DraftKings Inc. (NASDAQ: DKNG) closed the day trading at $46.27 up 5.69% from the previous closing price of $43.78. In other words, the price has increased by $+2.49 from its previous closing price. On the day, 16108506 shares were traded.
Ratios:
For a better understanding of DKNG, let’s 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, Morgan Stanley on February 28, 2024, Reiterated its Overweight rating but revised its target price to $49 from $40 previously.
On February 23, 2024, Barclays Upgraded its rating to Overweight which previously was Equal Weight and also upped its target price recommendation from $41 to $50.
Oppenheimer reiterated its Outperform rating for the stock on February 20, 2024, while the target price for the stock was revised from $55 to $60.
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 21.36B and an Enterprise Value of 21.44B. For the stock, the TTM Price-to-Sale (P/S) ratio is 5.98 while its Price-to-Book (P/B) ratio in mrq is 26.03. Its current Enterprise Value per Revenue stands at 5.85 whereas that against EBITDA is -36.55.
Stock Price History:
The Beta on a monthly basis for DKNG is 1.86, which has changed by 164.70% over the last 52 weeks, in comparison to a change of 32.31% over the same period for the S&P500. 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 40.71, while the 200-Day Moving Average is calculated to be 33.26.
Shares Statistics:
Over the past 3-months, DKNG traded about 11.72M shares per day on average, while over the past 10 days, DKNG traded about 9.46M shares per day. A total of 472.70M shares are outstanding, with a floating share count of 453.25M. Insiders hold about 4.30% of the company’s shares, while institutions hold 67.94% stake in the company. Shares short for DKNG as of Feb 29, 2024 were 16.7M with a Short Ratio of 1.42, compared to 19.81M on Jan 31, 2024. Therefore, it implies a Short% of Shares Outstanding of 3.62% and a Short% of Float of 3.82%.
Earnings Estimates
Current recommendations for the stock of the company come from 20 analysts. On average, analysts expect EPS of -$0.29 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 $0.01 and -$0.4 for the fiscal current year, implying an average EPS of -$0.2. EPS for the following year is $0.74, with 23 analysts recommending between $1.21 and $0.41.
Revenue Estimates
23 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 44.70% from the year-ago figure. For the next quarter, 23 analysts are estimating revenue of $1.09B, an increase of 43.80% less than the figure of $44.70% 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 29 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 31.00% from the average estimate. Based on 22 analysts’ estimates, the company’s revenue will be $5.67B 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 18.20% from the average revenue estimate for this year.
