DraftKings Inc. [DKNG] stock prices are up 2.79% to $44.94 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The DKNG shares have lost -1.32% over the last week, with a monthly amount glided 7.56%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
DraftKings Inc. [NASDAQ: DKNG] stock has seen the most recent analyst activity on April 16, 2024, when Goldman initiated its Buy rating and assigned the stock a price target of $60. Previously, Needham reaffirmed its Buy rating on March 27, 2024, and elevated its price target to $58. On March 26, 2024, Mizuho initiated with a Buy rating and assigned a price target of $58 on the stock. Susquehanna reiterated its Positive rating and increased its price target to $54 on March 25, 2024. Morgan Stanley reiterated its recommendation of a Overweight and raised its price target to $49 on February 28, 2024. Barclays upgraded its rating to Overweight for this stock on February 23, 2024, and upped its price target to $50. In a note dated February 20, 2024, Oppenheimer reiterated an Outperform rating on this stock and boosted its target price from $55 to $60.
The stock price of DraftKings Inc. [DKNG] has been fluctuating between $19.10 and $49.57 over the past year. Currently, Wall Street analysts expect the stock to reach $44.7 within the next 12 months. DraftKings Inc. [NASDAQ: DKNG] shares were valued at $44.94 at the most recent close of the market. An investor can expect a potential drop of -0.53% based on the average DKNG price forecast.
Analyzing the DKNG fundamentals
The DraftKings Inc. [NASDAQ:DKNG] reported sales of 3.67B for trailing twelve months, representing a surge 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 43.89 points at the first support level, and at 42.85 for the second support level. However, for the 1st resistance point, the stock is sitting at 45.73, and for the 2nd resistance point, it is at 46.52.
Ratios To Look Out For
It’s worth pointing out that DraftKings Inc. [NASDAQ:DKNG]’s Current Ratio is 1.34. On the other hand, the Quick Ratio is 1.34, and 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 25.28.
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.
