DraftKings Inc. [DKNG] is -52.13% lower this YTD. Is it still time to buy?


DraftKings Inc. [NASDAQ: DKNG] closed the trading session at $13.15 on 05/06/22. The day’s price range saw the stock hit a low of $12.965, while the highest price level was $15.0428. The company report on May 6, 2022 that DraftKings Reports First Quarter Revenue of $417 Million; First Quarter B2C Segment Revenue Increases 44% YOY and Company-Wide Adjusted EBITDA Exceeds Midpoint of Guidance by More Than 12%.

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Raises 2022 guidance for both revenue and Adjusted EBITDA based on continued strong customer behavior and optimization of cost structure.

DraftKings Inc. (Nasdaq: DKNG) (“DraftKings” or the “Company”) today reported its first quarter 2022 financial results.

The stocks have a year to date performance of -52.13 percent and weekly performance of -3.87 percent. The stock has been moved at -70.57 percent over the last six months. The stock has performed -25.62 percent around the most recent 30 days and changed -39.93 percent over the most recent 3-months.

If compared to the average trading volume of 25.41M shares, DKNG reached to a volume of 41327951 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $31.22 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 1.35, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 4.55. The Price to Book ratio for the last quarter was 3.19, with the Price to Cash per share for the same quarter was set at 5.86.

DKNG stock trade performance evaluation

DraftKings Inc. [DKNG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.87. With this latest performance, DKNG shares dropped by -25.62% in over the last four-week period, additionally sinking by -70.57% over the last 6 months – not to mention a drop of -72.84% 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 36.50, with the RSI for the last a single of trading hit 34.13, and the three-weeks RSI is set at 38.23 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 17.60, while it was recorded at 14.68 for the last single week of trading, and 34.47 for the last 200 days.

DraftKings Inc. [DKNG]: An insightful look at the core 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.

Earnings per share (EPS) analysis for DraftKings Inc. [DKNG] stock

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 Ownership positions

There are presently around $4,095 million, or 68.00% of DKNG stock, in the hands of institutional investors. The top three institutional holders of DKNG stocks are: VANGUARD GROUP INC with ownership of 28,426,669, which is approximately 6.243% 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 $307.93 million in DKNG stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $260.08 million in DKNG stock with ownership of nearly 0.135% 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 318 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 50,681,933 shares. Additionally, 378 investors decreased positions by around 35,286,217 shares, while 109 investors held positions by with 225,405,329 shares. The mentioned changes placed institutional holdings at 311,373,479 shares, according to the latest SEC report filing. DKNG stock had 95 new institutional investments in for a total of 9,911,439 shares, while 169 institutional investors sold positions of 10,195,381 shares during the same period.