DraftKings Inc (NASDAQ:DKNG) price on current trading day, rose 2.40% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $39.65.
A look at the stock’s price movement, the level at last check in today’s session was $38.72, moving within a range at $38.68 and $40.22. The beta value (5-Year monthly) was 1.819. Turning to its 52-week performance, $49.57 and $28.69 were the 52-week high and 52-week low respectively. Overall, DKNG moved -0.58% over the past month.
DraftKings Inc’s market cap currently stands at around $34.92 billion, with investors looking forward to this quarter’s earnings report slated for in February.
Analysts have a consensus estimate of 1.47B for the company’s revenue for the quarter, with a low and high estimate of 1.29B and 1.58B respectively. The average forecast suggests up to a 19.63% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 4.85B, representing a 32.38% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that DKNG is a 50% Sell. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
37 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 8 analyst(s) rate the stock as a Hold, 26 recommend DKNG as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 3 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
DKNG’s current price about 2.83% and -2.12% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 51.93, while 7-day volatility ratio is 4.73% and 4.21% in the 30-day chart. Further, DraftKings Inc (DKNG) has a beta value of 1.92, and an average true range (ATR) of 1.54. Analysts have given the company’s stock an average 52-week price target of $48, forecast between a low of $33 and high of $62. Looking at the price targets, the low is 16.77% off recent price level in today’s trading while to achieve the yearly target high, it has to move -56.37%. Nonetheless, investors will most likely welcome a -21.06% jump to $48 which is the analysts’ median price.
If we refocus on DraftKings Inc (NASDAQ:DKNG), historical trading data shows that trading volumes averaged 9.04 over the past 10 days and 8.69 million over the past 3 months. The company’s latest data on shares outstanding shows there are 487.17 million shares.
The 3.64% of DraftKings Inc’s shares are in the hands of company insiders while institutional holders own 76.20% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 22.62 million on 2024-12-31, giving us a short ratio of 2.96. The data shows that as of 2024-12-31 short interest in DraftKings Inc (DKNG) stood at 476.00000000000006 of shares outstanding, with shares short rising to 19.63 million registered in 2024-11-29. Current price change has pushed the stock 6.59% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the DKNG stock continues to rise going into the next quarter.
