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DraftKings (DKNG) Gains But Lags Market: What You Should Know
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In the latest trading session, DraftKings (DKNG - Free Report) closed at $15.40, marking a +1.72% move from the previous day. The stock lagged the S&P 500's daily gain of 2.59%. Elsewhere, the Dow gained 2.66%, while the tech-heavy Nasdaq added 0.07%.
Prior to today's trading, shares of the company had lost 2.26% over the past month. This has was narrower than the Consumer Discretionary sector's loss of 13.09% and the S&P 500's loss of 9.22% in that time.
Investors will be hoping for strength from DraftKings as it approaches its next earnings release. On that day, DraftKings is projected to report earnings of -$0.87 per share, which would represent year-over-year growth of 35.56%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $432.56 million, up 103.25% from the year-ago period.
DKNG's full-year Zacks Consensus Estimates are calling for earnings of -$3.07 per share and revenue of $2.14 billion. These results would represent year-over-year changes of +18.78% and +65.28%, respectively.
Investors should also note any recent changes to analyst estimates for DraftKings. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.05% lower. 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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DraftKings (DKNG) Gains But Lags Market: What You Should Know
In the latest trading session, DraftKings (DKNG - Free Report) closed at $15.40, marking a +1.72% move from the previous day. The stock lagged the S&P 500's daily gain of 2.59%. Elsewhere, the Dow gained 2.66%, while the tech-heavy Nasdaq added 0.07%.
Prior to today's trading, shares of the company had lost 2.26% over the past month. This has was narrower than the Consumer Discretionary sector's loss of 13.09% and the S&P 500's loss of 9.22% in that time.
Investors will be hoping for strength from DraftKings as it approaches its next earnings release. On that day, DraftKings is projected to report earnings of -$0.87 per share, which would represent year-over-year growth of 35.56%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $432.56 million, up 103.25% from the year-ago period.
DKNG's full-year Zacks Consensus Estimates are calling for earnings of -$3.07 per share and revenue of $2.14 billion. These results would represent year-over-year changes of +18.78% and +65.28%, respectively.
Investors should also note any recent changes to analyst estimates for DraftKings. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.05% lower. 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.