DraftKings Inc. [DKNG] is 8.72% higher this YTD. Is it still time to buy?

DraftKings Inc. [NASDAQ: DKNG] price plunged by -4.74 percent to reach at -$2.52. The company report on June 10, 2021 that DraftKings Commits to Have A Game Plan.® Bet Responsibly.™ Public Service Campaign Spearheaded by the American Gaming Association.

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Responsible Gaming Education Initiative’s First Networkwide Retail Sportsbook Rollout.

DraftKings Inc. (Nasdaq: DKNG) announced the company will collaborate with the American Gaming Association (AGA) to promote the AGA’s Have A Game Plan.® Bet Responsibly™ public service campaign. DraftKings has committed to apply the campaign to many of the company’s owned channels, including at DraftKings’ retail gaming properties, to promote safer play. This collaboration marks the first time in the industry that the Have A Game Plan campaign will be comprehensively rolled out across a national retail sportsbook footprint. The campaign will appear in all ten DraftKings retail sportsbooks across the country.

A sum of 16244479 shares traded at recent session while its average daily volume was at 16.18M shares. DraftKings Inc. shares reached a high of $53.0995 and dropped to a low of $50.41 until finishing in the latest session at $50.62.

The one-year DKNG stock forecast points to a potential upside of 28.33. The average equity rating for DKNG stock is currently 2.10, 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 $70.63 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 2.59, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 24.45. The Price to Book ratio for the last quarter was 8.67, with the Price to Cash per share for the same quarter was set at 7.72.

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 -5.40. With this latest performance, DKNG shares gained by 23.49% in over the last four-week period, additionally plugging by 1.02% over the last 6 months – not to mention a rise of 37.26% 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 48.13, with the RSI for the last a single of trading hit 47.36, and the three-weeks RSI is set at 47.28 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 53.14, while it was recorded at 53.44 for the last single week of trading, and 52.71 for the last 200 days.

Insight into DraftKings Inc. 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.

DKNG Stock EPS

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 Position Details

There are presently around $11,323 million, or 55.40% 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 8.20% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 18,399,555 shares of the stock with an approximate value of $931.38 million in DKNG stocks shares; and RAINE CAPITAL LLC, currently with $847.55 million in DKNG stock with ownership of nearly 0% of the company’s market capitalization.

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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 445 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 47,331,489 shares. Additionally, 260 investors decreased positions by around 21,436,114 shares, while 70 investors held positions by with 154,910,348 shares. The mentioned changes placed institutional holdings at 223,677,951 shares, according to the latest SEC report filing. DKNG stock had 185 new institutional investments in for a total of 23,608,196 shares, while 76 institutional investors sold positions of 3,202,306 shares during the same period.

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