DraftKings Inc. (NASDAQ:DKNG)’s traded shares stood at 8.64 million during the last session, with the company’s beta value hitting 1.80. At the close of trading, the stock’s price was $18.51, to imply an increase of 2.89% or $0.52 in intraday trading. The DKNG share’s 52-week high remains $21.62, putting it -16.8% down since that peak but still an impressive 47.22% since price per share fell to its 52-week low of $9.77. The company has a valuation of $8.45B, with an average of 10.9 million shares in intraday trading volume over the past 10 days and average of 13.75 million shares over the past 3 months.
Analysts have given a consensus recommendation of an Overweight for DraftKings Inc. (DKNG), translating to a mean rating of 2.30. Of 32 analyst(s) looking at the stock, 3 analyst(s) give DKNG a Sell rating. 1 of those analysts rate the stock as Overweight while 10 advise Hold as 18 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.59.
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DraftKings Inc. (NASDAQ:DKNG) trade information
After registering a 2.89% upside in the last session, DraftKings Inc. (DKNG) has traded red over the past five days. The stock hit a weekly high of 19.14 this Thursday, 03/16/23, jumping 2.89% in its intraday price action. The 5-day price performance for the stock is -1.23%, and 11.51% over 30 days. With these gigs, the year-to-date price performance is 62.51%. Short interest in DraftKings Inc. (NASDAQ:DKNG) saw shorts transact 33.68 million shares and set a 3.01 days time to cover.
Analysts on Wall Street suggest a consensus price target of $23.98, implying an increase of 22.81% to the stock’s current value. The extremes give us $13.00 and $38.00 for target low and target high price respectively. As such, DKNG has been trading -105.29% off suggested target high and 29.77% from its likely low.
DraftKings Inc. (DKNG) estimates and forecasts
Looking at statistics comparing DraftKings Inc. share performance against respective industry, we note that the company has outperformed competitors. DraftKings Inc. (DKNG) shares are 0.60% up over the last 6 months, with its year-to-date growth rate higher than industry average at 34.49% against 10.30%. Revenue is forecast to grow 26.30% this quarter before jumping 29.80% for the next one. The rating firms project that company’s revenue will grow 68.50% compared to the previous financial year.
Revenue forecast for the current quarter as set by 26 analysts is $797.17 million. Meanwhile, for the quarter ending Mar 2023, a total of 17 analyst(s) estimate revenue growth to $652.87 million.Earnings reports from the last fiscal year show that sales brought in $473.32 million and $417.2 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 68.40% before jumping 56.50% in the following quarter.
DKNG Dividends
DraftKings Inc. has its next earnings report out between February 16 and February 20. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. DraftKings Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
DraftKings Inc. (NASDAQ:DKNG)’s Major holders
DraftKings Inc. insiders hold 5.09% of total outstanding shares, with institutional holders owning 58.03% of the shares at 61.14% float percentage. In total, 58.03% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Sep 29, 2022, the company held over 34.63 million shares (or 7.72% of shares), all amounting to roughly $524.32 million.
The next major institution holding the largest number of shares is ARK Investment Management, LLC with 25.03 million shares, or about 5.58% of shares outstanding. As of the market price on Dec 30, 2022, these shares were worth $285.12 million.
We also have ARK ETF Tr-ARK Innovation ETF and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the DraftKings Inc. (DKNG) shares. Going by data provided on Dec 30, 2022, ARK ETF Tr-ARK Innovation ETF holds roughly 16.52 million shares. This is just over 3.68% of the total shares, with a market valuation of $188.14 million. Data from the same date shows that the other fund manager holds a little less at 11.38 million, or 2.53% of the shares, all valued at about 172.22 million.
