After finishing at $47.20 in the prior trading day, DraftKings Inc. (NASDAQ: DKNG) closed at $45.51, down -3.58%. In other words, the price has decreased by -$1.69 from its previous closing price. On the day, 10127810 shares were traded.
Ratios:
Our goal is to gain a better understanding of DKNG by taking a closer look at its different ratios. 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 this company, Needham on March 27, 2024, Reiterated its Buy rating but revised its target price to $58 from $54 previously.
On March 26, 2024, Mizuho started tracking the stock assigning a Buy rating and target price of $58.
Susquehanna reiterated its Positive rating for the stock on March 25, 2024, while the target price for the stock was revised from $51 to $54.
Insider Transactions:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Feb 21 ’24 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 ’24. The Chief Legal Officer now owns 200,239 shares after completing the transaction at $43.06 per share. On Feb 08 ’24, 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 21.65B and an Enterprise Value of 21.72B. For the stock, the TTM Price-to-Sale (P/S) ratio is 5.88 while its Price-to-Book (P/B) ratio in mrq is 25.60. Its current Enterprise Value per Revenue stands at 5.93 whereas that against EBITDA is -37.03.
Stock Price History:
Over the past 52 weeks, DKNG has reached a high of $49.57, while it has fallen to a 52-week low of $17.42. The 50-Day Moving Average of the stock is 43.17, while the 200-Day Moving Average is calculated to be 34.52.
Shares Statistics:
The stock has traded on average 12.37M shares per day over the past 3-months and 12.7M shares per day over the last 10 days, according to various share statistics. A total of 472.70M shares are outstanding, with a floating share count of 453.19M. Insiders hold about 4.31% of the company’s shares, while institutions hold 67.82% stake in the company. Shares short for DKNG as of Mar 15, 2024 were 17.48M with a Short Ratio of 1.41, compared to 19.69M on Feb 15, 2024. Therefore, it implies a Short% of Shares Outstanding of 3.68% and a Short% of Float of 3.77%.
Earnings Estimates
Its stock is currently analyzed by 21 different market analysts. On average, analysts expect EPS of -$0.28 for the current quarter, with a high estimate of -$0.08 and a low estimate of -$0.35, while EPS last year was -$0.87. The consensus estimate for the next quarter is $0.04, with high estimates of $0.18 and low estimates of -$0.05.
Analysts are recommending an EPS of between $0.62 and -$0.4 for the fiscal current year, implying an average EPS of -$0.14. EPS for the following year is $0.79, with 24 analysts recommending between $1.73 and $0.37.
Revenue Estimates
24 analysts predict $1.11B in revenue for the current quarter. 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 44.90% from the year-ago figure. For the next quarter, 24 analysts are estimating revenue of $1.09B, an increase of 44.00% less than the figure of $44.90% 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 30 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 31.10% from the average estimate. Based on 23 analysts’ estimates, the company’s revenue will be $5.66B in the next fiscal year. The high estimate is $5.94B and the low estimate is $5.4B. The average revenue growth estimate for next year is up 17.90% from the average revenue estimate for this year.
