DraftKings Inc. [DKNG] is 24.63% higher this YTD. Is it still time to buy?

DraftKings Inc. [NASDAQ: DKNG] loss -6.87% on the last trading session, reaching $58.03 price per share at the time. The company report on April 12, 2021 that DraftKings to Release First Quarter 2021 Results May 7.

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DraftKings Inc. (Nasdaq: DKNG) (the “Company”, “DraftKings”) announced that it will release its first quarter 2021 results prior to 8:30AM EDT on May 7, 2021.

At 8:30AM EDT on the same day, DraftKings will host a conference call to discuss the results.

DraftKings Inc. represents 388.58 million in outstanding shares, while the company has a total market value of $22.63 billion with the latest information. DKNG stock price has been found in the range of $57.14 to $61.8861.

If compared to the average trading volume of 16.06M shares, DKNG reached a trading volume of 23807560 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 $73.27 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.

Goldman have made an estimate for DraftKings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 23, 2021. While these analysts kept the previous recommendation, The Benchmark Company raised their target price from $69 to $75. The new note on the price target was released on March 10, 2021, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another raise from $60 to $66, while The Benchmark Company kept a Buy rating on DKNG stock.

The Average True Range (ATR) for DraftKings Inc. is set at 4.21, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 36.83. The Price to Book ratio for the last quarter was 8.36, with the Price to Cash per share for the same quarter was set at 5.40.

Trading performance analysis for DKNG stock

DraftKings Inc. [DKNG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.34. With this latest performance, DKNG shares dropped by -18.96% in over the last four-week period, additionally plugging by 13.50% over the last 6 months – not to mention a rise of 299.93% 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 40.32, with the RSI for the last a single of trading hit 34.87, and the three-weeks RSI is set at 44.02 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 63.14, while it was recorded at 61.47 for the last single week of trading, and 48.84 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 4.00 and a Current Ratio set at 4.00.

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 30.30%.

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

There are presently around $11,735 million, or 51.10% 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 8.20% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 19,386,231 shares of the stock with an approximate value of $1.12 billion in DKNG stocks shares; and RAINE CAPITAL LLC, currently with $971.61 million in DKNG stock with ownership of nearly -22.898% of the company’s market capitalization.

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479 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 57,988,794 shares. Additionally, 138 investors decreased positions by around 38,131,006 shares, while 41 investors held positions by with 106,094,774 shares. The mentioned changes placed institutional holdings at 202,214,574 shares, according to the latest SEC report filing. DKNG stock had 257 new institutional investments in for a total of 24,444,503 shares, while 62 institutional investors sold positions of 21,019,377 shares during the same period.

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