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DraftKings (DKNG) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, DraftKings (DKNG - Free Report) closed at $14.30, marking a -1.72% move from the previous day. This change lagged the S&P 500's daily gain of 1.1%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 6.59%.
Prior to today's trading, shares of the company had gained 31.67% over the past month. This has outpaced the Consumer Discretionary sector's gain of 14.56% and the S&P 500's gain of 4.58% in that time.
Investors will be hoping for strength from DraftKings as it approaches its next earnings release. The company is expected to report EPS of -$0.64, up 20% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $793.18 million, up 67.57% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for DraftKings. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.31% lower within the past month. DraftKings is currently a Zacks Rank #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow DKNG in the coming trading sessions, be sure to utilize Zacks.com.
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DraftKings (DKNG) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, DraftKings (DKNG - Free Report) closed at $14.30, marking a -1.72% move from the previous day. This change lagged the S&P 500's daily gain of 1.1%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 6.59%.
Prior to today's trading, shares of the company had gained 31.67% over the past month. This has outpaced the Consumer Discretionary sector's gain of 14.56% and the S&P 500's gain of 4.58% in that time.
Investors will be hoping for strength from DraftKings as it approaches its next earnings release. The company is expected to report EPS of -$0.64, up 20% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $793.18 million, up 67.57% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for DraftKings. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.31% lower within the past month. DraftKings is currently a Zacks Rank #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow DKNG in the coming trading sessions, be sure to utilize Zacks.com.