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DraftKings (DKNG) Increases Despite Market Slip: Here's What You Need to Know
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DraftKings (DKNG - Free Report) closed the latest trading day at $37.65, indicating a +1.21% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 0.02%. Meanwhile, the Dow gained 0.38%, and the Nasdaq, a tech-heavy index, added 0.04%.
The company's shares have seen a decrease of 2.29% over the last month, not keeping up with the Consumer Discretionary sector's gain of 7.27% and the S&P 500's gain of 3.77%.
The investment community will be paying close attention to the earnings performance of DraftKings in its upcoming release. In that report, analysts expect DraftKings to post earnings of -$0.43 per share. This would mark year-over-year growth of 29.51%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.11 billion, up 40.68% from the year-ago period.
DKNG's full-year Zacks Consensus Estimates are calling for earnings of -$0.31 per share and revenue of $5.16 billion. These results would represent year-over-year changes of +82.08% and +40.77%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for DraftKings. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. DraftKings presently features 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 105, which puts it in the top 42% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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DraftKings (DKNG) Increases Despite Market Slip: Here's What You Need to Know
DraftKings (DKNG - Free Report) closed the latest trading day at $37.65, indicating a +1.21% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 0.02%. Meanwhile, the Dow gained 0.38%, and the Nasdaq, a tech-heavy index, added 0.04%.
The company's shares have seen a decrease of 2.29% over the last month, not keeping up with the Consumer Discretionary sector's gain of 7.27% and the S&P 500's gain of 3.77%.
The investment community will be paying close attention to the earnings performance of DraftKings in its upcoming release. In that report, analysts expect DraftKings to post earnings of -$0.43 per share. This would mark year-over-year growth of 29.51%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.11 billion, up 40.68% from the year-ago period.
DKNG's full-year Zacks Consensus Estimates are calling for earnings of -$0.31 per share and revenue of $5.16 billion. These results would represent year-over-year changes of +82.08% and +40.77%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for DraftKings. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. DraftKings presently features 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 105, which puts it in the top 42% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.