DraftKings Inc. [DKNG] stock is trading at $42.33, up 2.05%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The DKNG shares have gain 3.88% over the last week, with a monthly amount glided 6.06%, and seem to be holding up well over a long-time horizon.
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On 15, February 2024, DraftKings Reports Fourth Quarter Revenue of $1,231 Million; Raises 2024 Revenue Guidance Midpoint to $4.775 Billion and 2024 Adjusted EBITDA Guidance Midpoint to $460 Million. In a post published today on Yahoo Finance, DraftKings Inc. (Nasdaq: DKNG) (“DraftKings” or the “Company”) today announced its fourth quarter and fiscal year 2023 financial results. The Company also posted a letter to shareholders and an earnings presentation on the Investor Relations section of its website at investors.draftkings.com.
From an analyst’s perspective:
DraftKings Inc. [NASDAQ: DKNG] stock has seen the most recent analyst activity on February 28, 2024, when Morgan Stanley reiterated its Overweight rating and also boosted its price target to $49 from $40. Previously, Barclays upgraded its rating to Overweight on February 23, 2024, and elevated its price target to $50. On February 20, 2024, Oppenheimer reiterated its Outperform rating and revised its price target to $60 on the stock. Needham reiterated its Buy rating and increased its price target to $54 on February 20, 2024. Piper Sandler reiterated its recommendation of a Overweight and raised its price target to $50 on February 13, 2024. Oppenheimer reiterated a Outperform rating for this stock on February 13, 2024, and upped its price target to $55. In a note dated January 19, 2024, Stifel upgraded an Buy rating on this stock and boosted its target price from $40 to $45.
DraftKings Inc. [DKNG] stock has fluctuated between $17.02 and $45.62 over the past year. Currently, Wall Street analysts expect the stock to reach $41 within the next 12 months. DraftKings Inc. [NASDAQ: DKNG] shares were valued at $42.33 at the most recent close of the market. An investor can expect a potential drop of -3.14% based on the average DKNG price forecast.
Analyzing the DKNG fundamentals
DraftKings Inc. [NASDAQ:DKNG] reported sales of 3.67B for the trailing twelve months, which represents a growth of 43.94%. Gross Profit Margin for this corporation currently stands at 0.37% with Operating Profit Margin at -0.21%, Pretax Profit Margin comes in at -0.22%, and Net Profit Margin reading is -0.22%. To continue investigating profitability, this company’s Return on Assets is posted at -0.2, Equity is -0.87 and Total Capital is -0.32. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of1.51.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 41.40 points at the first support level, and at 40.46 for the second support level. However, for the 1st resistance point, the stock is sitting at 42.94, and for the 2nd resistance point, it is at 43.54.
DraftKings Inc. [DKNG] reported earnings per share of -$0.1 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.08/share, meaning a difference of -$0.18 and a surprise factor of -225.00%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$0.61 per share as compared to estimates of -$0.69 per share, a difference of $0.08 representing a surprise of 11.60%.
Ratios To Look Out For
For context, DraftKings Inc.’s Current Ratio is 1.34. Also, the Quick Ratio is 1.34, while the Cash Ratio stands at 0.83. Considering the valuation of this stock, the price to sales ratio is 5.47, the price to book ratio is 23.81.
Transactions by insiders
We now turn our attention to insider trading, which in the past 3 months has resulted in 1 insider buyings of 1,961 shares and 1 insider sellings of 858 shares. Recent insider trading involved Robins Jason,, that happened on Feb 21 when 0.2 million shares were sold. Chief Legal Officer, Dodge R Stanton completed a deal on Feb 08 to sell 0.69 million shares. Meanwhile, Robins Jason sold 0.45 million shares on Feb 08.
