DraftKings Inc. (NASDAQ: DKNG)’s Stock Market Position Could Improve In The Coming Months

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In the last trading session, 22.56 million shares of the DraftKings Inc. (NASDAQ:DKNG) were traded. Most recently the company’s share price was $35.04, and it changed around -$1.75 or -4.76% from the last close, which brings the market valuation of the company to $28.37B. DKNG currently trades at a discount to its 52-week high of $74.38, offering almost -112.27% off that amount. The share price’s 52-week low was $35.82, which indicates that the current value has fallen by an impressive -2.23% since then. We note from DraftKings Inc.’s average daily trading volume that its 10-day average is 15.52 million shares, with the 3-month average coming to 13.80 million.

DraftKings Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.00. If we narrow it down even further, the data shows that 1 out of 30 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 11 recommended DKNG as a Hold, whereas 17 deemed it a Buy, and 0 rated it as Underweight. DraftKings Inc. is expected to report earnings per share of -$1.02 for the current quarter.

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Instantly DKNG has showed a red trend with a performance of -4.76% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 39.50 on Tuesday, 11/23/21 increased the stock’s daily price by 11.29%. The company’s shares are currently down -24.74% year-to-date, but still down -10.79% over the last five days. On the other hand, DraftKings Inc. (NASDAQ:DKNG) is -25.16% down in the 30-day period. We can see from the shorts that 24.78 million shares have been sold at a short interest cover period of 1.65 day(s).

The consensus price target as assigned by Wall Street analysts is $64.50, which translates to bulls needing to increase their stock price by 45.67% from its current value. Analyst projections state that DKNG is forecast to be at a low of $34.00 and a high of $105.00. In order for the stock price to hit the forecast high, the stock would need to plunge -199.66% from its current level, while the stock would need to crash 2.97% from its current level to reach the projected low.

DraftKings Inc. (DKNG) estimates and forecasts

Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will loss -4.10% in revenue this quarter, and will report an increase of 10.30% in the next quarter. The year-over-year growth rate is expected to be 108.30%, up from the previous year.

Consensus estimates provided by 20 financial analysts predict the company will bring in an average of $232.46 million in revenue for the current quarter. 20 analysts expect DraftKings Inc. to make $440.06 million in revenue for the quarter ending Dec 2021. Forecasts for the next quarter put sales growth at 36.60%.

DraftKings Inc. earnings are expected to increase by -668.20% in 2021, but the outlook is negative -6.80% per year for the next five years.

DKNG Dividends

DraftKings Inc.’s next quarterly earnings report is expected to be released on May 07.

DraftKings Inc. (NASDAQ:DKNG)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 13.87% of DraftKings Inc. shares, and 54.42% of them are in the hands of institutional investors. The stock currently has a share float of 63.19%. DraftKings Inc. stock is held by 787 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Dec 30, 2020, it held 5.91% of the shares, which is about 23.51 million shares worth $1.09 billion.

Price (T.Rowe) Associates Inc, with 4.87% or 19.39 million shares worth $902.62 million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.

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Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund were the top two Mutual Funds as of Dec 30, 2020. The former held 7.74 million shares worth $360.49 million, making up 1.95% of all outstanding shares. On the other hand, Vanguard Mid-Cap Index Fund held roughly 6.2 million shares worth around $288.47 million, which represents about 1.56% of the total shares outstanding.