DraftKings Inc. [NASDAQ: DKNG] loss -0.24% on the last trading session, reaching $36.84 price per share at the time.
If compared to the average trading volume of 10.03M shares, DKNG reached a trading volume of 8260089 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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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 $52.11 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 1.51. 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.
Oppenheimer have made an estimate for DraftKings Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 01, 2024. While these analysts kept the previous recommendation, Needham raised their target price from $58 to $60. The new note on the price target was released on May 06, 2024, representing the official price target for DraftKings Inc. stock. Previously, the target price had yet another raise to $60, while Goldman analysts kept a Buy rating on DKNG stock. On March 27, 2024, analysts increased their price target for DKNG shares from 54 to 58.
The Average True Range (ATR) for DraftKings Inc. is set at 1.50, with the Price to Sales ratio for DKNG stock in the period of the last 12 months amounting to 4.39. The Price to Book ratio for the last quarter was 21.11, with the Price to Cash per share for the same quarter was set at 2.49.
Trading performance analysis for DKNG stock
DraftKings Inc. [DKNG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.69. With this latest performance, DKNG shares dropped by -14.33% in over the last four-week period, additionally sinking by -2.07% over the last 6 months – not to mention a rise of 20.08% 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 43.32, with the RSI for the last a single of trading hit 41.74, and the three-weeks RSI is set at 44.07 for DraftKings Inc. [DKNG]. The present Moving Average for the last 50 days of trading for this stock 39.28, while it was recorded at 37.72 for the last single week of trading, and 38.56 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.
An analysis of Institutional ownership at DraftKings Inc. [DKNG]
The top three institutional holders of DKNG stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.5034%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $178.43 billion in DKNG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $135.36 billion in DKNG stock with ownership which is approximately 5.1238%.
