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DraftKings (DKNG) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, DraftKings (DKNG - Free Report) closed at $31.25, marking a +0.68% move from the previous day. This move outpaced the S&P 500's daily gain of 0.07%. Meanwhile, the Dow gained 0.02%, and the Nasdaq, a tech-heavy index, added 0.01%.
Prior to today's trading, shares of the company had gained 16.82% over the past month. This has outpaced the Consumer Discretionary sector's loss of 3.73% and the S&P 500's gain of 0.38% in that time.
DraftKings will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.68, up 32% from the prior-year quarter. 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 recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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 is holding a Zacks Rank of #3 (Hold) right now.
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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DraftKings (DKNG) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, DraftKings (DKNG - Free Report) closed at $31.25, marking a +0.68% move from the previous day. This move outpaced the S&P 500's daily gain of 0.07%. Meanwhile, the Dow gained 0.02%, and the Nasdaq, a tech-heavy index, added 0.01%.
Prior to today's trading, shares of the company had gained 16.82% over the past month. This has outpaced the Consumer Discretionary sector's loss of 3.73% and the S&P 500's gain of 0.38% in that time.
DraftKings will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.68, up 32% from the prior-year quarter. 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 recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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 is holding a Zacks Rank of #3 (Hold) right now.
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.