During the last session, DraftKings Inc. (NASDAQ:DKNG)’s traded shares were 16.46 million, with the beta value of the company hitting 1.86. At the end of the trading day, the stock’s price was $45.37, reflecting an intraday gain of 1.36% or $0.61. The 52-week high for the DKNG share is $49.57, that puts it down -9.26 from that peak though still a striking 61.6% gain since the share price plummeted to a 52-week low of $17.42. The company’s market capitalization is $21.49B, and the average intraday trading volume over the past 10 days was 12.85 million shares, and the average trade volume was 12.20 million shares over the past three months.
DraftKings Inc. (NASDAQ:DKNG) trade information
DraftKings Inc. (DKNG) registered a 1.36% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.36% in intraday trading to $45.37, hitting a weekly high. The stock’s 5-day price performance is 0.04%, and it has moved by 6.45% in 30 days. Based on these gigs, the overall price performance for the year is 138.29%. The short interest in DraftKings Inc. (NASDAQ:DKNG) is 17.48 million shares and it means that shorts have 1.47 day(s) to cover.
DraftKings Inc. (DKNG) estimates and forecasts
Statistics show that DraftKings Inc. has outperformed its competitors in share price, compared to the industry in which it operates. DraftKings Inc. (DKNG) shares have gone up 62.79% during the last six months, with a year-to-date growth rate more than the industry average at 86.13% against 10.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 67.80% this quarter and then jump 123.50% in the quarter after that. In the rating firms’ projections, revenue will increase 31.10% compared to the previous financial year.
Revenue for the current quarter is expected to be $1.11 billion as predicted by 24 analyst(s). Meanwhile, a consensus of 24 analyst(s) estimates revenue growth to $1.09 billion by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $769.65 million and $759.55 million respectively. In this case, analysts expect current quarter sales to grow by 44.90% and then jump by 44.00% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -22.37%. While earnings are projected to return 89.52% in 2024.
DKNG Dividends
DraftKings Inc. is due to release its next quarterly earnings between May 02 and May 06. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
DraftKings Inc. (NASDAQ:DKNG)’s Major holders
DraftKings Inc. insiders own 2.89% of total outstanding shares while institutional holders control 69.52%, with the float percentage being 71.59%. Vanguard Group Inc is the largest shareholder of the company, while 917 institutions own stock in it. As of Jun 29, 2023, the company held over 36.93 million shares (or 7.96% of all shares), a total value of $981.2 million in shares.
The next largest institutional holding, with 17.78 million shares, is of Blackrock Inc.’s that is approximately 3.83% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $472.4 million.
Also, the Mutual Funds coming in first place with the largest holdings of DraftKings Inc. (DKNG) shares are Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 12.3 million shares. This amounts to just over 2.65 percent of the company’s overall shares, with a $326.69 million market value. The same data shows that the other fund manager holds slightly less at 10.14 million, or about 2.18% of the stock, which is worth about $269.29 million.
