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DraftKings (DKNG) Stock Sinks As Market Gains: What You Should Know
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DraftKings (DKNG - Free Report) closed at $31.79 in the latest trading session, marking a -0.19% move from the prior day. This move lagged the S&P 500's daily gain of 0.67%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 1.14%.
Heading into today, shares of the company had gained 8.37% over the past month, outpacing the Consumer Discretionary sector's loss of 5.9% and the S&P 500's loss of 0.73% in that time.
Wall Street will be looking for positivity from DraftKings as it approaches its next earnings report date. In that report, analysts expect DraftKings to post earnings of -$0.68 per share. This would mark year-over-year growth of 32%. Our most recent consensus estimate is calling for quarterly revenue of $688.55 million, up 37.18% from the year-ago period.
DKNG's full-year Zacks Consensus Estimates are calling for earnings of -$1.61 per share and revenue of $3.53 billion. These results would represent year-over-year changes of +49.05% and +57.65%, respectively.
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.
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. The Zacks Consensus EPS estimate has moved 0.09% higher within the past month. DraftKings is currently sporting a Zacks Rank of #2 (Buy).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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DraftKings (DKNG) Stock Sinks As Market Gains: What You Should Know
DraftKings (DKNG - Free Report) closed at $31.79 in the latest trading session, marking a -0.19% move from the prior day. This move lagged the S&P 500's daily gain of 0.67%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 1.14%.
Heading into today, shares of the company had gained 8.37% over the past month, outpacing the Consumer Discretionary sector's loss of 5.9% and the S&P 500's loss of 0.73% in that time.
Wall Street will be looking for positivity from DraftKings as it approaches its next earnings report date. In that report, analysts expect DraftKings to post earnings of -$0.68 per share. This would mark year-over-year growth of 32%. Our most recent consensus estimate is calling for quarterly revenue of $688.55 million, up 37.18% from the year-ago period.
DKNG's full-year Zacks Consensus Estimates are calling for earnings of -$1.61 per share and revenue of $3.53 billion. These results would represent year-over-year changes of +49.05% and +57.65%, respectively.
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.
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. The Zacks Consensus EPS estimate has moved 0.09% higher within the past month. DraftKings is currently sporting a Zacks Rank of #2 (Buy).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.