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DraftKings Inc. (NASDAQ:DKNG) Stock Dropped -44.16% Year-To-Date, What Analysts Expect Next?

In last trading session, DraftKings Inc. (NASDAQ:DKNG) saw 10.94 million shares changing hands with its beta currently measuring 1.75. Company’s recent per share price level of $15.34 trading at $0.65 or 4.42% at ring of the bell on the day assigns it a market valuation of $6.82B. That closing price of DKNG’s stock is at a discount of -145.83% from its 52-week high price of $37.71 and is indicating a premium of 36.31% from its 52-week low price of $9.77. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 19.67 million shares which gives us an average trading volume of 21.15 million if we extend that period to 3-months.

For DraftKings Inc. (DKNG), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.30. Splitting up the data highlights that, out of 32 analysts covering the stock, 1 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 13 suggested the stock as a Hold whereas 17 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$1.05 in the current quarter.

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DraftKings Inc. (NASDAQ:DKNG) trade information

Upright in the green during last session for gaining 4.42%, in the last five days DKNG remained trading in the green while hitting it’s week-highest on Friday, 11/18/22 when the stock touched $15.34 price level, adding 3.16% to its value on the day. DraftKings Inc.’s shares saw a change of -44.16% in year-to-date performance and have moved 3.23% in past 5-day. DraftKings Inc. (NASDAQ:DKNG) showed a performance of 8.79% in past 30-days. Number of shares sold short was 38.15 million shares which calculate 1.73 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $20.70 to the stock, which implies a rise of 25.89% to its current value. Analysts have been projecting $12.00 as a low price target for the stock while placing it at a high target of $48.00. It follows that stock’s current price would drop -212.91% in reaching the projected high whereas dropping to the targeted low would mean a gain of 21.77% for stock’s current value.

DraftKings Inc. (DKNG) estimates and forecasts

Statistics highlight that DraftKings Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 8.56% of value to its shares in past 6 months, showing an annual growth rate of 17.72% while that of industry is 2.50. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 22.20% in the current quarter and calculating 37.50% increase in the next quarter. This year revenue growth is estimated to rise 64.70% from the last financial year’s standing.

24 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $433.2 million for the same. And 24 analysts are in estimates of company making revenue of $817.7 million in the next quarter that will end on Dec 2022. Company posted $219.83 million and $473.32 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 97.10% while estimating it to be 72.80% for the next quarter.

In 2022, company’s earnings growth rate is likely to be around 6.10% while estimates for its earnings growth in next 5 years are of -6.80%.

DKNG Dividends

DraftKings Inc. is more likely to be releasing its next quarterly report between February 16 and February 20 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

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

Insiders are in possession of 4.79% of company’s total shares while institution are holding 56.53 percent of that, with stock having share float percentage of 59.37%. Investors also watch the number of corporate investors in a company very closely, which is 56.53% institutions for DraftKings Inc. that are currently holding shares of the company. Vanguard Group, Inc. (The) is the top institutional holder at DKNG for having 32.51 million shares of worth $379.39 million. And as of Jun 29, 2022, it was holding 7.25% of the company’s outstanding shares.

The second largest institutional holder is ARK Investment Management, LLC, which was holding about 24.71 million shares on Sep 29, 2022. The number of shares represents firm’s hold over 5.51% of outstanding shares, having a total worth of $374.07 million.

On the other hand, ARK ETF Tr-ARK Innovation ETF and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Sep 29, 2022, the former fund manager was holding 15.96 million shares of worth $241.57 million or 3.56% of the total outstanding shares. The later fund manager was in possession of 10.94 million shares on Jun 29, 2022, making its stake of worth around $127.69 million in the company or a holder of 2.44% of company’s stock.

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