DraftKings Inc. [NASDAQ: DKNG] loss -1.25% on the last trading session, reaching $46.59 price per share at the time. The company report on October 27, 2021 that FORM 8.3 – DRAFTKINGS INC.
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DraftKings Inc. represents 401.45 million in outstanding shares, while the company has a total market value of $39.50 billion with the latest information. DKNG stock price has been found in the range of $46.35 to $47.80.
If compared to the average trading volume of 12.57M shares, DKNG reached a trading volume of 8188144 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $69.80 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.
BTIG Research have made an estimate for DraftKings Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 27, 2021. While these analysts kept the previous recommendation, ROTH Capital raised their target price to Sell. The new note on the price target was released on October 12, 2021, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another raise to $66, while Citigroup analysts kept a Buy rating on DKNG stock.
The Average True Range (ATR) for DraftKings Inc. is set at 1.92, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 37.09. The Price to Book ratio for the last quarter was 8.49, with the Price to Cash per share for the same quarter was set at 3.49.
Trading performance analysis for DKNG stock
DraftKings Inc. [DKNG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.04. With this latest performance, DKNG shares dropped by -3.26% in over the last four-week period, additionally sinking by -18.38% over the last 6 months – not to mention a rise of 24.67% 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 38.23, with the RSI for the last a single of trading hit 37.28, and the three-weeks RSI is set at 39.86 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 53.50, while it was recorded at 47.43 for the last single week of trading, and 54.69 for the last 200 days.
DraftKings Inc. [DKNG]: A deeper dive into fundamental analysis
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.
DraftKings Inc. [DKNG]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, DraftKings Inc. posted -0.98/share EPS, while the average EPS was predicted by analysts to be reported at -0.61/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -60.70%. 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%.
An analysis of insider ownership at DraftKings Inc. [DKNG]
There are presently around $11,860 million, or 61.60% of DKNG stock, in the hands of institutional investors. The top three institutional holders of DKNG stocks are: VANGUARD GROUP INC with ownership of 24,780,320, 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 $899.12 million in DKNG stocks shares; and RAINE CAPITAL LLC, currently with $780.07 million in DKNG stock with ownership of nearly 0% of the company’s market capitalization.
Positions in DraftKings Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 415 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 62,762,204 shares. Additionally, 285 investors decreased positions by around 31,293,433 shares, while 107 investors held positions by with 160,505,545 shares. The mentioned changes placed institutional holdings at 254,561,182 shares, according to the latest SEC report filing. DKNG stock had 118 new institutional investments in for a total of 8,181,210 shares, while 120 institutional investors sold positions of 16,602,494 shares during the same period.