DraftKings Inc. (NASDAQ:DKNG) does about 13.85M shares in volume on a normal day but saw 18410648 shares change hands in Friday trading. The company now has a market cap of 13.89B USD and an enterprise value of about $12.25B. Its current market price is $36.32, marking a decrease of -7.01% compared to the previous close of $39.06. The 52 week high reached by this stock is $44.79 whilst the lowest price level in 52 weeks is $9.84. The script in recent trading has seen the stock touch a high of $38.61 and a low of $36.19.
DraftKings Inc. (DKNG) has a 20-day trading average at $35.12 and the current price is -18.91% off the 52-week high compared with 269.11% distance from its 52-week low. The 50-day simple moving average of the closing price is $34.88 and its 200-day simple moving average is $22.09. If we look at the stock’s price movements over the week, volatility stands at 8.40%, which decreases to 7.13% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 52.14 to suggest the stock is neutral.
12 analysts observing the DraftKings Inc. (DKNG) stock have set the 12-month price targets for the company’s shares at between $35.00 and $60.00. The consensus objective for the share price is $46.45, suggesting that the stock has a potential upside of 21.81% over the period. The median price target is 27.36% away from the current levels at $50.00.
FactSet Research has provided data showing that 12 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 9 analysts have rated it as a buy and 3 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Strong Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on August 28, 2020 when Morgan Stanley downgraded the stock to “Equal-Weight” and issued a price target of $37. The Benchmark Company initiated its price target at $47.
The current price level is 3.85%, 3.85%, and 65.44% away from its SMA20, SMA50, and SMA200 respectively, with the DKNG price moving above the 50-day SMA on August 28. DraftKings Inc. (DKNG) stock is up 3.33% over the week and 4.40% over the past month. Its price is 239.44% year-to-date.
The stock last released its quarterly earnings report for quarter ended 6/29/2020, with the company’s earnings per share (EPS) of -$0.55 below consensus estimates by -$0.35. Expected sales for next quarter are $204.17 million, which analysts say will come at $516.66 million for the current fiscal year and next year at $748.55 million. In addition, estimates put the company’s current quarterly revenue at an average of $131.73 million.
Its 12-month price target is $50.00. To reach the target analysts have set, the stock logically needs to grow 21.81 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $35.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $60.00.
Outstanding shares total 353.84M with insiders holding 48.94% of the shares and institutional holders owning 10.83% of the company’s common stock. The company has a return on equity of 0.60%. The price to earnings ratio (P/E ratio) amounts to 660.36. Price to book ratio is 4.66 and price to sales ratio is 38.86.
American Funds Small Cap World Fu isn’t the only investment manager who changed stakes and is followed by Vanguard Total Stock Market Index, which sold off 19031.0 shares to end up with 7,513,024 shares worth $250.75 million. Vanguard Mid Cap Index Fund cut their holdings by -0.78% in the company over the course of the most recent quarter. It now holds a 1.83% position in DraftKings Inc. thanks to 6.47 million shares amounting to $215.98 million.