DraftKings Inc. [NASDAQ: DKNG] closed the trading session at $44.89 on 05/14/21. The day’s price range saw the stock hit a low of $41.44, while the highest price level was $45.29. The company report on May 7, 2021 that DraftKings Reports First Quarter 2021 Results and Raises 2021 Revenue Guidance.
Reports First Quarter Revenue of $312 million; Increases 2021 Revenue Guidance to $1.05 billion to $1.15 billion; Announces upcoming rollout of social functionality to DFS and mobile sportsbook apps.
DraftKings Inc. (Nasdaq: DKNG) (“DraftKings” or the “Company”) reported first quarter 2021 financial results.
The stocks have a year to date performance of -3.59 percent and weekly performance of -7.29 percent. The stock has been moved at 7.80 percent over the last six months. The stock has performed -21.90 percent around the most recent 30 days and changed -26.49 percent over the most recent 3-months.
If compared to the average trading volume of 17.29M shares, DKNG reached to a volume of 28354813 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 $73.57 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 2.10. 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.
Berenberg have made an estimate for DraftKings Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 12, 2021. The new note on the price target was released on May 03, 2021, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another raise to $75, while Guggenheim analysts kept a Buy rating on DKNG stock.
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 19.61. The Price to Book ratio for the last quarter was 7.69, with the Price to Cash per share for the same quarter was set at 8.53.
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 -7.29. With this latest performance, DKNG shares dropped by -21.90% in over the last four-week period, additionally plugging by 7.80% over the last 6 months – not to mention a rise of 77.36% 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 32.12, with the RSI for the last a single of trading hit 31.44, and the three-weeks RSI is set at 34.83 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 59.80, while it was recorded at 43.47 for the last single week of trading, and 51.25 for the last 200 days.
DraftKings Inc. [DKNG]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and DraftKings Inc. [DKNG] shares currently have an operating margin of -132.19 and a Gross Margin at +43.60. DraftKings Inc.’s Net Margin is presently recorded at -200.45.
Return on Total Capital for DKNG is now -52.37, given the latest momentum, and Return on Invested Capital for the company is -79.75. Return on Equity for this stock declined to -81.56, with Return on Assets sitting at -64.09. When it comes to the capital structure of this company, DraftKings Inc. [DKNG] has a Total Debt to Total Equity ratio set at 3.10. Additionally, DKNG Total Debt to Total Capital is recorded at 3.01, with Total Debt to Total Assets ending up at 2.37. Long-Term Debt to Equity for the company is recorded at 2.61, with the Long-Term Debt to Total Capital now at 2.54.
Reflecting on the efficiency of the workforce at the company, DraftKings Inc. [DKNG] managed to generate an average of -$473,783 per employee. Receivables Turnover for the company is 16.44 with a Total Asset Turnover recorded at a value of 0.32.DraftKings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.00 and a Current Ratio set at 5.00.
Earnings per share (EPS) analysis for DraftKings Inc. [DKNG] stock
With the latest financial reports released by the company, DraftKings Inc. posted -0.4/share EPS, while the average EPS was predicted by analysts to be reported at -0.2/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -100.00%. 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%.
DraftKings Inc. [DKNG]: Insider Ownership positions
There are presently around $10,081 million, or 54.60% of DKNG stock, in the hands of institutional investors. The top three institutional holders of DKNG stocks are: VANGUARD GROUP INC with ownership of 24,104,146, which is approximately 2.546% of the company’s market cap and around 8.50% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 19,386,231 shares of the stock with an approximate value of $870.25 million in DKNG stocks shares; and RAINE CAPITAL LLC, currently with $751.61 million in DKNG stock with ownership of nearly -22.898% of the company’s market capitalization.
Positions in DraftKings Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 457 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 66,720,700 shares. Additionally, 232 investors decreased positions by around 32,303,975 shares, while 62 investors held positions by with 125,554,014 shares. The mentioned changes placed institutional holdings at 224,578,689 shares, according to the latest SEC report filing. DKNG stock had 210 new institutional investments in for a total of 35,051,954 shares, while 77 institutional investors sold positions of 17,253,408 shares during the same period.