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DraftKings (DKNG) Gains But Lags Market: What You Should Know
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DraftKings (DKNG - Free Report) closed at $11.63 in the latest trading session, marking a +1.31% move from the prior day. This change lagged the S&P 500's 2.28% gain on the day. Meanwhile, the Dow gained 2.13%, and the Nasdaq, a tech-heavy index, added 5.02%.
Prior to today's trading, shares of the company had lost 21.42% over the past month. This has lagged the Consumer Discretionary sector's loss of 0.94% and the S&P 500's loss of 4.61% in that time.
DraftKings will be looking to display strength as it nears its next earnings release. In that report, analysts expect DraftKings to post earnings of -$0.64 per share. This would mark year-over-year growth of 20%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $795.34 million, up 68.03% from the year-ago period.
Investors should also note any recent changes to analyst estimates for DraftKings. Recent revisions tend to reflect the latest 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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. DraftKings currently has 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 179, which puts it in the bottom 29% 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.
To follow DKNG in the coming trading sessions, be sure to utilize Zacks.com.
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DraftKings (DKNG) Gains But Lags Market: What You Should Know
DraftKings (DKNG - Free Report) closed at $11.63 in the latest trading session, marking a +1.31% move from the prior day. This change lagged the S&P 500's 2.28% gain on the day. Meanwhile, the Dow gained 2.13%, and the Nasdaq, a tech-heavy index, added 5.02%.
Prior to today's trading, shares of the company had lost 21.42% over the past month. This has lagged the Consumer Discretionary sector's loss of 0.94% and the S&P 500's loss of 4.61% in that time.
DraftKings will be looking to display strength as it nears its next earnings release. In that report, analysts expect DraftKings to post earnings of -$0.64 per share. This would mark year-over-year growth of 20%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $795.34 million, up 68.03% from the year-ago period.
Investors should also note any recent changes to analyst estimates for DraftKings. Recent revisions tend to reflect the latest 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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. DraftKings currently has 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 179, which puts it in the bottom 29% 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.
To follow DKNG in the coming trading sessions, be sure to utilize Zacks.com.