Future Outlook And Stock Price Performance For DraftKings Inc. (NASDAQ: DKNG) – Marketing Sentinel
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Future Outlook And Stock Price Performance For DraftKings Inc. (NASDAQ: DKNG)

In the last trading session, 19.95 million shares of the DraftKings Inc. (NASDAQ:DKNG) were traded. Most recently the company’s share price was $12.17, and it changed around $0.75 or 6.57% from the last close, which brings the market valuation of the company to $5.00B. DKNG currently trades at a discount to its 52-week high of $64.58, offering almost -430.65% off that amount. The share price’s 52-week low was $9.77, which indicates that the current value has risen by an impressive 19.72% since then. We note from DraftKings Inc.’s average daily trading volume that its 3-month average coming to 22.99 million.

DraftKings Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.30. If we narrow it down even further, the data shows that 0 out of 31 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 13 recommended DKNG as a Hold, whereas 16 deemed it a Buy, and 0 rated it as Underweight. DraftKings Inc. is expected to report earnings per share of -$0.8 for the current quarter.

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DraftKings Inc. (NASDAQ:DKNG) trade information

Instantly DKNG has showed a green trend with a performance of 6.57% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 12.55 on Tuesday, 06/21/22 increased the stock’s daily price by 3.03%. The company’s shares are currently down -55.70% year-to-date, but still up 10.34% over the last five days. On the other hand, DraftKings Inc. (NASDAQ:DKNG) is -13.99% up in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $27.72, which translates to bulls needing to increase their stock price by 56.1% from its current value. Analyst projections state that DKNG is forecast to be at a low of $13.00 and a high of $60.00. In order for the stock price to hit the forecast high, the stock would need to plunge -393.02% from its current level, while the stock would need to crash -6.82% from its current level to reach the projected low.

DraftKings Inc. (DKNG) estimates and forecasts

DraftKings Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -57.55 percent over the past six months and at a 4.76% annual growth rate that is well below the industry average of 9.40%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will loss -5.30% in revenue this quarter, and will report an increase of 14.10% in the next quarter. The year-over-year growth rate is expected to be 57.70%, up from the previous year.

Consensus estimates provided by 24 financial analysts predict the company will bring in an average of $425.42 million in revenue for the current quarter. 23 analysts expect DraftKings Inc. to make $420.59 million in revenue for the quarter ending Sep 2022. The company’s sales for the same quarters a year ago were $297.61 million and $219.83 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 42.90%. Forecasts for the next quarter put sales growth at 91.30%.

DraftKings Inc. earnings are expected to increase by 6.10% in 2022, but the outlook is negative -6.80% per year for the next five years.

DKNG Dividends

DraftKings Inc.’s next quarterly earnings report is expected to be released around February 24 and February 28.

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

ARK Investment Management, LLC, with 5.73% or 23.42 million shares worth $455.92 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.

ARK ETF Tr-ARK Innovation ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Feb 27, 2022. The former held 14.47 million shares worth $342.76 million, making up 3.54% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 8.66 million shares worth around $237.99 million, which represents about 2.12% of the total shares outstanding.

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