DraftKings Inc. (NASDAQ: DKNG) Has Another Chance To Impress You

Currently, there are 472.70M common shares owned by the public and among those 453.19M shares have been available to trade.

The company’s stock has a 5-day price change of -5.30% and 26.88% over the past three months. DKNG shares are trading 28.82% year to date (YTD), with the 12-month market performance up to 157.86% higher. It has a 12-month low price of $17.42 and touched a high of $49.57 over the same period. DKNG has an average intraday trading volume of 12.16 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.15%, 7.91%, and 34.30% respectively.

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Institutional ownership of DraftKings Inc. (NASDAQ: DKNG) shares accounts for 67.92% of the company’s 472.70M shares outstanding.

It has a market capitalization of $21.51B and a beta (3y monthly) value of 1.85. The earnings-per-share (ttm) stands at -$1.74. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.66% over the week and 4.14% over the month.

Analysts forecast that DraftKings Inc. (DKNG) will achieve an EPS of -$0.28 for the current quarter, $0.04 for the next quarter and $0.79 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.35 while analysts give the company a high EPS estimate of -$0.08. Comparatively, EPS for the current quarter was -$0.87 a year ago. Earnings per share for the fiscal year are expected to increase by 89.52%, and 512.57% over the next financial year.

Looking at the support for the DKNG, a number of firms have released research notes about the stock. Needham stated their Buy rating for the stock in a research note on March 27, 2024, with the firm’s price target at $54-$58. Mizuho coverage for the DraftKings Inc. (DKNG) stock in a research note released on March 26, 2024 offered a Buy rating with a price target of $58. Susquehanna was of a view on March 25, 2024 that the stock is Positive, while Morgan Stanley gave the stock Overweight rating on February 28, 2024, issuing a price target of $40- $49. Barclays on their part issued Overweight rating on February 23, 2024.

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