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DraftKings (DKNG) Rises Higher Than Market: Key Facts
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DraftKings (DKNG - Free Report) closed the latest trading day at $33.18, indicating a +0.91% change from the previous session's end. The stock exceeded the S&P 500, which registered a gain of 0.18% for the day. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, added 0.1%.
The the stock of company has fallen by 7.14% in the past month, lagging the Consumer Discretionary sector's gain of 2.02% and the S&P 500's gain of 2.75%.
Analysts and investors alike will be keeping a close eye on the performance of DraftKings in its upcoming earnings disclosure. The company is expected to report EPS of $0.14, up 126.42% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $1.26 billion, indicating a 47.65% growth compared to the corresponding quarter of the prior year.
Investors should also take note of any recent adjustments 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.39% upward. DraftKings is currently a Zacks Rank #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 92, this industry ranks in the top 37% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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DraftKings (DKNG) Rises Higher Than Market: Key Facts
DraftKings (DKNG - Free Report) closed the latest trading day at $33.18, indicating a +0.91% change from the previous session's end. The stock exceeded the S&P 500, which registered a gain of 0.18% for the day. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, added 0.1%.
The the stock of company has fallen by 7.14% in the past month, lagging the Consumer Discretionary sector's gain of 2.02% and the S&P 500's gain of 2.75%.
Analysts and investors alike will be keeping a close eye on the performance of DraftKings in its upcoming earnings disclosure. The company is expected to report EPS of $0.14, up 126.42% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $1.26 billion, indicating a 47.65% growth compared to the corresponding quarter of the prior year.
Investors should also take note of any recent adjustments 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.39% upward. DraftKings is currently a Zacks Rank #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 92, this industry ranks in the top 37% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.