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DraftKings (DKNG) Gains But Lags Market: What You Should Know
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DraftKings (DKNG - Free Report) closed the most recent trading day at $26.57, moving +1.14% from the previous trading session. This move lagged the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 0.84%, and the Nasdaq, a tech-heavy index, lost 2.24%.
Coming into today, shares of the company had gained 7.53% in the past month. In that same time, the Consumer Discretionary sector gained 5.96%, while the S&P 500 gained 4.67%.
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 -$0.29 per share, which would represent year-over-year growth of 42%. Meanwhile, our latest consensus estimate is calling for revenue of $722.65 million, up 55.01% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.87 per share and revenue of $3.2 billion, which would represent changes of +40.82% and +42.97%, respectively, from the prior year.
Any recent changes to analyst estimates for DraftKings should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.21% higher within the past month. 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 75, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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
DraftKings (DKNG - Free Report) closed the most recent trading day at $26.57, moving +1.14% from the previous trading session. This move lagged the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 0.84%, and the Nasdaq, a tech-heavy index, lost 2.24%.
Coming into today, shares of the company had gained 7.53% in the past month. In that same time, the Consumer Discretionary sector gained 5.96%, while the S&P 500 gained 4.67%.
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 -$0.29 per share, which would represent year-over-year growth of 42%. Meanwhile, our latest consensus estimate is calling for revenue of $722.65 million, up 55.01% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.87 per share and revenue of $3.2 billion, which would represent changes of +40.82% and +42.97%, respectively, from the prior year.
Any recent changes to analyst estimates for DraftKings should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.21% higher within the past month. 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 75, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.