DraftKings (NASDAQ:DKNG) ended the latest trading session at $31.79, experiencing a slight decrease of -0.19% compared to the previous day. This performance trailed behind the S&P 500’s daily increase of 0.67%. Simultaneously, the Dow recorded a 0.25% gain, and the tech-heavy Nasdaq saw a substantial rise of 1.14%.
Leading up to today, the company’s shares had surged by 8.37% over the past month, surpassing the Consumer Discretionary sector’s decline of 5.9% and the S&P 500’s dip of 0.73% during the same period.
As DraftKings approaches its upcoming earnings report date, Wall Street is eager for positive news. Analysts anticipate that DraftKings will report earnings of -$0.68 per share in the upcoming report, reflecting a 32% year-over-year growth. The latest consensus estimate predicts quarterly revenue of $688.55 million, marking a robust 37.18% increase from the same period last year.
Looking at the full-year outlook, DKNG’s Zacks Consensus Estimates project earnings of -$1.61 per share and revenue of $3.53 billion. These forecasts indicate remarkable year-over-year growth of +49.05% and +57.65%, respectively.
Investors may also take note of recent changes in analyst estimates for DraftKings. These revisions often mirror the latest short-term business trends, which can fluctuate frequently. Positive estimate revisions typically signal analyst confidence in the company’s business prospects and profitability.
Featured Image: Megapixl @ Rafaelhenriquepress
