In the last trading session, 11.01 million DraftKings Inc. (NASDAQ:DKNG) shares changed hands as the company’s beta touched 1.90. With the company’s per share price at $38.68 changed hands at $0.31 or 0.81% during last session, the market valuation stood at $18.03B. DKNG’s last price was a discount, traded about -0.1% off its 52-week high of $38.72. The share price had its 52-week low at $10.69, which suggests the last value was 72.36% up since then. When we look at DraftKings Inc.’s average trading volume, we note the 10-day average is 17.52 million shares, with the 3-month average coming to 12.29 million.
Analysts gave the DraftKings Inc. (DKNG) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.52. If we narrow down to specifics, the data shows that 0 out of 33 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 8 recommended DKNG as a Hold, 24 felt it is a Buy and 0 rated the stock as Underweight. DraftKings Inc.’s EPS for the current quarter is expected to be $0.14.
DraftKings Inc. (NASDAQ:DKNG) trade information
Instantly DKNG was in green as seen at the end of in last trading. With action 8.71%, the performance over the past five days has been green. The jump to weekly highs of 39.06 on Monday, 11/20/23 added 0.81% to the stock’s daily price. The company’s shares are showing year-to-date upside of 239.60%, with the 5-day performance at 8.71% in the green. However, in the 30-day time frame, DraftKings Inc. (NASDAQ:DKNG) is 42.89% up. Looking at the short shares, we see there were 24.15 million shares sold at short interest cover period of 2.38 days.
The consensus price target for the stock as assigned by Wall Street analysts is $39.83, meaning bulls need an upside of 2.89% from its current market value. According to analyst projections, DKNG’s forecast low is $22.50 with $50.00 as the target high. To hit the forecast high, the stock’s price needs a -29.27% plunge from its current level, while the stock would need to tank 41.83% 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 53.37% over the past 6 months, a 51.27% in annual growth rate that is considerably higher than the industry average of 17.00%. 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 126.40%, while the growth in revenue is estimated to hit 60.90% for the next quarter. Year-over-year growth is forecast to reach 65.50% up from the last financial year.
Consensus estimates given by 24 financial analysts project the company’s revenue in the current quarter to hit an average of $1.27 billion. 14 analysts are of the opinion that DraftKings Inc.’s revenue for the quarter ending Mar 2024 will be $1.03 billion. The company’s revenue for the corresponding quarters a year ago was $855.13 million and $769.65 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 49.10%. The estimates for the next quarter sales put growth at 34.00%.
The 2023 estimates are for DraftKings Inc. earnings to increase by 53.10%.
DraftKings Inc. is expected to release its next quarterly earnings report between February 14 and February 19.
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.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 3.83% or 17.78 million shares worth $472.4 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 Vanguard Small-Cap Index Fund. 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, Vanguard Small-Cap Index Fund held about 2.18% of the shares, roughly 10.14 million shares worth around $269.29 million.