DraftKings Inc. [DKNG] Stock trading around $49.33 per share: What’s Next?

DraftKings Inc. [NASDAQ: DKNG] stock went on an upward path that rose over 0.18% on Friday, amounting to a one-week price increase of more than 12.65%. The company report on July 25, 2021 that CLASS ACTION ALERT: Kessler Topaz Meltzer & Check, LLP Reminds DraftKings Inc. Shareholders of Securities Fraud Class Action Lawsuit.

The law firm of Kessler Topaz Meltzer & Check, LLP announces that a securities fraud class action lawsuit has been filed against DraftKings Inc. f

Investor Deadline Reminder: Investors who purchased or acquired DraftKings securitiesduring the Class Period may, no later than August 31, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453; toll free at (844) 887-9500; via e-mail atinfo@ktmc.com; orclick https://www.ktmc.com/draftking-class-action-lawsuit?utm_source=PR&utm_medium=link&utm_campaign=draftking.

Over the last 12 months, DKNG stock rose by 36.23%. The one-year DraftKings Inc. stock forecast points to a potential upside of 29.94. The average equity rating for DKNG stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $19.74 billion, with 397.62 million shares outstanding and 367.24 million shares in the current float. Compared to the average trading volume of 15.87M shares, DKNG stock reached a trading volume of 7000141 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $70.41 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 2.17, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 23.55. The Price to Book ratio for the last quarter was 8.45, with the Price to Cash per share for the same quarter was set at 7.80.

DKNG Stock Performance Analysis:

DraftKings Inc. [DKNG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.65. With this latest performance, DKNG shares dropped by -2.37% in over the last four-week period, additionally sinking by -6.09% over the last 6 months – not to mention a rise of 36.23% 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 52.35, with the RSI for the last a single of trading hit 57.43, and the three-weeks RSI is set at 49.85 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 48.93, while it was recorded at 47.59 for the last single week of trading, and 52.81 for the last 200 days.

Insight into DraftKings Inc. Fundamentals:

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

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 $10,891 million, or 55.00% 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 7.70% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 18,399,555 shares of the stock with an approximate value of $907.65 million in DKNG stocks shares; and RAINE CAPITAL LLC, currently with $825.95 million in DKNG stock with ownership of nearly 0% of the company’s market capitalization.

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432 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 45,990,311 shares. Additionally, 276 investors decreased positions by around 24,144,177 shares, while 76 investors held positions by with 150,645,043 shares. The mentioned changes placed institutional holdings at 220,779,531 shares, according to the latest SEC report filing. DKNG stock had 161 new institutional investments in for a total of 22,691,393 shares, while 94 institutional investors sold positions of 5,753,213 shares during the same period.

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