DraftKings Inc. [NASDAQ: DKNG] gained 6.43% or 3.72 points to close at $61.53 with a heavy trading volume of 25952760 shares. The company report on February 26, 2021 that DraftKings Reports Fourth Quarter and Full-Year 2020 Results and Raises 2021 Revenue Guidance.
Reports Fourth Quarter Revenue of $322 million; Increases 2021 Revenue Guidance to $900 million to $1 billion.
DraftKings Inc. (Nasdaq: DKNG) (“DraftKings” or the “Company”) reported fourth quarter and full-year 2020 financial results.
It opened the trading session at $60.00, the shares rose to $62.67 and dropped to $58.27, the range by which the price of stock traded the whole day. The daily chart for DKNG points out that the company has recorded 58.34% gains over the past six months. However, it is still -480.47% lower than its most recent low trading price.
If we look at the average trading volume of 15.56M shares, DKNG reached to a volume of 25952760 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 $63.60 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 3.62, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 77.47. The Price to Book ratio for the last quarter was 10.99, with the Price to Cash per share for the same quarter was set at 3.80.
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 1.02. With this latest performance, DKNG shares gained by 13.38% in over the last four-week period, additionally plugging by 58.34% over the last 6 months – not to mention a rise of 280.52% 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 58.01, with the RSI for the last a single of trading hit 58.15, and the three-weeks RSI is set at 57.92 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 55.17, while it was recorded at 60.05 for the last single week of trading, and 44.50 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
With the latest financial reports released by the company, DraftKings Inc. posted -0.24/share EPS, while the average EPS was predicted by analysts to be reported at -0.16/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -50.00%. 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 $12,400 million, or 51.50% 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 $1.19 billion in DKNG stocks shares; and RAINE CAPITAL LLC, currently with $1.03 billion in DKNG stock with ownership of nearly -22.898% of the company’s market capitalization.
476 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 57,543,665 shares. Additionally, 129 investors decreased positions by around 38,111,811 shares, while 40 investors held positions by with 105,876,071 shares. The mentioned changes placed institutional holdings at 201,531,547 shares, according to the latest SEC report filing. DKNG stock had 256 new institutional investments in for a total of 23,981,673 shares, while 59 institutional investors sold positions of 21,016,708 shares during the same period.