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DraftKings (DKNG) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, DraftKings (DKNG - Free Report) closed at $58.28, marking a -0.99% move from the previous day. This change lagged the S&P 500's 0.44% loss on the day. At the same time, the Dow lost 0.38%, and the tech-heavy Nasdaq lost 0.72%.
Heading into today, shares of the company had gained 17.96% over the past month, outpacing the Consumer Discretionary sector's gain of 6.35% and the S&P 500's gain of 4.46% in that time.
Investors will be hoping for strength from DKNG as it approaches its next earnings release, which is expected to be February 26, 2021.
Investors should also note any recent changes to analyst estimates for DKNG. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 1.07% lower. DKNG is currently sporting a Zacks Rank of #4 (Sell).
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 206, putting it in the bottom 20% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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DraftKings (DKNG) Dips More Than Broader Markets: What You Should Know
In the latest trading session, DraftKings (DKNG - Free Report) closed at $58.28, marking a -0.99% move from the previous day. This change lagged the S&P 500's 0.44% loss on the day. At the same time, the Dow lost 0.38%, and the tech-heavy Nasdaq lost 0.72%.
Heading into today, shares of the company had gained 17.96% over the past month, outpacing the Consumer Discretionary sector's gain of 6.35% and the S&P 500's gain of 4.46% in that time.
Investors will be hoping for strength from DKNG as it approaches its next earnings release, which is expected to be February 26, 2021.
Investors should also note any recent changes to analyst estimates for DKNG. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 1.07% lower. DKNG is currently sporting a Zacks Rank of #4 (Sell).
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 206, putting it in the bottom 20% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.