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DraftKings (DKNG) Gains But Lags Market: What You Should Know
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In the latest market close, DraftKings (DKNG - Free Report) reached $37.62, with a +0.21% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 1.23% for the day. On the other hand, the Dow registered a gain of 1.06%, and the technology-centric Nasdaq increased by 1.7%.
Prior to today's trading, shares of the company had gained 6.92% over the past month. This has outpaced the Consumer Discretionary sector's loss of 2.56% and the S&P 500's gain of 0.94% in that time.
Investors will be eagerly watching for the performance of DraftKings in its upcoming earnings disclosure. In that report, analysts expect DraftKings to post earnings of $0.11 per share. This would mark year-over-year growth of 120.75%. Simultaneously, our latest consensus estimate expects the revenue to be $1.25 billion, showing a 45.62% escalation compared to the year-ago quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for DraftKings. 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. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.76% upward. Right now, DraftKings possesses a Zacks Rank of #2 (Buy).
The Gaming industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 102, finds itself in the top 41% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DKNG in the coming trading sessions, be sure to utilize Zacks.com.
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DraftKings (DKNG) Gains But Lags Market: What You Should Know
In the latest market close, DraftKings (DKNG - Free Report) reached $37.62, with a +0.21% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 1.23% for the day. On the other hand, the Dow registered a gain of 1.06%, and the technology-centric Nasdaq increased by 1.7%.
Prior to today's trading, shares of the company had gained 6.92% over the past month. This has outpaced the Consumer Discretionary sector's loss of 2.56% and the S&P 500's gain of 0.94% in that time.
Investors will be eagerly watching for the performance of DraftKings in its upcoming earnings disclosure. In that report, analysts expect DraftKings to post earnings of $0.11 per share. This would mark year-over-year growth of 120.75%. Simultaneously, our latest consensus estimate expects the revenue to be $1.25 billion, showing a 45.62% escalation compared to the year-ago quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for DraftKings. 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. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.76% upward. Right now, DraftKings possesses a Zacks Rank of #2 (Buy).
The Gaming industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 102, finds itself in the top 41% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DKNG in the coming trading sessions, be sure to utilize Zacks.com.