DraftKings Inc. [DKNG] stock is trading at $44.98, down -1.23%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The DKNG shares have gain 0.49% over the last week, with a monthly amount glided 8.07%, and seem to be holding up well over a long-time horizon.
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On 21, March 2024, DraftKings and Kindbridge Behavioral Health Expand Program That Provides Treatment Resources for Individuals Experiencing Potential Indications of Problem Gaming. In a post published today on Yahoo Finance, All 25 states where DraftKings operates online gaming now include program benefits for self-excluded players.
From an analyst’s perspective:
DraftKings Inc. [NASDAQ: DKNG] stock has seen the most recent analyst activity on March 27, 2024, when Needham reiterated its Buy rating and also boosted its price target to $58 from $54. Previously, Mizuho started tracking the stock with Buy rating on March 26, 2024, and set its price target to $58. On March 25, 2024, Susquehanna reiterated its Positive rating and revised its price target to $54 on the stock. Morgan Stanley reiterated its Overweight rating and increased its price target to $49 on February 28, 2024. Barclays upgraded its rating to a Overweight and raised its price target to $50 on February 23, 2024. Oppenheimer reiterated a Outperform rating for this stock on February 20, 2024, and upped its price target to $60. In a note dated February 20, 2024, Needham reiterated an Buy rating on this stock and boosted its target price from $50 to $54.
DraftKings Inc. [DKNG] stock has fluctuated between $17.88 and $49.57 over the past year. Currently, Wall Street analysts expect the stock to reach $45.09 within the next 12 months. DraftKings Inc. [NASDAQ: DKNG] shares were valued at $44.98 at the most recent close of the market. An investor can expect a potential return of 0.24% 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.51.
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 44.33 points at the first support level, and at 43.67 for the second support level. However, for the 1st resistance point, the stock is sitting at 45.78, and for the 2nd resistance point, it is at 46.58.
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. As well, the Quick Ratio is 1.34, while the Cash Ratio is 0.83. Considering the valuation of this stock, the price to sales ratio is 5.81, the price to book ratio is 25.30.
Transactions by insiders
Recent insider trading involved Robins Jason, that happened on Feb 21 ’24 when 0.2 million shares were sold. Chief Legal Officer, Dodge R Stanton completed a deal on Feb 08 ’24 to sell 0.69 million shares. Meanwhile, Robins Jason sold 0.45 million shares on Feb 08 ’24.
