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DraftKings (DKNG) Gains But Lags Market: What You Should Know
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DraftKings (DKNG - Free Report) closed at $28.96 in the latest trading session, marking a +0.35% move from the prior day. This move lagged the S&P 500's daily gain of 0.67%. Elsewhere, the Dow gained 0.93%, while the tech-heavy Nasdaq added 9.29%.
Prior to today's trading, shares of the company had gained 13.35% over the past month. This has outpaced the Consumer Discretionary sector's loss of 0.11% and the S&P 500's gain of 2.65% in that time.
DraftKings will be looking to display strength as it nears its next earnings release. On that day, DraftKings is projected to report earnings of -$0.28 per share, which would represent year-over-year growth of 44%. Meanwhile, our latest consensus estimate is calling for revenue of $742.96 million, up 59.37% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.86 per share and revenue of $3.22 billion. These totals would mark changes of +41.14% and +43.87%, respectively, from last year.
Investors might also notice 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 0.8% higher. DraftKings is currently sporting a Zacks Rank of #2 (Buy).
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 74, putting it in the top 30% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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DraftKings (DKNG) Gains But Lags Market: What You Should Know
DraftKings (DKNG - Free Report) closed at $28.96 in the latest trading session, marking a +0.35% move from the prior day. This move lagged the S&P 500's daily gain of 0.67%. Elsewhere, the Dow gained 0.93%, while the tech-heavy Nasdaq added 9.29%.
Prior to today's trading, shares of the company had gained 13.35% over the past month. This has outpaced the Consumer Discretionary sector's loss of 0.11% and the S&P 500's gain of 2.65% in that time.
DraftKings will be looking to display strength as it nears its next earnings release. On that day, DraftKings is projected to report earnings of -$0.28 per share, which would represent year-over-year growth of 44%. Meanwhile, our latest consensus estimate is calling for revenue of $742.96 million, up 59.37% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.86 per share and revenue of $3.22 billion. These totals would mark changes of +41.14% and +43.87%, respectively, from last year.
Investors might also notice 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 0.8% higher. DraftKings is currently sporting a Zacks Rank of #2 (Buy).
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 74, putting it in the top 30% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.