In today’s recent session, 3.81 million shares of the DraftKings Inc. (NASDAQ:DKNG) have been traded, and its beta is 1.85. Most recently the company’s share price was $44.59, and it changed around -$0.82 or -1.81% from the last close, which brings the market valuation of the company to $21.12B. DKNG at last check was trading at a discount to its 52-week high of $49.57, offering almost -11.17% off that amount. The share price’s 52-week low was $17.42, which indicates that the recent value has risen by an impressive 60.93% since then. We note from DraftKings Inc.’s average daily trading volume that its 10-day average is 13.05 million shares, with the 3-month average coming to 12.25 million.
DraftKings Inc. (NASDAQ:DKNG) trade information
Instantly DKNG has been showing red trend so far today with a performance of -1.81% on intraday trading today. The performance over the last five days has remained in the red territory. The company’s shares are currently up 26.50% year-to-date, but still down -5.53% over the last five days. On the other hand, DraftKings Inc. (NASDAQ:DKNG) is 2.93% up in the 30-day period. We can see from the shorts that 17.48 million shares have been sold at a short interest cover period of 1.47 day(s).
The consensus price target as assigned by Wall Street analysts is $44.67, which translates to bulls needing to increase their stock price by 0.18% from its current value. Analyst projections state that DKNG is forecast to be at a low of $15 and a high of $105.
DraftKings Inc. (DKNG) estimates and forecasts
DraftKings Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 54.13 percent over the past six months and at a 86.13% annual growth rate that is well above the industry average of 9.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 67.80% in revenue this quarter, and will report an increase of 123.50% in the next quarter. The year-over-year growth rate is expected to be 31.10%, up from the previous year.
Consensus estimates provided by 24 financial analysts predict the company will bring in an average of $1.11 billion in revenue for the current quarter. 24 analysts expect DraftKings Inc. to make $1.09 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $769.65 million and $759.55 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 44.90%. Forecasts for the next quarter put sales growth at 44.00%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -22.37%.
DKNG Dividends
DraftKings Inc.’s next quarterly earnings report is expected to be released around May 02 and May 06.
DraftKings Inc. (NASDAQ:DKNG)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.89% of DraftKings Inc. shares, and 69.52% of them are in the hands of institutional investors. The stock currently has a share float of 71.59%. DraftKings Inc. stock is held by 917 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 7.96% of the shares, which is about 36.93 million shares worth $981.2 million.
Blackrock Inc., with 3.83% or 17.78 million shares worth $472.4 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 12.3 million shares worth $326.69 million, making up 2.65% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 10.14 million shares worth around $269.29 million, which represents about 2.18% of the total shares outstanding.
