DraftKings Inc. [NASDAQ: DKNG] price surged by 1.12 percent to reach at $0.71. The company report on February 4, 2021 that DraftKings and NFL Expand Exclusive Daily Fantasy Partnership to Canada.
Geographic Expansion of Agreement Enhances Product Offering for Canadian Sports Fans.
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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 and the National Football League (NFL) reached an agreement to expand their current daily fantasy sports (DFS) and content partnership to Canada. Previously, the landmark marketing and content deal between DraftKings and the NFL was limited to the United States. ’s announcement of an expanded deal further deepens the relationship between the two organizations and enhances the DFS fan experience in Canada as the NFL season approaches the Super Bowl.
A sum of 16283858 shares traded at recent session while its average daily volume was at 18.33M shares. DraftKings Inc. shares reached a high of $64.51 and dropped to a low of $62.41 until finishing in the latest session at $63.87.
The one-year DKNG stock forecast points to a potential downside of -3.63. The average equity rating for DKNG stock is currently 2.20, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $61.63 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 3.36, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 84.64. The Price to Book ratio for the last quarter was 11.41, with the Price to Cash per share for the same quarter was set at 3.61.
DKNG Stock Performance Analysis:
DraftKings Inc. [DKNG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.04. With this latest performance, DKNG shares gained by 30.36% in over the last four-week period, additionally plugging by 89.81% over the last 6 months – not to mention a rise of 369.29% 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 71.94, with the RSI for the last a single of trading hit 77.95, and the three-weeks RSI is set at 67.71 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 52.31, while it was recorded at 60.22 for the last single week of trading, and 41.76 for the last 200 days.
Insight into DraftKings Inc. 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.
DKNG Stock EPS
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 Position Details
There are presently around $11,915 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 8.30% of the total institutional ownership; VANGUARD GROUP INC, holding 20,756,583 shares of the stock with an approximate value of $1.33 billion in DKNG stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $1.23 billion in DKNG stock with ownership of nearly 11.456% of the company’s market capitalization.
342 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 28,870,472 shares. Additionally, 142 investors decreased positions by around 27,390,653 shares, while 35 investors held positions by with 130,285,491 shares. The mentioned changes placed institutional holdings at 186,546,616 shares, according to the latest SEC report filing. DKNG stock had 177 new institutional investments in for a total of 13,157,130 shares, while 62 institutional investors sold positions of 7,945,805 shares during the same period.