Morgan Stanley slashes price target on DraftKings Inc. [DKNG] – find out why.

DraftKings Inc. [NASDAQ: DKNG] closed the trading session at $47.20. The company report on March 21, 2024 at 3:31 PM that DraftKings and Kindbridge Behavioral Health Expand Program That Provides Treatment Resources for Individuals Experiencing Potential Indications of Problem Gaming.

All 25 states where DraftKings operates online gaming now include program benefits for self-excluded players.

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The stocks have a year to date performance of 33.90 percent and weekly performance of 12.97 percent. The stock has been moved at 64.40 percent over the last six months. The stock has performed 15.57 percent around the most recent 30 days and changed 37.65 percent over the most recent 3-months.

If compared to the average trading volume of 11.84M shares, DKNG reached to a volume of 9575671 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 1.75, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 6.10. The Price to Book ratio for the last quarter was 26.55, with the Price to Cash per share for the same quarter was set at 2.71.

DKNG stock trade performance evaluation

DraftKings Inc. [DKNG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.97. With this latest performance, DKNG shares gained by 15.57% in over the last four-week period, additionally plugging by 64.40% over the last 6 months – not to mention a rise of 168.03% 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 67.51, with the RSI for the last a single of trading hit 71.48, and the three-weeks RSI is set at 65.19 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 41.26, while it was recorded at 45.74 for the last single week of trading, and 33.48 for the last 200 days.

DraftKings Inc. [DKNG]: An insightful look at the core 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.

Earnings per share (EPS) analysis for DraftKings Inc. [DKNG] stock

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]: Institutional Ownership

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%.