In today’s recent session, 0.77 million shares of the DraftKings Inc. (NASDAQ:DKNG) have been traded, and its beta is 1.79. Most recently the company’s share price was $38.62, and it changed around -$0.33 or -0.85% from the last close, which brings the market valuation of the company to $18.75B. DKNG at last check was trading at a discount to its 52-week high of $49.57, offering almost -28.35% off that amount. The share price’s 52-week low was $25.73, which indicates that the recent value has risen by an impressive 33.38% since then. We note from DraftKings Inc.’s average daily trading volume that its 10-day average is 9.51 million shares, with the 3-month average coming to 9.38 million.
DraftKings Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 1.41. If we narrow it down even further, the data shows that 1 out of 38 analysts rate the stock as a Sell; another 9 rate it as Overweight. Among the rest, 6 recommended DKNG as a Hold, whereas 22 deemed it a Buy, and 0 rated it as Underweight. DraftKings Inc. is expected to report earnings per share of -0.42 for the current quarter.
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DraftKings Inc. (NASDAQ:DKNG) trade information
Instantly DKNG has been showing red trend so far today with a performance of -0.85% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 39.35 on recent trading dayincreased the stock’s daily price by 1.86%. The company’s shares are currently up 9.56% year-to-date, but still up 0.47% over the last five days. On the other hand, DraftKings Inc. (NASDAQ:DKNG) is 12.23% up in the 30-day period. We can see from the shorts that 23.45 million shares have been sold at a short interest cover period of 2.24 day(s).
The consensus price target as assigned by Wall Street analysts is $48, which translates to bulls needing to increase their stock price by 19.54% 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 fallen -11.79 percent over the past six months and at a 82.08% annual growth rate that is well above the industry average of 5.10%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 31.10% in revenue this quarter, and will report an increase of 390.00% in the next quarter. The year-over-year growth rate is expected to be 40.20%, up from the previous year.
Consensus estimates provided by 28 financial analysts predict the company will bring in an average of 1.11B in revenue for the current quarter. 28 analysts expect DraftKings Inc. to make 1.75B in revenue for the current ending quarter. Forecasts for the next quarter put sales growth at 42.50%.
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 on 2024-Oct-31.
DraftKings Inc. (NASDAQ:DKNG)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.42% of DraftKings Inc. shares, and 73.27% of them are in the hands of institutional investors. The stock currently has a share float of 75.08%. DraftKings Inc. stock is held by 1021.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 8.6066% of the shares, which is about 40.82 million shares worth $1.56 billion.
BLACKROCK INC., with 6.5027% or 30.84 million shares worth $1.18 billion as of 2024-06-30, 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 30, 2024. The former held 13.78 shares worth $531.03 million, making up 2.84% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 10.95 shares worth around $422.05 million, which represents about 2.26% of the total shares outstanding.
