Oppenheimer Issues a Buy Rating on DraftKings (DKNG)

In a report released yesterday, Jed Kelly from Oppenheimer assigned a Buy rating to DraftKings (DKNGResearch Report), with a price target of $80.00. The company’s shares closed last Wednesday at $48.81.

According to TipRanks.com, Kelly is a 4-star analyst with an average return of 9.4% and a 46.6% success rate. Kelly covers the Technology sector, focusing on stocks such as Rush Street Interactive, Spotify Technology SA, and EverQuote.

DraftKings has an analyst consensus of Strong Buy, with a price target consensus of $69.38, a 42.0% upside from current levels. In a report issued on June 2, Morgan Stanley also maintained a Buy rating on the stock with a $58.00 price target.

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DraftKings’ market cap is currently $19.48B and has a P/E ratio of -16.40. The company has a Price to Book ratio of 17.28.

Based on the recent corporate insider activity of 101 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.

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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.