DraftKings Inc. [DKNG] stock is trading at $41.99, down -2.35%. 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 7.72% over the last week, with a monthly amount drifted -3.20%, and not 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 May 06, 2024, when Needham reiterated its Buy rating and also boosted its price target to $60 from $58. Previously, Goldman started tracking the stock with Buy rating on April 16, 2024, and set its price target to $60. On March 27, 2024, Needham reiterated its Buy rating and revised its price target to $58 on the stock. Mizuho started tracking the stock assigning a Buy rating and suggested a price target of $58 on March 26, 2024. Susquehanna reiterated its recommendation of a Positive and raised its price target to $54 on March 25, 2024. Morgan Stanley reiterated a Overweight rating for this stock on February 28, 2024, and upped its price target to $49. In a note dated February 23, 2024, Barclays upgraded an Overweight rating on this stock and boosted its target price from $41 to $50.
DraftKings Inc. [DKNG] stock has fluctuated between $24.33 and $49.57 over the past year. Currently, Wall Street analysts expect the stock to reach $46.72 within the next 12 months. DraftKings Inc. [NASDAQ: DKNG] shares were valued at $41.99 at the most recent close of the market. An investor can expect a potential return of 11.26% based on the average DKNG price forecast.
Analyzing the DKNG fundamentals
DraftKings Inc. [NASDAQ:DKNG] reported sales of 4.07B for the trailing twelve months, which represents a growth of 52.67%. Gross Profit Margin for this corporation currently stands at 0.39% with Operating Profit Margin at -0.13%, Pretax Profit Margin comes in at -0.13%, and Net Profit Margin reading is -0.13%. To continue investigating profitability, this company’s Return on Assets is posted at -0.14, Equity is -0.63 and Total Capital is -0.22. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.52.
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 41.09 points at the first support level, and at 40.20 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 43.90.
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 0.84. Considering the valuation of this stock, the price to sales ratio is 5.00, the price to book ratio is 24.06.
Transactions by insiders
Recent insider trading involved SLOAN HARRY, Director, that happened on Jun 14 ’24 when 0.25 million shares were sold. Director, Moore Jocelyn completed a deal on Jun 06 ’24 to sell 1403.0 shares. Meanwhile, Director Moore Jocelyn sold 1450.0 shares on Jun 05 ’24.
