At the time of writing, DraftKings Inc. [DKNG] stock is trading at $36.11, up 2.85%. 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 4.67% over the last week, with a monthly amount glided 18.24%, 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 September 04, 2024, when UBS reiterated its Buy rating and also boosted its price target to $58 from $56. Previously, Susquehanna reaffirmed its Positive rating on September 04, 2024, and elevated its price target to $48. On July 01, 2024, Oppenheimer reiterated its Outperform rating and revised its price target to $58 on the stock. Needham reiterated its Buy rating and increased its price target to $60 on May 06, 2024. Goldman initiated its recommendation with a Buy and recommended $60 as its price target on April 16, 2024. Needham reiterated a Buy rating for this stock on March 27, 2024, and upped its price target to $58. In a note dated March 26, 2024, Mizuho initiated an Buy rating and provided a target price of $58 on this stock.
For the past year, the stock price of DraftKings Inc. fluctuated between $25.73 and $49.57. Currently, Wall Street analysts expect the stock to reach $47.03 within the next 12 months. DraftKings Inc. [NASDAQ: DKNG] shares were valued at $36.11 at the most recent close of the market. An investor can expect a potential return of 30.24% based on the average DKNG price forecast.
Analyzing the DKNG fundamentals
According to DraftKings Inc. [NASDAQ:DKNG], the company’s sales were 4.30B for trailing twelve months, which represents an 26.23% jump. Gross Profit Margin for this corporation currently stands at 0.39% with Operating Profit Margin at -0.11%, Pretax Profit Margin comes in at -0.11%, and Net Profit Margin reading is -0.09%. To continue investigating profitability, this company’s Return on Assets is posted at -0.1, Equity is -0.43 and Total Capital is -0.17. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.98.
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 35.36 points at the first support level, and at 34.61 for the second support level. However, for the 1st resistance point, the stock is sitting at 36.83, and for the 2nd resistance point, it is at 37.55.
Ratios To Look Out For
It is important to note that DraftKings Inc. [NASDAQ:DKNG] has a current ratio of 1.11. As well, the Quick Ratio is 1.11, while the Cash Ratio is 0.6. Considering the valuation of this stock, the price to sales ratio is 4.08, the price to book ratio is 13.50.
Transactions by insiders
Recent insider trading involved Liberman Paul, that happened on Aug 26 ’24 when 88441.0 shares were sold. Officer, Liberman Paul completed a deal on Aug 26 ’24 to buy 88441.0 shares. Meanwhile, Robins Jason sold 0.2 million shares on Aug 21 ’24.
