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DraftKings (DKNG) Dips More Than Broader Markets: What You Should Know
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DraftKings (DKNG - Free Report) closed at $21.50 in the latest trading session, marking a -1.78% move from the prior day. This change lagged the S&P 500's 0.37% loss on the day.
Prior to today's trading, shares of the company had lost 19.64% over the past month. This has lagged the Consumer Discretionary sector's loss of 9.43% and the S&P 500's loss of 6.01% in that time.
DraftKings will be looking to display strength as it nears its next earnings release, which is expected to be February 18, 2022. The company is expected to report EPS of -$0.82, down 18.84% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $439.51 million, up 36.4% from the year-ago period.
Any recent changes to analyst estimates for DraftKings should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.66% lower. DraftKings is currently sporting a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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DraftKings (DKNG) Dips More Than Broader Markets: What You Should Know
DraftKings (DKNG - Free Report) closed at $21.50 in the latest trading session, marking a -1.78% move from the prior day. This change lagged the S&P 500's 0.37% loss on the day.
Prior to today's trading, shares of the company had lost 19.64% over the past month. This has lagged the Consumer Discretionary sector's loss of 9.43% and the S&P 500's loss of 6.01% in that time.
DraftKings will be looking to display strength as it nears its next earnings release, which is expected to be February 18, 2022. The company is expected to report EPS of -$0.82, down 18.84% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $439.51 million, up 36.4% from the year-ago period.
Any recent changes to analyst estimates for DraftKings should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.66% lower. DraftKings is currently sporting a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.