DraftKings (DKNG) Received its Third Buy in a Row

After Macquarie and Argus Research gave DraftKings (NASDAQ: DKNG) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Jed Kelly assigned a Buy rating to DraftKings today and set a price target of $65.00. The company’s shares closed last Wednesday at $41.75.

According to TipRanks.com, Kelly is a 4-star analyst with an average return of 10.5% and a 50.2% success rate. Kelly covers the Technology sector, focusing on stocks such as Paypal Holdings, Black Knight, and Corelogic.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for DraftKings with a $58.24 average price target, which is a 35.7% upside from current levels. In a report issued on October 12, Credit Suisse also initiated coverage with a Buy rating on the stock with a $76.00 price target.

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Based on the recent corporate insider activity of 51 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.

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Diamond Eagle Acquisition Corp. operates as a blank check company that intent for a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company was founded on March 27, 2019 and is headquartered in Los Angeles, CA.