DraftKings Inc. (NASDAQ: DKNG) Has Been Falling -58.61% Year-To-Date. Troubles Yet To Come? – Marketing Sentinel
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DraftKings Inc. (NASDAQ: DKNG) Has Been Falling -58.61% Year-To-Date. Troubles Yet To Come?

During the last session, DraftKings Inc. (NASDAQ:DKNG)’s traded shares were 31.78 million. At the end of the trading day, the stock’s price was $11.37, reflecting an intraday gain of 10.71% or $1.1. The 52-week high for the DKNG share is $64.58, that puts it down -467.99 from that peak though still a striking 10.11% gain since the share price plummeted to a 52-week low of $10.22. The company’s market capitalization is $5.10B, and the average intraday trading volume over the past 10 days was 28.84 million shares, and the average trade volume was 26.43 million shares over the past three months.

DraftKings Inc. (DKNG) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.30. DKNG has a Sell rating from 0 analyst(s) out of 30 analysts who have looked at this stock. 13 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 15 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.77.

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DraftKings Inc. (NASDAQ:DKNG) trade information

DraftKings Inc. (DKNG) registered a 10.71% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 10.71% in intraday trading to $11.37 this Thursday, 05/12/22, hitting a weekly high. The stock’s 5-day price performance is -21.26%, and it has moved by -30.71% in 30 days. Based on these gigs, the overall price performance for the year is -72.26%. The short interest in DraftKings Inc. (NASDAQ:DKNG) is 38.41 million shares and it means that shorts have 2.23 day(s) to cover.

The consensus price target of analysts on Wall Street is $27.75, which implies an increase of 59.03% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $13.00 and $60.00 respectively. As a result, DKNG is trading at a discount of -427.7% off the target high and -14.34% off the low.

DraftKings Inc. (DKNG) estimates and forecasts

Statistics show that DraftKings Inc. has underperformed its competitors in share price, compared to the industry in which it operates. DraftKings Inc. (DKNG) shares have gone down -72.32% during the last six months, with a year-to-date growth rate less than the industry average at -0.26% against 6.10. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -13.20% this quarter and then jump 34.50% in the quarter after that. In the rating firms’ projections, revenue will increase 105.70% compared to the previous financial year.

Revenue for the current quarter is expected to be $442.45 million as predicted by 25 analyst(s). Meanwhile, a consensus of 13 analyst(s) estimates revenue growth to $439.82 million by the end of Mar 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $322.22 million and $312.28 million respectively. In this case, analysts expect current quarter sales to grow by 37.30% and then jump by 40.80% in the coming quarter.

While earnings are projected to return 6.10% in 2022, the next five years will return -6.80% per annum.

DKNG Dividends

DraftKings Inc. is due to release its next quarterly earnings between February 24 and February 28. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

DraftKings Inc. (NASDAQ:DKNG)’s Major holders

DraftKings Inc. insiders own 7.46% of total outstanding shares while institutional holders control 62.65%, with the float percentage being 67.70%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 889 institutions own stock in it. As of Sep 29, 2021, the company held over 24.72 million shares (or 6.08% of all shares), a total value of $1.19 billion in shares.

The next largest institutional holding, with 19.75 million shares, is of Price (T.Rowe) Associates Inc’s that is approximately 4.86% of outstanding shares. At the market price on Sep 29, 2021, these shares were valued at $951.23 million.

Also, the Mutual Funds coming in first place with the largest holdings of DraftKings Inc. (DKNG) shares are ARK ETF Tr-ARK Innovation ETF and Vanguard Total Stock Market Index Fund. Data provided on Oct 30, 2021 indicates that ARK ETF Tr-ARK Innovation ETF owns about 10.86 million shares. This amounts to just over 2.67 percent of the company’s overall shares, with a $506.1 million market value. The same data shows that the other fund manager holds slightly less at 7.96 million, or about 1.96% of the stock, which is worth about $383.58 million.

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