Weekly Performance Analysis for DraftKings Inc. (DKNG)

DraftKings Inc. (NASDAQ:DKNG) saw a downside of -2.96% to close Friday at $47.91 after subtracting -$1.46 on the day. The 5-day average trading volume is 10,629,080 shares of the company’s common stock. It has gained $51.07 in the past week. An average of 12,841,930 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 12,618,404.

DKNG’s 1-month performance is -24.75% or -$15.48 on its low of $47.54 reached on 09/30/21. The company’s shares have touched a 52-week low of $34.90 and high of $74.38, with the stock’s rally to the 52-week high happening on 03/22/21. YTD, DKNG has achieved 2.90% or $1.35. However, the current price is down -35.59%% from the 52-week high price.

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Insider Transactions

On Oct 01, 10 days have gone by since the last insider trading activity for DraftKings Inc. (DKNG). Kalish Matthew (See Remarks) most recently sold 96,154 shares at $50.03 per share on Oct 01. This transaction cost the insider $4,810,647. See Remarks, Liberman Paul, sold 85,000 shares at a price of $48.19 on Sep 30. Then, on Sep 29, Chief Legal Officer Dodge R Stanton sold 50,589 shares at a price of $49.08 per share. This transaction amounted to $2,482,813.

Valuation Metrics

DraftKings Inc. (DKNG) has a trailing price-to-earnings (P/E) ratio of 21.70 for the broader industry and 20.34 for the sector.DKNG stock has a beta of 0.00. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 18.70 while the price-to-book (PB) in the most recent quarter is 8.73.

DraftKings Inc.’s quick ratio for the period ended June 29 was 4.70, with the current ratio over the same period at 4.70 meaning that DKNG stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.57, while the total debt to equity was 0.57. In terms of profitability, the gross margin trailing 12 months is 41.20%. The trailing 12-month EBITDA margin is -119.59%. The firm’s gross profit as reported stood at $267.94 million against revenue of $614.53 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 76.17% to $297.61 million, while revenue of $312.28 million was -4.93% off the previous quarter. Analysts expected DKNG to announce -$0.55 per share in earnings in its latest quarter, but it posted -$0.76, representing a -38.20% surprise. EBITDA for the quarter stood at more than -$291.5 million. DKNG stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 2.15 billion, with total debt at $1.32 billion. Shareholders hold equity totaling $796.31 million

Technical Picture

Let’s look briefly at DraftKings Inc. (DKNG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 October was 30.70% to suggest the stock is trending Neutral, with historical volatility in this time period at 43.23%.

The stock’s 5-day moving average is $48.80, reflecting a -5.24% or -$2.65 change from its current price. DKNG is currently trading -23.29% above its 20-day SMA, +8.22% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -3.78% and -8.57% respectively.

Stochastic %K and %D was 10.16% and 11.29% and the average true range (ATR) pointed at 2.14. The RSI (14) points at 34.21%, while the 14-day stochastic is at 3.53% with the period’s ATR at 2.19. The stock’s 9-day MACD Oscillator is pointing at -0.24 and -1.30 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for DraftKings Inc. (NASDAQ: DKNG), Wells Fargo launched coverage with an Overweight rating. Analysts offering their rating for DKNG stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate DKNG as a “sell,”, while 8 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 16 have offered a “buy” rating.

What is DKNG’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $42.50 and a high of $105.00, with their median price target at $74.00. Looking at these predictions, the average price target given by analysts is for DraftKings Inc. (DKNG) stock is $71.50.


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