DraftKings Inc. [NASDAQ: DKNG] stock went on an upward path that rose over 3.08% on Monday, amounting to a one-week price increase of more than 11.20%. The company report on February 15, 2024 at 4:25 PM that DraftKings Reports Fourth Quarter Revenue of $1,231 Million; Raises 2024 Revenue Guidance Midpoint to $4.775 Billion and 2024 Adjusted EBITDA Guidance Midpoint to $460 Million.
Over the last 12 months, DKNG stock rose by 141.50%. The one-year DraftKings Inc. stock forecast points to a potential upside of 9.08. The average equity rating for DKNG stock is currently 1.56, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $21.25 billion, with 472.70 million shares outstanding and 452.95 million shares in the current float. Compared to the average trading volume of 12.44M shares, DKNG stock reached a trading volume of 13625451 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 $49.35 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.
Morgan Stanley have made an estimate for DraftKings Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 28, 2024. While these analysts kept the previous recommendation, Barclays raised their target price from $41 to $50. The new note on the price target was released on February 23, 2024, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another raise from $55 to $60, while Oppenheimer kept a Outperform rating on DKNG stock. On February 20, 2024, analysts increased their price target for DKNG shares from 50 to 54.
The Average True Range (ATR) for DraftKings Inc. is set at 1.68, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 5.80. The Price to Book ratio for the last quarter was 25.24, with the Price to Cash per share for the same quarter was set at 2.71.
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 11.20. With this latest performance, DKNG shares gained by 10.38% in over the last four-week period, additionally plugging by 51.33% over the last 6 months – not to mention a rise of 141.50% 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 66.63, with the RSI for the last a single of trading hit 69.78, and the three-weeks RSI is set at 64.91 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 38.72, while it was recorded at 43.11 for the last single week of trading, and 32.14 for the last 200 days.
Insight into DraftKings Inc. Fundamentals:
DraftKings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.34 and a Current Ratio set at 1.34.
DKNG Stock EPS
With the latest financial reports released by the company, DraftKings Inc. posted -0.87/share EPS, while the average EPS was predicted by analysts to be reported at -0.89/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.20%. 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.
DraftKings Inc. [DKNG] Institutonal Ownership Details
The top three institutional holders of DKNG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in DKNG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in DKNG stock with ownership which is approximately 5.8325%.
