DraftKings Inc. [DKNG] Revenue Reported at $1.86 Billion, Down -45.21% YoY: What Next?


DraftKings Inc. [NASDAQ: DKNG] The stock went on an uptrend that gained more than 1.01% on Friday, with a one-week price increase of more than 1.14%. The company reported on November 18, 2022, that DraftKings announced sponsorship of the Military Research Associate Program developed by the Kindbridge Research Institute.


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DraftKings Inc. (Nasdaq: DKNG) today announced that it will provide multi-year funding to the Kindbridge Research Institute (“KRI”) and serve as the sole corporate sponsor of KRI’s Military Research Associate Program (“MRAP”), a former Aids in transition from soldiers. Military service to receive advanced training in public mental health research. DraftKings’ sponsorship furthers its commitment to a systems-based, public health-informed approach to responsible gaming – including support of evidence-based research.

“It is a privilege to be able to take a leading role in supporting the next generation of researchers while training veterans for new careers together with KRI,” said Chrissy Thurmond, Senior Director, Responsible Gaming, DraftKings. “DraftKings has a deep tradition of supporting the military community through its Take for Heroes initiative and as part of the Serves Corporate Social Responsibility program, having previously provided support for KRI’s ongoing research on problem gaming among veterans. Designed to provide a solution to the lack of information about , We will continue to seek ways to give back to service members, veterans and their families.

In last 12 months, DKNG stock declined -58.90%. One Year DraftKings Inc. The stock forecast indicates a possible upside of 28.64. The Average Equity Rating for DKNG stock is currently 2.30, which is trading near to a bullish pattern in the stock market.

The market cap for the stock reached $6.69 billion, with 448.33 million shares outstanding and 434.45 million shares in the current float. Compared to the average trading volume of 21.11M shares, DKNG stock reached a trading volume of 17238879 shares in the most recent trading day, which is why market watchdogs consider the stock as active.

Guru’s take on DraftKings Inc. [DKNG],

Based on careful and fact-backed analyzes by Wall Street experts, the current consensus on a target price for DKNG shares is $21.09 per share. The target price and analysis on the performance of stocks are usually carefully studied by market experts, and the current Wall Street consensus on DKNG stock is a recommendation at 2.30. This rating represents a strong buy recommendation on a scale of 1 to 5, where 5 means strong sell, 4 represents sell, 3 indicates hold and 2 indicates buy.

Piper Sandler, DraftKings Inc., keeping her view on the stock as Overweight, in line with her previous recommendation on November 18, 2022. The new note on the price target was issued on October 12, 2022, which DraftKings Inc. Represents the official price target of the stock. Analysts increased their price target for DKNG shares from 18 to 25 on August 17, 2022.

DraftKings Inc. The Average True Range (ATR) for DKNG stock is set at 1.16, with a price to sales ratio of 3.60 for DKNG stock over the trailing 12-month period. The Price to Book ratio for the previous quarter was 4.70, the Price to Cash per share for the same quarter was set at 4.42.

DKNG Stock Performance Analysis:

DraftKings Inc. [DKNG] Reached the green zone at the end of last week, in a positive trend and with a gain of 1.14. With this latest performance, DKNG shares are up 13.07% over the past four-week period, as well as down 7.27% over the past 6 months — not to mention down -58.90% over the past year of trading.

Overbought and oversold stocks can be easily detected with the Relative Strength Index (RSI), where an RSI result of over 70 will result in overbought, and any rate below 30 will indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for the DKNG stock for the past two-week period is set at 53.28, with the RSI for the last one trading hit at 56.06, and the three-week RSI for DraftKings Inc. is set at 51.59. [DKNG], The current moving average of this stock for last 50 days of trade is 15.05, while for last one week it was recorded at 14.99 and for last 200 days it is 15.89.

DraftKings Inc. Insight into the fundamentals of:

Operating margin for any stock indicates how profitable an investment will be, and DraftKings Inc. [DKNG] The shares currently have an Operating Margin of -114.62 and Gross Margin at +38.72. DraftKings Inc. The Net Margin is currently recorded at -117.53.

The Return on Equity for this stock decreased to -70.68 while the Return on Assets stood at -40.57.

DraftKings Inc. Equally intriguing is its liquidity data, with a quick ratio of 1.70 and a current ratio set at 1.70.

DKNG Stock EPS

The progress of the company can be seen through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting 5-year EPS growth rate for DKNG. When it comes to quoted price, analysts are expecting DraftKings Inc. The 5 year EPS growth rate for the company would go up to -6.80%.

DraftKings Inc. [DKNG] internal status statement

Institutional investors currently hold approximately $3,933 million or 58.20% of DKNG stock in hands. The top three institutional holders of DKNG stock are: Vanguard Group Inc with ownership of 34,631,603, which accounts for approximately 6.525% of the company’s market cap and approximately 2.10% of total institutional ownership; ARK Investment Management LLC holds 24,707,394 shares of stock in DKNG stock shares with an approximate value of $371.85 million; and BlackRock Inc., with $217.63 million in DKNG stock currently owning approximately -1.808% of the company’s market capitalization.

DraftKings Inc. Shares positions held by institutional investors in Inc. increased at the end of November and at the time of the November reporting period, where 213 institutional holders increased their positions in DraftKings Inc. [NASDAQ:DKNG] By approximately 44,252,434 shares. Additionally, 239 investors reduced positions by approximately 32,697,746 shares, while 140 investors maintained positions by approximately 184,381,279 shares. As per the latest SEC report filing, the mentioned changes put the institutional holdings at 261,331,459 shares. There were 82 new institutional investments in DKNG stock for a total of 22,003,111 shares, while 70 institutional investors sold 7,086,638 shares during the same period.

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