DraftKings Inc. [NASDAQ: DKNG] gained 4.16% on the last trading session, reaching $43.52 price per share at the time. The company report on March 18, 2024 at 4:15 PM that DraftKings Announces Leadership Changes to Increase Focus on Operational Efficiencies.
Jason Park to Become Chief Transformation Officer, Alan Ellingson to be Elevated to Chief Financial Officer.
If compared to the average trading volume of 11.66M shares, DKNG reached a trading volume of 11989642 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 $50.60 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 1.58. 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 1.64, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 5.62. The Price to Book ratio for the last quarter was 24.48, with the Price to Cash per share for the same quarter was set at 2.71.
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 4.57. With this latest performance, DKNG shares dropped by -2.11% in over the last four-week period, additionally plugging by 40.21% over the last 6 months – not to mention a rise of 135.12% 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 58.14, with the RSI for the last a single of trading hit 59.99, and the three-weeks RSI is set at 57.89 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 40.24, while it was recorded at 42.40 for the last single week of trading, and 33.06 for the last 200 days.
DraftKings Inc. [DKNG]: A deeper dive into fundamental analysis
DraftKings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.34 and a Current Ratio set at 1.34.
DraftKings Inc. [DKNG]: An earnings per share (EPS) analysis
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.
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 8.2815%. 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%.
