Brokerages expect that DraftKings Inc. (NASDAQ:DKNG) will post ($0.50) earnings per share for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for DraftKings’ earnings, with the lowest EPS estimate coming in at ($0.81) and the highest estimate coming in at ($0.29). DraftKings reported earnings of ($0.18) per share during the same quarter last year, which would indicate a negative year over year growth rate of 177.8%. The firm is scheduled to report its next earnings results before the market opens on Friday, May 7th.
According to Zacks, analysts expect that DraftKings will report full-year earnings of ($1.87) per share for the current financial year, with EPS estimates ranging from ($3.01) to ($1.10). For the next fiscal year, analysts forecast that the business will post earnings of ($1.57) per share, with EPS estimates ranging from ($2.19) to ($1.06). Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that cover DraftKings.
DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Thursday, February 25th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.12). The business had revenue of $322.00 million during the quarter, compared to analysts’ expectations of $232.04 million. The firm’s quarterly revenue was up 68.6% on a year-over-year basis.
Several research firms recently weighed in on DKNG. Macquarie lifted their price target on DraftKings from $71.00 to $73.00 and gave the company an “outperform” rating in a research report on Tuesday, March 16th. Zacks Investment Research upgraded DraftKings from a “sell” rating to a “hold” rating in a research report on Friday. UBS Group lifted their price target on DraftKings from $52.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, March 1st. Cowen upgraded DraftKings from a “market perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a research report on Monday. Finally, Needham & Company LLC began coverage on DraftKings in a research note on Monday. They set a “buy” rating and a $81.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $66.24.
Shares of DKNG stock opened at $55.80 on Thursday. DraftKings has a fifty-two week low of $19.95 and a fifty-two week high of $74.38. The business’s 50 day moving average price is $62.20 and its 200-day moving average price is $54.58.
Institutional investors have recently modified their holdings of the company. Atwood & Palmer Inc. acquired a new position in shares of DraftKings during the 1st quarter worth approximately $25,000. Allworth Financial LP boosted its stake in DraftKings by 137.5% in the first quarter. Allworth Financial LP now owns 475 shares of the company’s stock valued at $29,000 after acquiring an additional 275 shares in the last quarter. FNY Investment Advisers LLC raised its holdings in DraftKings by 172.4% during the fourth quarter. FNY Investment Advisers LLC now owns 550 shares of the company’s stock worth $25,000 after purchasing an additional 1,310 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of DraftKings by 109.4% in the fourth quarter. Global Retirement Partners LLC now owns 555 shares of the company’s stock valued at $26,000 after purchasing an additional 290 shares during the last quarter. Finally, North Star Investment Management Corp. boosted its position in DraftKings by 88.3% during the fourth quarter. North Star Investment Management Corp. now owns 565 shares of the company’s stock worth $26,000 after acquiring an additional 265 shares during the last quarter. Institutional investors and hedge funds own 46.50% of the company’s stock.
DraftKings Inc operates as a digital sports entertainment and gaming company in the United States. It operates through two segments, Business-to-Consumer and Business-to-Business. The company provides users with daily sports, sports betting, and iGaming opportunities. It is also involved in the design, development, and licensing of sports betting and casino gaming platform software for online and retail sportsbook, and casino gaming products.
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