Fintel reports that on July 6, 2023, Deutsche Bank maintained coverage of DraftKings Inc. – (NASDAQ:DKNG) with a Hold recommendation.
Analyst Price Forecast Suggests 16.52% Upside
As of July 6, 2023, the average one-year price target for DraftKings Inc. – is 29.40. The forecasts range from a low of 17.17 to a high of $40.95. The average price target represents an increase of 16.52% from its latest reported closing price of 25.23.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for DraftKings Inc. – is 2,972MM, an increase of 14.62%. The projected annual non-GAAP EPS is -2.50.
What is the Fund Sentiment?
There are 803 funds or institutions reporting positions in DraftKings Inc. -. This is an increase of 49 owner(s) or 6.50% in the last quarter. Average portfolio weight of all funds dedicated to DKNG is 0.45%, an increase of 30.04%. Total shares owned by institutions increased in the last three months by 0.86% to 317,784K shares. 
The put/call ratio of DKNG is 0.98, indicating a bullish outlook.
What are Other Shareholders Doing?
ARK Investment Management holds 23,931K shares representing 5.18% ownership of the company. In it’s prior filing, the firm reported owning 25,032K shares, representing a decrease of 4.60%. The firm increased its portfolio allocation in DKNG by 28.87% over the last quarter.
Capital Research Global Investors holds 18,079K shares representing 3.91% ownership of the company. In it’s prior filing, the firm reported owning 13,995K shares, representing an increase of 22.59%. The firm increased its portfolio allocation in DKNG by 107.35% over the last quarter.
ARKK – ARK Innovation ETF holds 14,773K shares representing 3.20% ownership of the company. In it’s prior filing, the firm reported owning 16,501K shares, representing a decrease of 11.70%. The firm increased its portfolio allocation in DKNG by 49.37% over the last quarter.
Sumitomo Mitsui Trust Holdings holds 13,163K shares representing 2.85% ownership of the company. In it’s prior filing, the firm reported owning 13,992K shares, representing a decrease of 6.30%. The firm increased its portfolio allocation in DKNG by 49.36% over the last quarter.
Nikko Asset Management Americas holds 13,163K shares representing 2.85% ownership of the company. In it’s prior filing, the firm reported owning 13,992K shares, representing a decrease of 6.30%. The firm increased its portfolio allocation in DKNG by 26.26% over the last quarter.
DraftKings Background Information
(This description is provided by the company.)
DraftKings is an American daily fantasy sports contest and sports betting company. The company allows users to enter daily and weekly fantasy sports–related contests and win money based on individual player performances in five major American sports (MLB, the NHL, the NFL, the NBA and the PGA), Premier League and UEFA Champions League football, NASCAR auto racing, Canadian Football League, the XFL, mixed martial arts (MMA), Tennis, All Elite Wrestling (AEW), and WWE.
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This story originally appeared on Fintel.
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