesterday. However, on February 23, Bank of America Securities maintained a Hold rating on DraftKings (NASDAQ: DKNG).

Based on DraftKings’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.99 billion and a net profit of $136.43 million. In comparison, last year the company earned a revenue of $1.39 billion and had a GAAP net loss of $134.85 million

Based on the recent corporate insider activity of 140 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DKNG in relation to earlier this year. Last month, Harry Sloan, a Director at DKNG bought 100,000.00 shares for a total of $2,185,000.00.