DraftKings (DKNG) Set to Announce Earnings on Friday

DraftKings (NASDAQ:DKNG) is scheduled to be issuing its quarterly earnings data before the market opens on Friday, May 7th. Analysts expect the company to announce earnings of ($0.50) per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

DraftKings (NASDAQ:DKNG) last released its earnings results on Thursday, February 25th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by ($0.12). The business had revenue of $322.00 million during the quarter, compared to the consensus estimate of $232.04 million. The business’s revenue was up 68.6% on a year-over-year basis. On average, analysts expect DraftKings to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Shares of DKNG stock opened at $56.13 on Wednesday. DraftKings has a 12-month low of $21.15 and a 12-month high of $74.38. The stock has a 50 day simple moving average of $61.91 and a 200-day simple moving average of $54.64.

Several research firms have recently issued reports on DKNG. Morgan Stanley raised their price objective on DraftKings from $60.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, March 8th. The Goldman Sachs Group lifted their target price on DraftKings from $79.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, March 29th. Craig Hallum lifted their target price on DraftKings from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, March 1st. Rosenblatt Securities lifted their target price on DraftKings from $72.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday, March 15th. Finally, Guggenheim initiated coverage on DraftKings in a research report on Friday, April 30th. They set a “buy” rating and a $75.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $66.24.

About DraftKings

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States. It operates through two segments, Business-to-Consumer and Business-to-Business. The company provides users with daily sports, sports betting, and iGaming opportunities. It is also involved in the design, development, and licensing of sports betting and casino gaming platform software for online and retail sportsbook, and casino gaming products.

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