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DraftKings (DKNG) Dips More Than Broader Markets: What You Should Know
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DraftKings (DKNG - Free Report) closed at $25.03 in the latest trading session, marking a -1.8% move from the prior day. This move lagged the S&P 500's daily loss of 0.77%. Elsewhere, the Dow lost 0.65%, while the tech-heavy Nasdaq lost 2.23%.
Heading into today, shares of the company had gained 7.6% over the past month, outpacing the Consumer Discretionary sector's gain of 1.5% and the S&P 500's gain of 4.66% in that time.
DraftKings will be looking to display strength as it nears its next earnings release. In that report, analysts expect DraftKings to post earnings of -$0.29 per share. This would mark year-over-year growth of 42%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $722.65 million, up 55.01% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.87 per share and revenue of $3.2 billion. These totals would mark changes of +40.82% and +42.97%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for DraftKings. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 0.21% higher. DraftKings currently has a Zacks Rank of #2 (Buy).
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 73, putting it in the top 29% 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
DraftKings (DKNG - Free Report) closed at $25.03 in the latest trading session, marking a -1.8% move from the prior day. This move lagged the S&P 500's daily loss of 0.77%. Elsewhere, the Dow lost 0.65%, while the tech-heavy Nasdaq lost 2.23%.
Heading into today, shares of the company had gained 7.6% over the past month, outpacing the Consumer Discretionary sector's gain of 1.5% and the S&P 500's gain of 4.66% in that time.
DraftKings will be looking to display strength as it nears its next earnings release. In that report, analysts expect DraftKings to post earnings of -$0.29 per share. This would mark year-over-year growth of 42%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $722.65 million, up 55.01% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.87 per share and revenue of $3.2 billion. These totals would mark changes of +40.82% and +42.97%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for DraftKings. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 0.21% higher. DraftKings currently has a Zacks Rank of #2 (Buy).
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 73, putting it in the top 29% 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.