DraftKings Inc. [NASDAQ: DKNG] closed the trading session at $53.34 on 12/21/20. The day’s price range saw the stock hit a low of $51.80, while the highest price level was $54.24. The company report on December 16, 2020 that DraftKings Engages InComm Payments to Launch Industry-First Retail Gift Card in Time for the Holidays.
Strategic Collaboration Enhances DraftKings’ Consumer Payment Stack and Bolsters Customer Acquisition Opportunities Through Broader National Retail Presence.
DraftKings Inc. (Nasdaq: DKNG), a leader in the digital sports entertainment and gaming industry known for its top-rated daily fantasy sports and mobile sports betting apps, announced an agreement with InComm Payments, a global leading payments technology company, to launch an industry-first retail gift card. The launch will expand DraftKings’ presence in convenience stores like 7-Eleven, Speedway, Dollar General, and Sheetz, and also enable consumers to gift the DraftKings experience to others in $25 and $50 denominations.
The stocks have a year to date performance of 398.50 percent and weekly performance of 5.46 percent. The stock has been moved at 40.41 percent over the last six months. The stock has performed 8.15 percent around the most recent 30 days and changed -1.11 percent over the most recent 3-months.
If compared to the average trading volume of 25.88M shares, DKNG reached to a volume of 12078556 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about DraftKings Inc. [DKNG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DKNG shares is $59.65 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DKNG stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for DraftKings Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 07, 2020. While these analysts kept the previous recommendation, UBS raised their target price to Neutral. The new note on the price target was released on November 24, 2020, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another raise to $58, while Piper Sandler analysts kept a Overweight rating on DKNG stock.
The Average True Range (ATR) for DraftKings Inc. is set at 2.89, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 73.21. The Price to Book ratio for the last quarter was 9.53, with the Price to Cash per share for the same quarter was set at 3.49.
DKNG stock trade performance evaluation
DraftKings Inc. [DKNG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.46. With this latest performance, DKNG shares gained by 8.15% in over the last four-week period, additionally plugging by 40.41% over the last 6 months – not to mention a rise of 424.48% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DKNG stock in for the last two-week period is set at 60.86, with the RSI for the last a single of trading hit 61.86, and the three-weeks RSI is set at 59.14 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 46.00, while it was recorded at 53.35 for the last single week of trading, and 35.63 for the last 200 days.
DraftKings Inc. [DKNG]: An insightful look at the core fundamentals
DraftKings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.90 and a Current Ratio set at 2.90.
Earnings per share (EPS) analysis for DraftKings Inc. [DKNG] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DKNG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for DraftKings Inc. go to 40.00%.
DraftKings Inc. [DKNG]: Insider Ownership positions
There are presently around $9,722 million, or 46.70% of DKNG stock, in the hands of institutional investors. The top three institutional holders of DKNG stocks are: RAINE CAPITAL LLC with ownership of 21,715,872, which is approximately 0% of the company’s market cap and around 9.20% of the total institutional ownership; VANGUARD GROUP INC, holding 20,756,583 shares of the stock with an approximate value of $1.11 billion in DKNG stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $1.02 billion in DKNG stock with ownership of nearly 11.456% of the company’s market capitalization.
286 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 25,175,171 shares. Additionally, 150 investors decreased positions by around 25,857,611 shares, while 29 investors held positions by with 131,239,428 shares. The mentioned changes placed institutional holdings at 182,272,210 shares, according to the latest SEC report filing. DKNG stock had 166 new institutional investments in for a total of 11,818,223 shares, while 65 institutional investors sold positions of 8,040,376 shares during the same period.