DraftKings Inc. [NASDAQ: DKNG] stock went on a downward path that fall over -4.46% on Friday, amounting to a one-week price increase of more than 2.13%. The company report on February 16, 2023 that DraftKings Reports Fourth Quarter Revenue of $855 Million; Raises 2023 Revenue Guidance Midpoint to $2.95 Billion and Improves 2023 Adjusted EBITDA Guidance Midpoint to ($400) Million.
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Expects to Exit Fiscal Year 2023 with More Than $700 Million in Cash and Generate Positive Adjusted EBITDA in Fiscal Year 2024.
Over the last 12 months, DKNG stock dropped by -7.34%. The one-year DraftKings Inc. stock forecast points to a potential upside of 24.37. The average equity rating for DKNG stock is currently 2.40, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $8.60 billion, with 449.22 million shares outstanding and 435.73 million shares in the current float. Compared to the average trading volume of 14.03M shares, DKNG stock reached a trading volume of 13537009 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 $24.05 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 2.40. 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 Buy, with their previous recommendation back on February 17, 2023. The new note on the price target was released on February 09, 2023, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another raise to $15, while ROTH Capital analysts kept a Sell rating on DKNG stock.
The Average True Range (ATR) for DraftKings Inc. is set at 1.16, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 3.84. The Price to Book ratio for the last quarter was 6.19, with the Price to Cash per share for the same quarter was set at 3.76.
DKNG Stock Performance Analysis:
DraftKings Inc. [DKNG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.13. With this latest performance, DKNG shares gained by 25.02% in over the last four-week period, additionally plugging by 4.24% over the last 6 months – not to mention a drop of -7.34% 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 58.61, with the RSI for the last a single of trading hit 55.11, and the three-weeks RSI is set at 59.30 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 14.51, while it was recorded at 19.45 for the last single week of trading, and 14.65 for the last 200 days.
Insight into DraftKings Inc. Fundamentals:
DraftKings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 1.70.
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 35.40%.
DraftKings Inc. [DKNG] Insider Position Details
There are presently around $4,729 million, or 58.20% of DKNG stock, in the hands of institutional investors. The top three institutional holders of DKNG stocks are: VANGUARD GROUP INC with ownership of 35,263,897, which is approximately 1.826% of the company’s market cap and around 2.10% of the total institutional ownership; ARK INVESTMENT MANAGEMENT LLC, holding 25,032,084 shares of the stock with an approximate value of $455.33 million in DKNG stocks shares; and BLACKROCK INC., currently with $279.11 million in DKNG stock with ownership of nearly 6.112% of the company’s market capitalization.
235 institutional holders increased their position in DraftKings Inc. [NASDAQ:DKNG] by around 34,766,739 shares. Additionally, 252 investors decreased positions by around 36,376,386 shares, while 106 investors held positions by with 188,835,679 shares. The mentioned changes placed institutional holdings at 259,978,804 shares, according to the latest SEC report filing. DKNG stock had 80 new institutional investments in for a total of 12,768,427 shares, while 96 institutional investors sold positions of 23,221,481 shares during the same period.