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UBS cut DraftKings' price target to $43 but maintained a "buy" rating despite recent stock decline and insider selling.
UBS lowered DraftKings’ price target to $43 from $53, keeping a “buy” rating, with a potential 72.7% upside from its current price of $24.90.
The stock fell $0.97 on Monday, with below-average trading volume.
Short interest dropped 16.9% in February to 32.09 million shares, and insiders have sold $14.1 million in stock over the past 90 days, though some executives increased their stakes.
DraftKings, a digital sports entertainment platform founded in 2012, has a market cap of $12.28 billion, a negative P/E ratio of -622.50, and institutional ownership of 37.7%.
The consensus analyst rating is “Moderate Buy” with a target of $37.09.
UBS redujo el precio objetivo de DraftKings a 43 dólares, pero mantuvo una calificación de "compra" a pesar de la reciente caída de las acciones y la venta de información privilegiada.