At the time of writing, DraftKings Inc. [DKNG] stock is trading at $41.10, up 5.01%. An important factor to consider is whether the stock is rising or falling in short-term value. The DKNG shares have gain 7.96% over the last week, with a monthly amount glided 17.13%, 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 10, 2024, when Exane BNP Paribas upgraded its rating to a Neutral but kept the price target unchanged to $35 for it. Previously, UBS reaffirmed its Buy rating on September 04, 2024, and elevated its price target to $58. On September 04, 2024, Susquehanna reiterated its Positive rating and revised its price target to $48 on the stock. Oppenheimer reiterated its Outperform rating and decreased its price target to $58 on July 01, 2024. Needham reiterated its recommendation of a Buy and raised its price target to $60 on May 06, 2024. Goldman started tracking with a Buy rating for this stock on April 16, 2024, and assigned it a price target of $60. In a note dated March 27, 2024, Needham reiterated an Buy rating on this stock and boosted its target price from $54 to $58.
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 $46.71 within the next 12 months. DraftKings Inc. [NASDAQ: DKNG] shares were valued at $41.10 at the most recent close of the market. An investor can expect a potential return of 13.65% 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.98.
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 40.18 points at the first support level, and at 39.26 for the second support level. However, for the 1st resistance point, the stock is sitting at 42.00, and for the 2nd resistance point, it is at 42.90.
Ratios To Look Out For
It is important to note that DraftKings Inc. [NASDAQ:DKNG] has a current ratio of 1.11. On the other hand, the Quick Ratio is 1.11, and the Cash Ratio is 0.6. Considering the valuation of this stock, the price to sales ratio is 4.64, the price to book ratio is 15.37.
Transactions by insiders
Recent insider trading involved Liberman Paul, Officer, that happened on Sep 25 ’24 when 0.64 million shares were purchased., Liberman Paul completed a deal on Aug 26 ’24 to sell 88441.0 shares. Meanwhile, Officer Liberman Paul bought 88441.0 shares on Aug 26 ’24.
