We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
DraftKings (DKNG) Ascends While Market Falls: Some Facts to Note
Read MoreHide Full Article
The most recent trading session ended with DraftKings (DKNG - Free Report) standing at $26.64, reflecting a +1.6% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.48%. Meanwhile, the Dow lost 1.12%, and the Nasdaq, a tech-heavy index, added 0.38%.
Coming into today, shares of the company had lost 9.37% in the past month. In that same time, the Consumer Discretionary sector lost 2.79%, while the S&P 500 lost 2.65%.
Investors will be eagerly watching for the performance of DraftKings in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 2, 2023. On that day, DraftKings is projected to report earnings of -$0.69 per share, which would represent year-over-year growth of 31%. Our most recent consensus estimate is calling for quarterly revenue of $702.26 million, up 39.91% from the year-ago period.
DKNG's full-year Zacks Consensus Estimates are calling for earnings of -$1.62 per share and revenue of $3.54 billion. These results would represent year-over-year changes of +48.73% and +58.19%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for DraftKings. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.21% higher. DraftKings is currently sporting a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
DraftKings (DKNG) Ascends While Market Falls: Some Facts to Note
The most recent trading session ended with DraftKings (DKNG - Free Report) standing at $26.64, reflecting a +1.6% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.48%. Meanwhile, the Dow lost 1.12%, and the Nasdaq, a tech-heavy index, added 0.38%.
Coming into today, shares of the company had lost 9.37% in the past month. In that same time, the Consumer Discretionary sector lost 2.79%, while the S&P 500 lost 2.65%.
Investors will be eagerly watching for the performance of DraftKings in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 2, 2023. On that day, DraftKings is projected to report earnings of -$0.69 per share, which would represent year-over-year growth of 31%. Our most recent consensus estimate is calling for quarterly revenue of $702.26 million, up 39.91% from the year-ago period.
DKNG's full-year Zacks Consensus Estimates are calling for earnings of -$1.62 per share and revenue of $3.54 billion. These results would represent year-over-year changes of +48.73% and +58.19%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for DraftKings. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.21% higher. DraftKings is currently sporting a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.