DraftKings(DKNG) Shares Soar 0.63% on Earnings Expectations

DraftKings(DKNG) shares rose to their highest level since February 2025 today, with an intraday gain of 0.63%.

The strategy of buying DKNG shares after they reached a recent high and holding for one week resulted in a 209.23% return over the past five years. This significantly outperformed the benchmark, which had a return of -100.00%. The strategy also delivered a maximum drawdown of 0.00%, indicating it effectively managed risk, with a Sharpe ratio of 1.19 and a volatility of 48.14%.

DraftKings is anticipated to report earnings of $0.41 per share for the current quarter, marking a year-over-year increase of 241.7%. This substantial improvement in earnings is likely to have a positive impact on the stock price.

Several analysts have raised their price targets for DraftKings. Morgan Stanley increased its target from $51.00 to $52.00, while Citi maintained a Buy rating with a $58.00 price target. Mizuho also set a $58 price target, indicating a potential 30% upside. These adjustments reflect a positive outlook and high expectations for the stock's future performance.

As of March 31, 2025, DraftKings achieved a solid revenue growth rate of approximately 19.9%, demonstrating a significant increase in the company's top-line, which could contribute to stock price appreciation.