Argus lifts DraftKings Inc. [DKNG] price estimate. Who else is bullish?

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DraftKings Inc. [NASDAQ: DKNG] stock went on a downward path that fall over -2.98% on Friday, amounting to a one-week price decrease of less than -2.49%. The company report on April 29, 2022 that DraftKings Celebrates Arbor Day.

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Northampton, MA –News Direct– DraftKings.

In honor of the 150th anniversary of Arbor Day, DraftKings is celebrating the environment & reaching its goal of funding the planting of 1M trees in collaboration with the Arbor Day Foundation and Gisele Bündchen to address areas in need of reforestation & improve the world we live in.

Over the last 12 months, DKNG stock dropped by -75.86%. The one-year DraftKings Inc. stock forecast points to a potential upside of 59.04. The average equity rating for DKNG stock is currently 2.30, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $5.76 billion, with 406.99 million shares outstanding and 377.23 million shares in the current float. Compared to the average trading volume of 25.59M shares, DKNG stock reached a trading volume of 21871503 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 $33.40 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.

Argus have made an estimate for DraftKings Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 07, 2022. While these analysts kept the previous recommendation, ROTH Capital dropped their target price from $23 to $19. The new note on the price target was released on February 22, 2022, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another drop from $30 to $22, while Truist kept a Hold rating on DKNG stock. On February 22, 2022, analysts decreased their price target for DKNG shares from 35 to 32.

The Average True Range (ATR) for DraftKings Inc. is set at 1.24, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 4.45. The Price to Book ratio for the last quarter was 3.32, with the Price to Cash per share for the same quarter was set at 6.24.

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 -2.49. With this latest performance, DKNG shares dropped by -32.97% in over the last four-week period, additionally sinking by -71.00% over the last 6 months – not to mention a drop of -75.86% 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 34.82, with the RSI for the last a single of trading hit 31.25, and the three-weeks RSI is set at 37.32 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 18.12, while it was recorded at 14.06 for the last single week of trading, and 35.26 for the last 200 days.

Insight into DraftKings Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and DraftKings Inc. [DKNG] shares currently have an operating margin of -114.62 and a Gross Margin at +38.72. DraftKings Inc.’s Net Margin is presently recorded at -117.53.

Return on Equity for this stock declined to -70.68, with Return on Assets sitting at -40.57.

DraftKings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.00 and a Current Ratio set at 3.00.

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 -6.80%.

DraftKings Inc. [DKNG] Insider Position Details

There are presently around $3,803 million, or 66.80% of DKNG stock, in the hands of institutional investors. The top three institutional holders of DKNG stocks are: VANGUARD GROUP INC with ownership of 26,338,845, which is approximately 6.555% of the company’s market cap and around 2.20% of the total institutional ownership; ARK INVESTMENT MANAGEMENT LLC, holding 23,416,465 shares of the stock with an approximate value of $320.34 million in DKNG stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $270.18 million in DKNG stock with ownership of nearly -0.006% of the company’s market capitalization.

Positions in DraftKings Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 311 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 45,399,644 shares. Additionally, 385 investors decreased positions by around 30,224,604 shares, while 98 investors held positions by with 202,374,640 shares. The mentioned changes placed institutional holdings at 277,998,888 shares, according to the latest SEC report filing. DKNG stock had 106 new institutional investments in for a total of 11,056,028 shares, while 169 institutional investors sold positions of 5,752,683 shares during the same period.