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DraftKings (DKNG) Advances While Market Declines: Some Information for Investors
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DraftKings (DKNG - Free Report) closed the latest trading day at $41.95, indicating a +0.87% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 0.32%. Elsewhere, the Dow saw a downswing of 0.71%, while the tech-heavy Nasdaq depreciated by 0.2%.
Shares of the company witnessed a gain of 25.35% over the previous month, beating the performance of the Consumer Discretionary sector with its gain of 2.23% and the S&P 500's gain of 4.59%.
Analysts and investors alike will be keeping a close eye on the performance of DraftKings in its upcoming earnings disclosure. The company's earnings report is set to go public on February 15, 2024. The company is predicted to post an EPS of $0.07, indicating a 113.21% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $1.22 billion, up 42.88% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for DraftKings. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 5.23% higher. At present, DraftKings boasts a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 111, finds itself in the top 45% echelons 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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DraftKings (DKNG) Advances While Market Declines: Some Information for Investors
DraftKings (DKNG - Free Report) closed the latest trading day at $41.95, indicating a +0.87% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 0.32%. Elsewhere, the Dow saw a downswing of 0.71%, while the tech-heavy Nasdaq depreciated by 0.2%.
Shares of the company witnessed a gain of 25.35% over the previous month, beating the performance of the Consumer Discretionary sector with its gain of 2.23% and the S&P 500's gain of 4.59%.
Analysts and investors alike will be keeping a close eye on the performance of DraftKings in its upcoming earnings disclosure. The company's earnings report is set to go public on February 15, 2024. The company is predicted to post an EPS of $0.07, indicating a 113.21% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $1.22 billion, up 42.88% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for DraftKings. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 5.23% higher. At present, DraftKings boasts a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 111, finds itself in the top 45% echelons 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.