DraftKings Inc. [NASDAQ: DKNG] gained 16.46% on the last trading session, reaching $33.75 price per share at the time. The company report on November 2, 2023 at 4:15 PM that DraftKings Reports Third Quarter Revenue of $790 Million; Raises 2023 Revenue Guidance Midpoint to $3.695 Billion and Improves 2023 Adjusted EBITDA Guidance Midpoint to ($105) Million.
Introduces Fiscal Year 2024 Revenue Guidance of $4.5 Billion to $4.8 Billion and Fiscal Year 2024 Adjusted EBITDA Guidance of $350 Million to $450 Million.
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DraftKings Inc. represents 450.57 million in outstanding shares, while the company has a total market value of $15.66 billion with the latest information. DKNG stock price has been found in the range of $30.14 to $34.21.
If compared to the average trading volume of 12.25M shares, DKNG reached a trading volume of 48150504 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 $37.42 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 1.56. 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 Buy, with their previous recommendation back on October 24, 2023.
The Average True Range (ATR) for DraftKings Inc. is set at 1.69, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 4.76. The Price to Book ratio for the last quarter was 19.62, with the Price to Cash per share for the same quarter was set at 3.42.
Trading performance analysis for DKNG stock
DraftKings Inc. [DKNG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 26.69. With this latest performance, DKNG shares gained by 18.96% in over the last four-week period, additionally plugging by 37.31% over the last 6 months – not to mention a rise of 112.00% 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 67.00, with the RSI for the last a single of trading hit 73.78, and the three-weeks RSI is set at 62.90 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 29.22, while it was recorded at 28.90 for the last single week of trading, and 24.43 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 -67.48 and a Gross Margin at +33.75. DraftKings Inc.’s Net Margin is presently recorded at -61.50.
Return on Total Capital for DKNG is now -53.57, given the latest momentum, and Return on Invested Capital for the company is -48.97. Return on Equity for this stock declined to -91.83, with Return on Assets sitting at -33.99. When it comes to the capital structure of this company, DraftKings Inc. [DKNG] has a Total Debt to Total Equity ratio set at 100.15. Additionally, DKNG Total Debt to Total Capital is recorded at 50.04, with Total Debt to Total Assets ending up at 32.79. Long-Term Debt to Equity for the company is recorded at 99.83, with the Long-Term Debt to Total Capital now at 49.88.
Reflecting on the efficiency of the workforce at the company, DraftKings Inc. [DKNG] managed to generate an average of -$328,092 per employee. Receivables Turnover for the company is 14.50 with a Total Asset Turnover recorded at a value of 0.55.DraftKings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.29 and a Current Ratio set at 1.29.
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 38.10%.
An analysis of Institutional ownership at DraftKings Inc. [DKNG]
The top three institutional holders of DKNG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in DKNG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in DKNG stock with ownership which is approximately 5.7994%.
