Will Recent Reports Affect DraftKings's Share Price?

By Naomi Wentworth • Tuesday, November 29 12:03 • Permanent Link

DraftKings rose 1.8% during the afternoon session to $14.76 per share. As reported by Barrons: "DraftKings stock is rising Tuesday on news the sports-betting company has partnered with Churchill Downs to allow horse-race betting on its platforms." You can read more about it here. For those of you thinking about investing in the stock, here is a brief look at the company's fundamentals.

DraftKings Inc. operates a digital sports entertainment and gaming company. The company belongs to the Consumer Cyclical sector, which has an average price to earnings (P/E) ratio of 24.11 and an average price to book (P/B) ratio of 3.11. In contrast, DraftKings has a trailing 12 month P/E ratio of -4.1 and a P/B ratio of 3.3.

At today's price of $14.76 per share, DraftKings is -41.73% away from its target price of $25.33, and on average, analysts give the stock a rating of buy.9.1% of the company's shares are linked to short positions, and 56.5% of the shares are owned by institutional investors.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.