Those aiming for above-average market returns often engage in the meticulous process of stock picking. Choosing the right stocks can make a substantial difference in your wealth.
The price of DraftKings Inc. (NASDAQ: DKNG) closed at $44.07 in the last session, up 5.38% from day before closing price of $41.82. In other words, the price has increased by $5.38 from its previous closing price. On the day, 14.63 million shares were traded. DKNG stock price reached its highest trading level at $44.39 during the session, while it also had its lowest trading level at $42.12.
Ratios:
We take a closer look at DKNG’s different ratios to gain a better understanding of the stock. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 17.32 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 185.52. 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 1.62 whereas as Long-Term Debt/Eq ratio is at 1.60.
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 May-07-24, Reiterated its Buy rating but revised its target price to $60 from $58 previously.
On April 16, 2024, Goldman started tracking the stock assigning a Buy rating and target price of $60.
Needham reiterated its Buy rating for the stock on March 27, 2024, while the target price for the stock was revised from $54 to $58.
Insider Transactions:
An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Apr 22 ’24 when Robins Jason sold 200,000 shares for $40.91 per share. The transaction valued at 8,182,006 led to the insider holds 3,043,231 shares of the business.
Robins Jason sold 200,000 shares of DKNG for $8,178,308 on Feb 21 ’24. The insider now owns 3,195,812 shares after completing the transaction at $40.89 per share. On Feb 08 ’24, another insider, Dodge R Stanton, who serves as the Chief Legal Officer of the company, sold 686,101 shares for $43.06 each. As a result, the insider received 29,543,509 and left with 200,239 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 20987191296 and an Enterprise Value of 21139128320. For the stock, the TTM Price-to-Sale (P/S) ratio is 5.13 while its Price-to-Book (P/B) ratio in mrq is 25.25. Its current Enterprise Value per Revenue stands at 5.193 whereas that against EBITDA is -66.815.
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 $21.07. The 50-Day Moving Average of the stock is 1.31%, while the 200-Day Moving Average is calculated to be 22.63%.
Shares Statistics:
According to the various share statistics, DKNG traded on average about 11.47M shares per day over the past 3-months and 10716750 shares per day over the past 10 days. A total of 472.70M shares are outstanding, with a floating share count of 453.37M. Insiders hold about 4.28% of the company’s shares, while institutions hold 66.87% stake in the company. Shares short for DKNG as of 1713139200 were 19997202 with a Short Ratio of 1.74, compared to 1710460800 on 17484672. Therefore, it implies a Short% of Shares Outstanding of 19997202 and a Short% of Float of 4.32.
