We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
DraftKings (DKNG) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
In the latest trading session, DraftKings (DKNG - Free Report) closed at $27.77, marking a +1.09% move from the previous day. This change outpaced the S&P 500's 0.64% gain on the day. Meanwhile, the Dow gained 0.68%, and the Nasdaq, a tech-heavy index, added 0.46%.
Coming into today, shares of the company had lost 3.17% in the past month. In that same time, the Consumer Discretionary sector gained 1%, while the S&P 500 gained 4.56%.
Investors will be hoping for strength from DraftKings as it approaches its next earnings release. On that day, DraftKings is projected to report earnings of -$1.14 per share, which would represent a year-over-year decline of 65.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $439.7 million, up 36.46% from the year-ago period.
Investors might also notice recent changes to analyst estimates for DraftKings. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.85% lower. DraftKings is holding a Zacks Rank of #4 (Sell) right now.
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 194, putting it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
DraftKings (DKNG) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, DraftKings (DKNG - Free Report) closed at $27.77, marking a +1.09% move from the previous day. This change outpaced the S&P 500's 0.64% gain on the day. Meanwhile, the Dow gained 0.68%, and the Nasdaq, a tech-heavy index, added 0.46%.
Coming into today, shares of the company had lost 3.17% in the past month. In that same time, the Consumer Discretionary sector gained 1%, while the S&P 500 gained 4.56%.
Investors will be hoping for strength from DraftKings as it approaches its next earnings release. On that day, DraftKings is projected to report earnings of -$1.14 per share, which would represent a year-over-year decline of 65.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $439.7 million, up 36.46% from the year-ago period.
Investors might also notice recent changes to analyst estimates for DraftKings. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.85% lower. DraftKings is holding a Zacks Rank of #4 (Sell) right now.
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 194, putting it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.