In the last trading session, 9.72 million DraftKings Inc. (NASDAQ:DKNG) shares changed hands as the company’s beta touched 1.86. With the company’s per share price at $48.68 changed hands at $1.36 or 2.87% during last session, the market valuation stood at $23.06B. DKNG’s last price was a discount, traded about -0.45% off its 52-week high of $48.90. The share price had its 52-week low at $17.33, which suggests the last value was 64.4% up since then. When we look at DraftKings Inc.’s average trading volume, we note the 10-day average is 10.31 million shares, with the 3-month average coming to 11.75 million.
DraftKings Inc. (NASDAQ:DKNG) trade information
Instantly DKNG was in green as seen at the end of in last trading. With action 11.19%, the performance over the past five days has been green. The jump to weekly highs of 49.26 added 2.87% to the stock’s daily price. The company’s shares are showing year-to-date upside of 38.10%, with the 5-day performance at 11.19% in the green. However, in the 30-day time frame, DraftKings Inc. (NASDAQ:DKNG) is 20.64% up. Looking at the short shares, we see there were 16.7 million shares sold at short interest cover period of 1.21 days.
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 77.92% over the past 6 months, a 86.13% in annual growth rate that is considerably higher than the industry average of 13.10%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for DraftKings Inc. will rise 66.70%, while the growth in revenue is estimated to hit 117.60% for the next quarter. Year-over-year growth is forecast to reach 31.00% 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 $1.11 billion. 23 analysts are of the opinion that DraftKings Inc.’s revenue for the quarter ending Jun 2024 will be $1.09 billion. The company’s revenue for the corresponding quarters a year ago was $769.65 million and $759.55 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 44.70%. The estimates for the next quarter sales put growth at 43.80%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -22.37%. The 2024 estimates are for DraftKings Inc. earnings to increase by 91.94%.
DKNG Dividends
DraftKings Inc. is expected to release its next quarterly earnings report between May 02 and May 06.
DraftKings Inc. (NASDAQ:DKNG)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 4.89% of DraftKings Inc. shares while 69.52% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 73.09%. There are 69.52% institutions holding the DraftKings Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Dec 30, 2023, the company held 8.29% of the shares, roughly 39.26 million DKNG shares worth $1.91 billion.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 4.49% or 21.24 million shares worth $1.03 billion as of Dec 30, 2023.
Among Mutual Funds, the top two as of Dec 30, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 13.22 million shares estimated at $643.42 million under it, the former controlled 2.79% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 2.26% of the shares, roughly 10.68 million shares worth around $520.05 million.
