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DraftKings (DKNG) Stock Moves 0.23%: What You Should Know
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DraftKings (DKNG - Free Report) closed the latest trading day at $38.98, indicating a +0.23% change from the previous session's end. This move traded in line with S&P 500. At the same time, the Dow lost 0.17%, and the tech-heavy Nasdaq gained 0.34%.
The company's shares have seen a decrease of 15.73% over the last month, not keeping up with the Consumer Discretionary sector's gain of 0.72% and the S&P 500's gain of 3.96%.
The upcoming earnings release of DraftKings will be of great interest to investors. In that report, analysts expect DraftKings to post earnings of $0.02 per share. This would mark year-over-year growth of 111.76%. At the same time, our most recent consensus estimate is projecting a revenue of $1.11 billion, reflecting a 27.43% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.21 per share and revenue of $4.96 billion, which would represent changes of +87.86% and +35.42%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for DraftKings. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 9.47% lower. Currently, DraftKings is carrying a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 81, positioning it in the top 33% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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DraftKings (DKNG) Stock Moves 0.23%: What You Should Know
DraftKings (DKNG - Free Report) closed the latest trading day at $38.98, indicating a +0.23% change from the previous session's end. This move traded in line with S&P 500. At the same time, the Dow lost 0.17%, and the tech-heavy Nasdaq gained 0.34%.
The company's shares have seen a decrease of 15.73% over the last month, not keeping up with the Consumer Discretionary sector's gain of 0.72% and the S&P 500's gain of 3.96%.
The upcoming earnings release of DraftKings will be of great interest to investors. In that report, analysts expect DraftKings to post earnings of $0.02 per share. This would mark year-over-year growth of 111.76%. At the same time, our most recent consensus estimate is projecting a revenue of $1.11 billion, reflecting a 27.43% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.21 per share and revenue of $4.96 billion, which would represent changes of +87.86% and +35.42%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for DraftKings. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 9.47% lower. Currently, DraftKings is carrying a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 81, positioning it in the top 33% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.