DraftKings Inc. [DKNG] Revenue clocked in at $292.30 million, up 29.45% YTD: What’s Next?

DraftKings Inc. [NASDAQ: DKNG] plunged by -$0.1 during the normal trading session on Tuesday and reaching a high of $60.44 during the day while it closed the day at $60.27. The company report on February 23, 2021 that DraftKings Publishes First Environmental, Social and Governance Report.

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DraftKings Inc. (Nasdaq: DKNG) (the “Company”, “DraftKings”) released its inaugural Environmental, Social and Governance (“ESG”) Report. The ESG Report highlights DraftKings’ commitment to social and corporate responsibility in 2020 and details the company’s views on sustainable growth.

“Throughout our journey to becoming a leader in digital sports entertainment and gaming, our business decisions have been guided by our corporate responsibility and ethics,” said Jason Robins, DraftKings co-founder, CEO and Chairman. “Our commitment to cybersecurity, sustainability, compliance, responsible gaming, the health of our employees and the betterment of our communities is intrinsic to the continued success of our business and the value we deliver for our shareholders.”.

DraftKings Inc. stock has also loss -0.38% of its value over the past 7 days. However, DKNG stock has inclined by 22.20% in the 3 months of the year. Over the past six months meanwhile, it has gained 71.47% and gained 29.45% year-on date.

The market cap for DKNG stock reached $22.59 billion, with 355.90 million shares outstanding and 328.37 million shares in the current float. Compared to the average trading volume of 15.71M shares, DKNG reached a trading volume of 17420073 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 $62.00 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 3.44, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 77.28. The Price to Book ratio for the last quarter was 10.76, with the Price to Cash per share for the same quarter was set at 3.73.

DKNG stock trade performance evaluation

DraftKings Inc. [DKNG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.38. With this latest performance, DKNG shares gained by 14.73% in over the last four-week period, additionally plugging by 71.47% over the last 6 months – not to mention a rise of 262.20% 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 56.50, with the RSI for the last a single of trading hit 54.74, and the three-weeks RSI is set at 57.06 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 54.60, while it was recorded at 59.74 for the last single week of trading, and 43.97 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 $12,143 million, or 50.10% of DKNG stock, in the hands of institutional investors. The top three institutional holders of DKNG stocks are: VANGUARD GROUP INC with ownership of 23,505,638, which is approximately 13.244% of the company’s market cap and around 8.30% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 19,386,231 shares of the stock with an approximate value of $1.17 billion in DKNG stocks shares; and RAINE CAPITAL LLC, currently with $1.01 billion in DKNG stock with ownership of nearly -22.898% of the company’s market capitalization.

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473 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 57,472,794 shares. Additionally, 128 investors decreased positions by around 38,061,227 shares, while 40 investors held positions by with 105,950,438 shares. The mentioned changes placed institutional holdings at 201,484,459 shares, according to the latest SEC report filing. DKNG stock had 252 new institutional investments in for a total of 23,911,134 shares, while 58 institutional investors sold positions of 20,966,124 shares during the same period.

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