DraftKings (DKNG) Received its Third Buy in a Row

After Loop Capital Markets and Guggenheim gave DraftKings (NASDAQ: DKNG) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Jed Kelly maintained a Buy rating on DraftKings yesterday and set a price target of $80.00. The company’s shares closed last Monday at $57.22.

According to TipRanks.com, Kelly is a 4-star analyst with an average return of 11.1% and a 48.6% success rate. Kelly covers the Technology sector, focusing on stocks such as Rush Street Interactive, Spotify Technology SA, and EverQuote.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for DraftKings with a $74.20 average price target, representing a 28.3% upside. In a report issued on April 26, Needham also initiated coverage with a Buy rating on the stock with a $81.00 price target.

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The company has a one-year high of $74.38 and a one-year low of $18.88. Currently, DraftKings has an average volume of 15.44M.

Based on the recent corporate insider activity of 85 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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