DraftKings Inc. [DKNG] Revenue clocked in at $1.14 billion, down -0.84% YTD: What’s Next?



DraftKings Inc. [NASDAQ: DKNG] gained 5.58% on the last trading session, reaching $27.24 price per share at the time. The company report on January 6, 2022 that DraftKings Set to Launch Mobile Sports Betting in New York on Saturday.

New York Becomes Largest State with DraftKings Mobile Sportsbook.

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DraftKings Inc. (Nasdaq: DKNG) today announced the company will launch its mobile and online sportsbook in New York on Saturday, January 8. The Company is set to become one of the first operators to launch in the Empire State. The launch comes ahead of the NFL Playoffs, one of the busiest periods for betting activity in the year. The State authorized mobile and online sports betting in New York this past April.

DraftKings Inc. represents 403.84 million in outstanding shares, while the company has a total market value of $20.63 billion with the latest information. DKNG stock price has been found in the range of $25.79 to $27.98.

If compared to the average trading volume of 15.84M shares, DKNG reached a trading volume of 25590774 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 $59.58 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 2.30. 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.

MoffettNathanson have made an estimate for DraftKings Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 13, 2021. While these analysts kept the previous recommendation, Truist dropped their target price from $55 to $50. The new note on the price target was released on November 08, 2021, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another drop from $41 to $39, while ROTH Capital kept a Sell rating on DKNG stock. On November 08, 2021, analysts decreased their price target for DKNG shares from 80 to 70.

The Average True Range (ATR) for DraftKings Inc. is set at 2.21, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 18.02. The Price to Book ratio for the last quarter was 6.03, with the Price to Cash per share for the same quarter was set at 3.80.

Trading performance analysis for DKNG stock

DraftKings Inc. [DKNG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.84. With this latest performance, DKNG shares dropped by -18.39% in over the last four-week period, additionally sinking by -44.59% over the last 6 months – not to mention a drop of -47.62% 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 42.34, with the RSI for the last a single of trading hit 46.14, and the three-weeks RSI is set at 39.98 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 34.29, while it was recorded at 26.42 for the last single week of trading, and 48.00 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 3.20 and a Current Ratio set at 3.20.

DraftKings Inc. [DKNG]: An earnings per share (EPS) analysis

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 -6.80%.

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An analysis of insider ownership at DraftKings Inc. [DKNG]

There are presently around $6,985 million, or 62.70% of DKNG stock, in the hands of institutional investors. The top three institutional holders of DKNG stocks are: VANGUARD GROUP INC with ownership of 24,718,581, which is approximately -0.249% of the company’s market cap and around 6.60% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 19,751,444 shares of the stock with an approximate value of $538.03 million in DKNG stocks shares; and ARK INVESTMENT MANAGEMENT LLC, currently with $477.65 million in DKNG stock with ownership of nearly 28.667% of the company’s market capitalization.

Positions in DraftKings Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 400 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 34,189,699 shares. Additionally, 276 investors decreased positions by around 29,629,173 shares, while 112 investors held positions by with 192,609,950 shares. The mentioned changes placed institutional holdings at 256,428,822 shares, according to the latest SEC report filing. DKNG stock had 109 new institutional investments in for a total of 4,425,647 shares, while 76 institutional investors sold positions of 3,147,774 shares during the same period.