DraftKings Inc. [DKNG] Is Still Undervalued at $47.93

DraftKings Inc. [DKNG] stock is down -2.68 while the S&P 500 has fallen -0.19% on Monday, 12/07/20. While at the time of this article, DKNG ATR is sitting at 2.74. This stock’s volatility for the past week remained at 5.28%, while it was 5.65% for the past 30-day period. DKNG has fallen -$1.32 from the previous closing price of $49.25 on volume of 15.65 million shares.

On 7, December 2020, Mashantucket Pequot Tribal Nation, Foxwoods Resorts Casino, and DraftKings Enter Multi-Channel Deal. According to news published on Yahoo Finance, Agreement Offers Access for Online Sports Betting in Connecticut, Along With Daily Fantasy Collaboration.

Analyst Birdseye View:

The most recent analyst activity for DraftKings Inc. [NASDAQ:DKNG] stock was on November 24, 2020, when it was Initiated with a Neutral rating from UBS, which also raised its 12-month price target on the stock to $52. Before that, on December 07, 2020, JP Morgan Recapitulated a Neutral rating and elevated its amount target to $48. On November 20, 2020, Piper Sandler Initiated an Overweight rating and boosted its price target on this stock to $58. On October 12, 2020, Deutsche Bank Initiated a Hold rating and increased its price target to $48. On October 12, 2020, Credit Suisse Initiated an Outperform rating and increased its price target to $76. On October 08, 2020, Cowen Initiated a Market perform rating and boosted its amount on this stock to $55. On October 01, 2020, Needham Initiated a Buy rating and boosted its target amount on this stock to $70. On September 25, 2020, Argus Initiated a Buy rating and amplified its amount target to $65.

In the past 52 weeks of trading, this stock has oscillated between a low of $10.06 and a peak of $64.19. Right now, the middling Wall Street analyst 12-month amount mark is $58.00. At the most recent market close, shares of DraftKings Inc. [NASDAQ:DKNG] were valued at $47.93. According to the average price forecast, investors can expect a potential return of -3.91%.

FUNDAMENTAL ANALYSIS

This company’s Gross Margin is currently 43.10%.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 46.85 points at 1st support level, the second support level is making up to 45.76. But as of 1st resistance point, this stock is sitting at 49.80 and at 51.66 for 2nd resistance point.

DraftKings Inc. [DKNG] reported its earnings at -$0.98 per share in the fiscal quarter closing of 9/29/2020. The Analysts for Wall Street were expecting to report its earnings at -$0.61/share signifying the difference of -0.37 and -60.70% surprise value. Comparing the previous quarter ending of 6/29/2020, the stated earnings were -$0.4 calling estimates for -$0.2/share with the difference of -0.2 depicting the surprise of -100.00%.

Important Ratio’s To Watch

Meanwhile, turning our focus to liquidity, the Current Ratio for DraftKings Inc. [NASDAQ:DKNG] is 5.40.

Insider Stories

The most recent insider trade was by MURRAY STEVEN JOSEPH, Director, and it was the sale of 1.55 million shares on Oct 09. Meckenzie Shalom, the Director, completed a sale of 6.95 million shares on Oct 09. On Oct 09, Nada Hany M, Director, completed a sale of 0.95 million shares.