DraftKings Inc. [NASDAQ: DKNG] stock went on an upward path that rose over 0.12% on Tuesday, amounting to a one-week price decrease of less than -0.71%. The company report on October 12, 2021 that FORM 8.3 – DRAFTKINGS INC – Amendment.
FORM 8.3 – Amendment to Sale and Purchase.
Over the last 12 months, DKNG stock dropped by -3.28%. The one-year DraftKings Inc. stock forecast points to a potential upside of 31.22. The average equity rating for DKNG stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $20.34 billion, with 401.45 million shares outstanding and 372.15 million shares in the current float. Compared to the average trading volume of 11.91M shares, DKNG stock reached a trading volume of 8926057 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 $71.15 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.
ROTH Capital have made an estimate for DraftKings Inc. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on October 12, 2021. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on October 11, 2021, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another raise to $73, while Wells Fargo analysts kept a Overweight rating on DKNG stock. On September 14, 2021, analysts increased their price target for DKNG shares from 60 to 70.
The Average True Range (ATR) for DraftKings Inc. is set at 2.12, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 19.10. The Price to Book ratio for the last quarter was 8.91, with the Price to Cash per share for the same quarter was set at 7.12.
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 -0.71. With this latest performance, DKNG shares dropped by -19.05% in over the last four-week period, additionally sinking by -16.88% over the last 6 months – not to mention a drop of -3.28% 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 38.46, with the RSI for the last a single of trading hit 37.87, and the three-weeks RSI is set at 40.86 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 54.40, while it was recorded at 48.82 for the last single week of trading, and 54.83 for the last 200 days.
Insight into DraftKings Inc. Fundamentals:
DraftKings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.70 and a Current Ratio set at 4.70.
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 5.20%.
DraftKings Inc. [DKNG] Insider Position Details
There are presently around $12,338 million, or 62.10% of DKNG stock, in the hands of institutional investors. The top three institutional holders of DKNG stocks are: VANGUARD GROUP INC with ownership of 24,780,320, which is approximately 2.805% of the company’s market cap and around 6.70% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 19,298,544 shares of the stock with an approximate value of $944.47 million in DKNG stocks shares; and RAINE CAPITAL LLC, currently with $819.42 million in DKNG stock with ownership of nearly 0% of the company’s market capitalization.
415 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 63,112,835 shares. Additionally, 293 investors decreased positions by around 33,332,672 shares, while 106 investors held positions by with 155,660,232 shares. The mentioned changes placed institutional holdings at 252,105,739 shares, according to the latest SEC report filing. DKNG stock had 124 new institutional investments in for a total of 8,131,581 shares, while 128 institutional investors sold positions of 19,073,576 shares during the same period.