DraftKings Inc. [DKNG] gain 29.85% so far this year. What now?

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DraftKings Inc. [NASDAQ: DKNG] traded at a low on 09/13/21, posting a -3.20 loss after which it closed the day’ session at $60.46. The company report on September 9, 2021 that DraftKings Launches Online Sports Betting in Arizona.

Arrival of Top-Rated Mobile Sportsbook App Follows Successful Daily Fantasy Sports Debut.

DraftKings Inc. (Nasdaq: DKNG) announced the launch of DraftKings’ online Sportsbook in Arizona, marking the 14th state in which the top-rated mobile sportsbook is available. Arizona sports fans age 21 and over are now able to place wagers on a variety of betting markets across professional, collegiate and other sports leagues via the DraftKings Sportsbook app. The announcement comes following a successful launch of DraftKings’ daily fantasy product which experienced more than 90,000 contest entries in the first 12 days.

The results of the trading session contributed to over 11549266 shares changing hands. Over the past one week, the price volatility of DraftKings Inc. stands at 4.12% while the volatility over the past one month is 3.83%.

The market cap for DKNG stock reached $24.86 billion, with 401.45 million shares outstanding and 372.15 million shares in the current float. Compared to the average trading volume of 12.76M shares, DKNG reached a trading volume of 11549266 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $70.85 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 2.00. 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 August 09, 2021. While these analysts kept the previous recommendation, Berenberg raised their target price from $41 to $42.50. The new note on the price target was released on May 12, 2021, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another raise to $70, while Cowen analysts kept a Outperform rating on DKNG stock.

The Average True Range (ATR) for DraftKings Inc. is set at 2.31, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 23.34. The Price to Book ratio for the last quarter was 11.01, with the Price to Cash per share for the same quarter was set at 7.20.

How has DKNG stock performed recently?

DraftKings Inc. [DKNG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.92. With this latest performance, DKNG shares gained by 10.71% in over the last four-week period, additionally sinking by -10.76% over the last 6 months – not to mention a rise of 45.83% 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 59.64, with the RSI for the last a single of trading hit 55.43, and the three-weeks RSI is set at 60.14 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 52.76, while it was recorded at 62.71 for the last single week of trading, and 54.75 for the last 200 days.

DraftKings Inc. [DKNG]: Deeper insight into the 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 4.70 and a Current Ratio set at 4.70.

Earnings analysis for DraftKings Inc. [DKNG]

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%.

Insider trade positions for DraftKings Inc. [DKNG]

There are presently around $15,229 million, or 60.90% of DKNG stock, in the hands of institutional investors. The top three institutional holders of DKNG stocks are: VANGUARD GROUP INC with ownership of 24,780,320, which is approximately 2.805% of the company’s market cap and around 6.90% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 19,298,544 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 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 August and at the time of the August reporting period, where 416 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 63,081,110 shares. Additionally, 297 investors decreased positions by around 33,344,763 shares, while 103 investors held positions by with 155,463,035 shares. The mentioned changes placed institutional holdings at 251,888,908 shares, according to the latest SEC report filing. DKNG stock had 123 new institutional investments in for a total of 8,146,115 shares, while 130 institutional investors sold positions of 19,084,618 shares during the same period.

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