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DraftKings (DKNG) Beats Stock Market Upswing: What Investors Need to Know
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DraftKings (DKNG - Free Report) closed the most recent trading day at $37.86, moving +1.91% from the previous trading session. This change outpaced the S&P 500's 0.55% gain on the day. Meanwhile, the Dow experienced a rise of 0.62%, and the technology-dominated Nasdaq saw an increase of 0.63%.
Heading into today, shares of the company had lost 4.69% over the past month, lagging the Consumer Discretionary sector's loss of 0.99% and the S&P 500's gain of 4.28% in that time.
Investors will be eagerly watching for the performance of DraftKings in its upcoming earnings disclosure. On that day, DraftKings is projected to report earnings of -$0.01 per share, which would represent year-over-year growth of 94.12%. At the same time, our most recent consensus estimate is projecting a revenue of $1.12 billion, reflecting a 27.97% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.26 per share and revenue of $4.99 billion, indicating changes of +84.97% and +36.15%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for DraftKings. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. The Zacks Consensus EPS estimate has moved 26.88% lower within the past month. 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 66, this industry ranks in the top 27% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
To follow DKNG in the coming trading sessions, be sure to utilize Zacks.com.
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DraftKings (DKNG) Beats Stock Market Upswing: What Investors Need to Know
DraftKings (DKNG - Free Report) closed the most recent trading day at $37.86, moving +1.91% from the previous trading session. This change outpaced the S&P 500's 0.55% gain on the day. Meanwhile, the Dow experienced a rise of 0.62%, and the technology-dominated Nasdaq saw an increase of 0.63%.
Heading into today, shares of the company had lost 4.69% over the past month, lagging the Consumer Discretionary sector's loss of 0.99% and the S&P 500's gain of 4.28% in that time.
Investors will be eagerly watching for the performance of DraftKings in its upcoming earnings disclosure. On that day, DraftKings is projected to report earnings of -$0.01 per share, which would represent year-over-year growth of 94.12%. At the same time, our most recent consensus estimate is projecting a revenue of $1.12 billion, reflecting a 27.97% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.26 per share and revenue of $4.99 billion, indicating changes of +84.97% and +36.15%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for DraftKings. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. The Zacks Consensus EPS estimate has moved 26.88% lower within the past month. 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 66, this industry ranks in the top 27% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
To follow DKNG in the coming trading sessions, be sure to utilize Zacks.com.