DraftKings Inc. [NASDAQ: DKNG] price surged by 2.81 percent to reach at $1.7. The company report on March 8, 2021 that DraftKings Celebrates International Women’s Day with Support for Women Entrepreneurs & Buy Women-Owned Initiative for Employees.
Establishes International Women’s Day as Official Company Holiday.
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In honor of International Women’s Day, DraftKings Inc. (Nasdaq: DKNG) is undertaking a variety of internal and external efforts to support women entrepreneurs and small business owners throughout March, while also recognizing the day as an official company holiday for its 2,600 global employees. The company will donate up to $350,000 to several U.S. and global nonprofit organizations focused on empowering and aiding women entrepreneurs and women-founded small businesses, and as part of the company’s free Women’s History Month Sports Popularity Pool, which highlights the greatest athletes and moments in women’s sports. With an initial donation of $150,000, for every 25,000 entries into the pool, DraftKings will increase its donation total by $10,000, up to a combined total of $350,000.
A sum of 16964423 shares traded at recent session while its average daily volume was at 16.29M shares. DraftKings Inc. shares reached a high of $64.83 and dropped to a low of $61.95 until finishing in the latest session at $62.20.
The one-year DKNG stock forecast points to a potential upside of 12.8. 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 $71.33 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 4.52, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 88.03. The Price to Book ratio for the last quarter was 11.11, with the Price to Cash per share for the same quarter was set at 3.38.
DKNG Stock Performance Analysis:
DraftKings Inc. [DKNG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.30. With this latest performance, DKNG shares dropped by -2.61% in over the last four-week period, additionally plugging by 68.11% over the last 6 months – not to mention a rise of 265.67% 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 53.54, with the RSI for the last a single of trading hit 51.88, and the three-weeks RSI is set at 54.62 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 56.65, while it was recorded at 61.98 for the last single week of trading, and 45.74 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
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.
DraftKings Inc. [DKNG] Insider Position Details
There are presently around $12,228 million, or 50.90% 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 8.20% 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.
479 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 58,116,187 shares. Additionally, 133 investors decreased positions by around 38,114,918 shares, while 40 investors held positions by with 105,878,357 shares. The mentioned changes placed institutional holdings at 202,109,462 shares, according to the latest SEC report filing. DKNG stock had 258 new institutional investments in for a total of 24,552,699 shares, while 63 institutional investors sold positions of 21,019,815 shares during the same period.