DKNG Stock – Can The Stock Still Lose Despite An -3.67% YTD Loss? – Marketing Sentinel
DraftKings Inc. (NASDAQ:DKNG)’s traded shares stood at 4.88 million during the last session. At the last check today, the stock’s price was $44.61, to imply a decrease of -0.54% or -$0.24 in intraday trading. The DKNG share’s 52-week high remains $74.38, putting it -66.73% down since that peak but still an impressive 31.61% since price per share fell to its 52-week low of $30.51. The company has a valuation of $17.68B, with an average of 8.39 million shares in intraday trading volume over the past 10 days and average of 16.05 million shares over the past 3 months.
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Analysts have given a consensus recommendation of an Overweight for DraftKings Inc. (DKNG), translating to a mean rating of 2.10. Of 27 analyst(s) looking at the stock, 0 analyst(s) give DKNG a Sell rating. 1 of those analysts rate the stock as Overweight while 9 advise Hold as 17 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.52.
After registering a -0.54% downside in the latest session, DraftKings Inc. (DKNG) has traded red over the past five days. The stock hit a weekly high of 50.38 this Wednesday, 07/14/21, dropping -0.54% in its intraday price action. The 5-day price performance for the stock is -8.00%, and -11.40% over 30 days. With these gigs, the year-to-date price performance is -3.67%. Short interest in DraftKings Inc. (NASDAQ:DKNG) saw shorts transact 28.09 million shares and set a 1.59 days time to cover.
Analysts on Wall Street suggest a consensus price target of $69.73, implying an increase of 36.02% to the stock’s recent value. The extremes give us $42.50 and $105.00 for target low and target high price respectively. As such, DKNG has been trading -135.37% off suggested target high and 4.73% from its likely low.
DraftKings Inc. (DKNG) estimates and forecasts
Looking at statistics comparing DraftKings Inc. share performance against respective industry, we note that the company has underperformed competitors. DraftKings Inc. (DKNG) shares are -16.00% down over the last 6 months, with its year-to-date growth rate lower than industry average at -2.17% against 30.60%. Revenue is forecast to shrink -30.00% this quarter before jumping 19.40% for the next one. The rating firms project that company’s revenue will grow 88.20% compared to the previous financial year.
Revenue forecast for the current quarter as set by 20 analysts is $242.41 million. Meanwhile, for the quarter ending Sep 2021, a total of 20 analyst(s) estimate revenue growth to $223.55 million.
DraftKings Inc. has its next earnings report out on August 06. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. DraftKings Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
DraftKings Inc. (NASDAQ:DKNG)’s Major holders
DraftKings Inc. insiders hold 8.64% of total outstanding shares, with institutional holders owning 55.21% of the shares at 60.43% float percentage. In total, 55.21% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Mar 30, 2021, the company held over 24.1 million shares (or 6.01% of shares), all amounting to roughly $1.48 billion.
The next major institution holding the largest number of shares is price (T.Rowe) Associates Inc with 18.4 million shares, or about 4.59% of shares outstanding. As of the market price on Mar 30, 2021, these shares were worth $1.13 billion.
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We also have ARK ETF Tr-ARK Innovation ETF and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the DraftKings Inc. (DKNG) shares. Going by data provided on May 30, 2021, ARK ETF Tr-ARK Innovation ETF holds roughly 8.05 million shares. This is just over 2.01% of the total shares, with a market valuation of $401.99 million. Data from the same date shows that the other fund manager holds a little less at 7.72 million, or 1.93% of the shares, all valued at about 473.7 million.