The latest trading session saw DraftKings (DKNG) ending at $35.69, denoting a +1.05% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a gain of 0.41% for the day. Meanwhile, the Dow gained 0.69%, and the Nasdaq, a tech-heavy index, added 0.8%.

The the stock of company has fallen by 7.05% in the past month, lagging the Consumer Discretionary sector's gain of 1.16% and the S&P 500's loss of 0.97%.

The investment community will be closely monitoring the performance of DraftKings in its forthcoming earnings report. The company is scheduled to release its earnings on November 7, 2024. On that day, DraftKings is projected to report earnings of -$0.42 per share, which would represent year-over-year growth of 31.15%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.12 billion, indicating a 41.45% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates project earnings of -$0.31 per share and a revenue of $5.17 billion, demonstrating changes of +82.08% and +41.18%, respectively, from the preceding year.

Investors should also take note of any recent adjustments to analyst estimates for DraftKings. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.36% upward. DraftKings presently features a Zacks Rank of #3 (Hold).

The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 40% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.