Investors on the quest for market-beating returns often employ the strategy of stock picking. Making informed choices in stocks can greatly amplify your wealth.
The closing price of DraftKings Inc. (NASDAQ: DKNG) was $42.78 for the day, down -0.81% from the previous closing price of $43.13. In other words, the price has decreased by -$0.81 from its previous closing price. On the day, 9.57 million shares were traded. DKNG stock price reached its highest trading level at $44.31 during the session, while it also had its lowest trading level at $42.3.
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 this company, Goldman on April 16, 2024, initiated with a Buy rating and assigned the stock a target price of $60.
On March 27, 2024, Needham reiterated its Buy rating and also lowered its target price recommendation from $54 to $58.
On March 26, 2024, Mizuho started tracking the stock assigning a Buy rating and target price of $58.Mizuho initiated its Buy rating on March 26, 2024, with a $58 target price.
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 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 20515960832 and an Enterprise Value of 20337027072. For the stock, the TTM Price-to-Sale (P/S) ratio is 5.53 while its Price-to-Book (P/B) ratio in mrq is 24.07. Its current Enterprise Value per Revenue stands at 5.548 whereas that against EBITDA is -34.809.
Stock Price History:
The Beta on a monthly basis for DKNG is 1.86, which has changed by 0.9418974 over the last 52 weeks, in comparison to a change of 0.24191546 over the same period for the S&P500. Over the past 52 weeks, DKNG has reached a high of $49.57, while it has fallen to a 52-week low of $20.26. The 50-Day Moving Average of the stock is -1.70%, while the 200-Day Moving Average is calculated to be 19.97%.
Shares Statistics:
DKNG traded an average of 11.44M shares per day over the past three months and 9479150 shares per day over the past ten 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 67.33% stake in the company. Shares short for DKNG as of 1713139200 were 19997202 with a Short Ratio of 1.75, compared to 1710460800 on 17484672. Therefore, it implies a Short% of Shares Outstanding of 19997202 and a Short% of Float of 4.32.
Earnings Estimates
As of right now, 22.0 analysts gave their recommendation on the stock of the company. 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 $0.8, with 25.0 analysts recommending between $1.73 and $0.37.
Revenue Estimates
It is expected that $90B in revenue will be generated in the current quarter, according to 26 analysts. It ranges from a high estimate of $1.17B to a low estimate of $1.09B. As of the current estimate, DraftKings Inc.’s year-ago sales were $769.65MFor the next quarter, 26 analysts are estimating revenue of $1.1B. There is a high estimate of $1.23B for the next quarter, whereas the lowest estimate is $979M.
A total of 32 analysts have provided revenue estimates for DKNG’s current fiscal year. The highest revenue estimate was $4.94B, while the lowest revenue estimate was $4.66B, resulting in an average revenue estimate of $4.81B. In the same quarter a year ago, actual revenue was $3.67BBased on 25 analysts’ estimates, the company’s revenue will be $5.69B in the next fiscal year. The high estimate is $6B and the low estimate is $5.4B.
