DraftKings (DKNG) closed the latest trading day at $39.64, indicating a +0.9% change from the previous session's end. This move outpaced the S&P 500's daily gain of 0.28%. Elsewhere, the Dow saw an upswing of 0.15%, while the tech-heavy Nasdaq appreciated by 0.15%.

The the stock of company has risen by 8% in the past month, leading the Consumer Discretionary sector's gain of 3.2% and the S&P 500's gain of 2%.

The investment community will be closely monitoring the performance of DraftKings in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be -$0.43, reflecting a 29.51% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.11 billion, indicating a 40.68% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.31 per share and revenue of $5.16 billion, which would represent changes of +82.08% and +40.77%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for DraftKings. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.36% fall in the Zacks Consensus EPS estimate. At present, DraftKings boasts a Zacks Rank of #3 (Hold).

The Gaming industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 147, positioning it in the bottom 42% 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.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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