DraftKings Inc. [DKNG] is -33.96% lower this YTD. Is it still time to buy?

DraftKings Inc. [NASDAQ: DKNG] loss -7.35% on the last trading session, reaching $18.14 price per share at the time. The company report on August 9, 2022 that DraftKings Announces Jason Park’s Participation in Upcoming Event.


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DraftKings Inc. (Nasdaq: DKNG) (“DraftKings” or the “Company”) today announced that Jason Park, the Company’s Chief Financial Officer, will participate in the following event:.

The Canaccord Genuity 42nd Annual Growth Conference. The fireside chat is scheduled for 9:00AM ET on August 10, 2022.

DraftKings Inc. represents 437.03 million in outstanding shares, while the company has a total market value of $8.78 billion with the latest information. DKNG stock price has been found in the range of $17.985 to $19.10.

If compared to the average trading volume of 20.93M shares, DKNG reached a trading volume of 26472126 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 $26.02 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.

ROTH Capital have made an estimate for DraftKings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 17, 2022. While these analysts kept the previous recommendation, Barclays raised their target price to Equal Weight. The new note on the price target was released on June 29, 2022, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another raise to $25, while JMP Securities analysts kept a Mkt Outperform rating on DKNG stock.

The Average True Range (ATR) for DraftKings Inc. is set at 1.26, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 5.60. The Price to Book ratio for the last quarter was 4.49, with the Price to Cash per share for the same quarter was set at 4.01.

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 -12.24. With this latest performance, DKNG shares gained by 27.12% in over the last four-week period, additionally sinking by -17.77% over the last 6 months – not to mention a drop of -64.80% 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 56.08, with the RSI for the last a single of trading hit 50.94, and the three-weeks RSI is set at 57.06 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 14.39, while it was recorded at 19.95 for the last single week of trading, and 20.57 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 -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 2.30 and a Current Ratio set at 2.30.

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%.

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

There are presently around $4,561 million, or 55.20% of DKNG stock, in the hands of institutional investors. The top three institutional holders of DKNG stocks are: VANGUARD GROUP INC with ownership of 32,510,261, which is approximately 12.266% of the company’s market cap and around 2.10% of the total institutional ownership; ARK INVESTMENT MANAGEMENT LLC, holding 25,275,813 shares of the stock with an approximate value of $458.5 million in DKNG stocks shares; and BLACKROCK INC., currently with $267.14 million in DKNG stock with ownership of nearly -15.5% of the company’s market capitalization.

Positions in DraftKings Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 224 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 32,368,093 shares. Additionally, 324 investors decreased positions by around 72,713,111 shares, while 112 investors held positions by with 146,341,467 shares. The mentioned changes placed institutional holdings at 251,422,671 shares, according to the latest SEC report filing. DKNG stock had 62 new institutional investments in for a total of 12,904,623 shares, while 140 institutional investors sold positions of 34,305,617 shares during the same period.

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