DraftKings Inc. [DKNG] Revenue clocked in at $292.30 million, up 17.35% YTD: What’s Next?

DraftKings Inc. [NASDAQ: DKNG] gained 0.98% on the last trading session, reaching $54.64 price per share at the time. The company report on January 30, 2021 that DraftKings Announces Matt Kalish’s Participation in Upcoming Virtual Event.

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DraftKings Inc. (Nasdaq: DKNG) announced that Matt Kalish, co-founder and President, North America, will participate in the following event:.

EGR Global and Continent8 host “Leaders and Legends” on Tuesday, February 2, 2021. The panel discussion is scheduled for 9:00AM ET.

DraftKings Inc. represents 355.90 million in outstanding shares, while the company has a total market value of $22.22 billion with the latest information. DKNG stock price has been found in the range of $53.1416 to $55.75.

If compared to the average trading volume of 18.64M shares, DKNG reached a trading volume of 10021375 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $61.38 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.

The Benchmark Company have made an estimate for DraftKings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 01, 2021. While these analysts kept the previous recommendation, Bernstein raised their target price to Outperform. The new note on the price target was released on January 27, 2021, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another raise from $45 to $65, while Goldman kept a Buy rating on DKNG stock. On January 20, 2021, analysts increased their price target for DKNG shares from 39 to 60.

The Average True Range (ATR) for DraftKings Inc. is set at 3.35, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 76.01. The Price to Book ratio for the last quarter was 9.76, with the Price to Cash per share for the same quarter was set at 3.44.

Trading performance analysis for DKNG stock

DraftKings Inc. [DKNG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.53. With this latest performance, DKNG shares gained by 11.62% in over the last four-week period, additionally plugging by 63.72% over the last 6 months – not to mention a rise of 276.05% 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 56.32, with the RSI for the last a single of trading hit 56.78, and the three-weeks RSI is set at 55.84 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 51.25, while it was recorded at 54.65 for the last single week of trading, and 40.87 for the last 200 days.

DraftKings Inc. [DKNG]: A deeper dive into fundamental analysis

DraftKings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.90 and a Current Ratio set at 2.90.

DraftKings Inc. [DKNG]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at DraftKings Inc. [DKNG]

There are presently around $9,962 million, or 46.30% 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 8.30% of the total institutional ownership; VANGUARD GROUP INC, holding 20,756,583 shares of the stock with an approximate value of $1.13 billion in DKNG stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $1.05 billion in DKNG stock with ownership of nearly 11.456% of the company’s market capitalization.

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315 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 25,422,051 shares. Additionally, 145 investors decreased positions by around 26,866,403 shares, while 33 investors held positions by with 130,037,742 shares. The mentioned changes placed institutional holdings at 182,326,196 shares, according to the latest SEC report filing. DKNG stock had 166 new institutional investments in for a total of 11,887,953 shares, while 63 institutional investors sold positions of 7,972,513 shares during the same period.

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