The closing price of DraftKings Inc. (NASDAQ: DKNG) was $40.35 for the day, down -2.25% from the previous closing price of $41.28. In other words, the price has decreased by -$0.93 from its previous closing price. On the day, 9993374 shares were traded.
Ratios:
Our analysis of DKNG’s different ratios will help us gain a deeper understanding of the company. For the most recent quarter (mrq), Quick Ratio is recorded 1.34 and its Current Ratio is at 1.34. In the meantime, Its Debt-to-Equity ratio is 1.60 whereas as Long-Term Debt/Eq ratio is at 1.59.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Barclays on February 23, 2024, Upgraded its rating to Overweight and sets its target price to $50 from $41 previously.
On February 20, 2024, Oppenheimer reiterated its Outperform rating and also lowered its target price recommendation from $55 to $60.
Needham reiterated its Buy rating for the stock on February 20, 2024, while the target price for the stock was revised from $50 to $54.
Insider Transactions:
Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Feb 21 when Robins Jason sold 200,000 shares for $40.89 per share. The transaction valued at 8,178,308 led to the insider holds 3,195,812 shares of the business.
Dodge R Stanton sold 686,101 shares of DKNG for $29,543,509 on Feb 08. The Chief Legal Officer now owns 200,239 shares after completing the transaction at $43.06 per share. On Feb 08, another insider, Robins Jason, who serves as the insider of the company, sold 450,000 shares for $43.06 each. As a result, the insider received 19,377,000 and left with 3,373,637 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, DKNG now has a Market Capitalization of 18.63B and an Enterprise Value of 18.71B. For the stock, the TTM Price-to-Sale (P/S) ratio is 5.21 while its Price-to-Book (P/B) ratio in mrq is 22.70. Its current Enterprise Value per Revenue stands at 5.10 whereas that against EBITDA is -31.89.
Stock Price History:
Over the past 52 weeks, DKNG has reached a high of $45.62, while it has fallen to a 52-week low of $17.02. The 50-Day Moving Average of the stock is 37.94, while the 200-Day Moving Average is calculated to be 31.57.
Shares Statistics:
DKNG traded an average of 12.39M shares per day over the past three months and 17.18M shares per day over the past ten days. A total of 472.70M shares are outstanding, with a floating share count of 452.76M. Insiders hold about 4.40% of the company’s shares, while institutions hold 67.90% stake in the company. Shares short for DKNG as of Jan 31, 2024 were 19.81M with a Short Ratio of 1.60, compared to 30.08M on Dec 29, 2023. Therefore, it implies a Short% of Shares Outstanding of 4.25% and a Short% of Float of 4.48%.
Earnings Estimates
The firm’s stock currently is rated by 17 analysts. On average, analysts expect EPS of -$0.3 for the current quarter, with a high estimate of -$0.12 and a low estimate of -$0.35, while EPS last year was -$0.87. The consensus estimate for the next quarter is $0.03, with high estimates of $0.14 and low estimates of -$0.05.
Analysts are recommending an EPS of between -$0.06 and -$0.4 for the fiscal current year, implying an average EPS of -$0.22. EPS for the following year is $0.73, with 18 analysts recommending between $1.06 and $0.41.
Revenue Estimates
It is expected that $90B in revenue will be generated in the current quarter, according to 21 analysts. It ranges from a high estimate of $1.16B to a low estimate of $1.07B. As of the current estimate, DraftKings Inc.’s year-ago sales were $769.65M, an estimated increase of 44.60% from the year-ago figure. For the next quarter, 21 analysts are estimating revenue of $1.09B, an increase of 43.80% less than the figure of $44.60% in the same quarter last year. There is a high estimate of $1.15B for the next quarter, whereas the lowest estimate is $978M.
A total of 24 analysts have provided revenue estimates for DKNG’s current fiscal year. The highest revenue estimate was $4.93B, while the lowest revenue estimate was $4.64B, resulting in an average revenue estimate of $4.8B. In the same quarter a year ago, actual revenue was $3.67B, up 30.90% from the average estimate. Based on 21 analysts’ estimates, the company’s revenue will be $5.74B in the next fiscal year. The high estimate is $6.48B and the low estimate is $5.4B. The average revenue growth estimate for next year is up 19.60% from the average revenue estimate for this year.
