In the latest trading session, 1.6 million DraftKings Inc. (NASDAQ:DKNG) shares changed hands as the company’s beta touched 1.81. With the company’s most recent per share price at $30.56 changed hands at -$0.69 or -2.21% at last look, the market valuation stands at $14.38B. DKNG’s current price is a discount, trading about -12.86% off its 52-week high of $34.49. The share price had its 52-week low at $10.69, which suggests the last value was 65.02% up since then. When we look at DraftKings Inc.’s average trading volume, we note the 10-day average is 9.27 million shares, with the 3-month average coming to 11.39 million.

Analysts gave the DraftKings Inc. (DKNG) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.10. If we narrow down to specifics, the data shows that 0 out of 32 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 11 recommended DKNG as a Hold, 21 felt it is a Buy and 0 rated the stock as Underweight. DraftKings Inc.’s EPS for the current quarter is expected to be -$0.7.

DraftKings Inc. (NASDAQ:DKNG) trade information

Instantly DKNG was in red as seen in intraday trades today. With action -0.43%, the performance over the past five days has been red. The drop to weekly highs of 31.67 on Monday, 09/18/23 subtracted -2.21% to the stock’s daily price. The company’s shares are showing year-to-date upside of 168.29%, with the 5-day performance at -0.43% in the red. However, in the 30-day time frame, DraftKings Inc. (NASDAQ:DKNG) is 15.01% up. Looking at the short shares, we see there were 24.27 million shares sold at short interest cover period of 1.64 days.

The consensus price target for the stock as assigned by Wall Street analysts is $35.71, meaning bulls need an upside of 14.42% from its recent market value. According to analyst projections, DKNG’s forecast low is $22.50 with $44.00 as the target high. To hit the forecast high, the stock’s price needs a -43.98% plunge from its current level, while the stock would need to tank 26.37% for it to hit the projected low.

DraftKings Inc. (DKNG) estimates and forecasts

Data shows that the DraftKings Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 77.35% over the past 6 months, a 49.05% in annual growth rate that is considerably higher than the industry average of 2.80%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for DraftKings Inc. will rise 30.00%, while the growth in revenue is estimated to hit 113.20% for the next quarter. Year-over-year growth is forecast to reach 57.60% up from the last financial year.

Consensus estimates given by 23 financial analysts project the company’s revenue in the current quarter to hit an average of $682.25 million. 23 analysts are of the opinion that DraftKings Inc.’s revenue for the quarter ending Dec 2023 will be $1.2 billion. The company’s revenue for the corresponding quarters a year ago was $437.23 million and $855.13 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 56.00%. The estimates for the next quarter sales put growth at 40.20%.

The 2023 estimates are for DraftKings Inc. earnings to increase by 16.60%, but the outlook for the next 5-year period is at 38.10% per year.

DKNG Dividends

DraftKings Inc. is expected to release its next quarterly earnings report in October.

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

If we look at who the major shareholders are, we find that insiders hold 5.05% of DraftKings Inc. shares while 56.16% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 59.15%. There are 56.16% institutions holding the DraftKings Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 7.96% of the shares, roughly 36.93 million DKNG shares worth $981.2 million.

ARK Investment Management, LLC holds the second largest percentage of outstanding shares, with 3.89% or 18.06 million shares worth $479.87 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and ARK ETF Tr-ARK Innovation ETF. With 12.3 million shares estimated at $326.69 million under it, the former controlled 2.65% of total outstanding shares. On the other hand, ARK ETF Tr-ARK Innovation ETF held about 2.45% of the shares, roughly 11.38 million shares worth around $337.49 million.