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Why DraftKings Shares Are Falling Today

Published 22/02/2022, 14:21
© Reuters.  Why DraftKings Shares Are Falling Today
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DraftKings Inc (NASDAQ: DKNG) is trading lower Tuesday after Wells Fargo (NYSE:WFC) analyst Daniel Politzer downgraded the stock from an Overweight rating to an Equal-Weight rating and lowered the price target from $41 to $19.

Several other analyst firms also lowered price targets on the stock:

  • Needham analyst Bernie McTernan maintained DraftKings with a Buy rating and lowered the price target from $46 to $32.
  • Deutsche Bank (DE:DBKGn) analyst Carlo Santarelli maintained DraftKings with a Hold rating and lowered the price target from $27 to $19.
  • BofA Securities analyst Shaun Kelley maintained DraftKings with a Neutral rating and lowered the price target from $30 to $25.
  • Truist Securities analyst Barry Jonas maintained DraftKings with a Hold rating and lowered the price target from $30 to $22.
On Friday, DraftKings reported its quarterly financial results.

See Also: 'We'll Play The Long Game': DraftKings CEO Remains Confident In Strategy Despite Stock Plunge

DKNG Price Action: DraftKings has traded as high as $74.38 over a 52-week period. It's making new 52-week lows Tuesday.

The stock was down 5.21% at $16.39 at time of publication.

Photo: courtesy of DraftKings.

Latest Ratings for DKNG

DateFirmActionFromTo
Feb 2022Roth CapitalUpgradesSellNeutral
Feb 2022Canaccord GenuityMaintainsBuy
Feb 2022Truist SecuritiesMaintainsHold
View More Analyst Ratings for DKNG

View the Latest Analyst Ratings

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