Let's take a look at a DraftKings stock forecast and find out. For convenience, prices are divided by color. There are possibilities of a technical pullback; however, it is advised to wait before confirmation of a trend reversal is in place. DraftKings reported a better-than-expected quarter with a loss of 26 cents per share and revenue of $298 million, which is a 320% rise. Copyright In November 2021, the federal court made a ruling that puts an end to sports betting legalization. A company with a weak moat has a broken business model. Shares of online betting company DraftKings (NASDAQ:DKNG) have pulled back with brick-and-mortar casinos making a comeback and short-sellers targeting DKNG stock. }. DraftKings is one of the largest operators of fantasy sports services. Opinions on the stock are mixed, with 2 analysts rating it as a "buy," 0 as "overweight," 6 as "hold," and 2 as "sell.". For investors considering high-growth stocks such as DraftKings, now is apparently not the time to be taking on extra risk. Buy DKNG stock before third-quarter results. Any sort of adjustment to a growth stock such as DKNG higher is bullish for investors over the near term. Copyright 2023 InvestorPlace Media, LLC. Thats because valuation isnt based on a metric or two in a given way. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. This is proof that the company confidently expects higher user growth and revenue generation in the coming quarter. Article printed from InvestorPlace Media, https://investorplace.com/2022/01/why-dkng-stock-is-out-of-favor-despite-its-strong-prospects/. Theres even room for more lines. Join us as we find out what lies ahead for this sports betting company, undertake a DraftKings share price forecast and get analyst insights on DraftKings stock potential. Your current $100 investment may be up to $1189.67 in 2028. For the year ended Dec. 31, 2022, DraftKings reported revenue of $2.2 billion, which represented 69% growth year over year. The average price predicted for Yamana Gold Inc. (AUY) by analysts is $6.27, which is $0.99 above the current market price. Dont forget that DraftKings has a solid iGaming business where that is available: it has solid market share in New Jersey, for instance. Despite the pandemic, DraftKings has seen increases in its user numbers and its market share. 2023 InvestorPlace Media, LLC. The material provided on this website is for information purposes only and should not be understood as an investment advice. Based on our forecasts, a long-term increase is expected, the "NSAV" stock price prognosis for 2028-01-26 is 0.0345 USD. DKNG stock hardly is cheap: it trades at more than 30x 2020 revenue. She is also involved in the design and development of sports betting and casino gaming platform software for online and retail bookmakers, as well as casino gaming products. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. The final quotes of the instrument at the close of the previous trading day are a signal to adjust the forecasts for DraftKings shares. In 2020, DraftKings (NASDAQ:DKNG) stock rose a sizzling 335%. 1125 N. Charles St, Baltimore, MD 21201. It still has plenty of growth in existing markets as users come on board. Forecast prices include: Optimistic Forecast, Pessimistic Forecast, DKNG share price has been in a bear cycle for the past year. DKNG - Company Profile for DRAFTKINGS INC. - MSN Money Choose a language United States (English) - en United States (espaol) - es +0.05 +0.37% After Hours : 13.89 +0.16 +1.17% July 28, 2022. The deal will help increase revenue and attract new users to DraftKings. Right now, no triggers for any actions.. So what we have here is a company with one of the better growth opportunities in the entire market. Sign up below to get this incredible offer! FAQ. The story is the same as it was when DKNG was rallying last month and last year. All rights reserved. I expect that will change in short order, at which point DKNG will resume its rally. Are you interested in DraftKings Inc. stocks and want to buy them, or are they already in your portfolio? The company has made several acquisitions over the year and is constantly growing its presence across different states. Optimistic: $23.78, An uptrend is forecast for this month with an optimal target price of $22.4839. In multiple states, voters passed referendums legalizing sports betting in November. By 2025, the sports betting industry is projected to be worth $15 billion. 5 Penny Cryptos With the Most Potential for Growth, 3 Cream-of-the-Crop Growth Stocks to Buy for 2023, Michael Burry Is Betting Big on These 2 AI Stocks, DraftKings Stock Should Rise By 34% Based on Revenue Projections. Stock Price Forecast The 3 analysts offering 12-month price forecasts for Tattooed Chef Inc have a median target of 2.00, with a high estimate of 3.00 and a low estimate of 1.50. Note that analysts predictions are often wrong. The successful prediction of DraftKings' future price could yield a significant profit. The average price predicted for Banco Santander S.A. (SAN) by analysts is $4.82, The public float for SAN is 16.55B, and at present, short sellers hold a 0.05% of that float. On the date of publication, Chris Lau did not have (either directly or indirectly) any positions in the securities mentioned in this article. The monthly unique players increased by 281% to 1.1 million and the average revenue per monthly unique player hit $80, which is up 26% year-over-year (YOY). 222 Berkeley Street, Boston, MA, 02116, United States. In a 9 August 2021 press release, DraftKings announced that it would acquire and leverage Golden Nugget Online Gamings popular brand name and existing combined database of more than five million customers. In fact, when combining a Zacks Rank #3 or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time, while they also saw 28.3% annual returns on average, according . But DKNG stock actually has suffered. As iGaming picks up steam, so too will DKNG stock. 1125 N. Charles St, Baltimore, MD 21201. Dunne scored a 9.825 on bars as LSU topped the Crimson Tide on Friday and then teamed up with fellow social media influencer Katie Sigmond for a brief five-second clip that has already surpassed 4 . Pessimistic: $21.62. The difference between trading assets and CFDs. The legalization of online betting has transformed the fortunes DKNG stock, and the company expanded its revenue by more than 70%. Investors now can own that story at a cheaper price. Therefore, look to make at least 34% on DKNG stock as it moves closer to its inherent value of $73 per share. Copyright Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. And it shouldnt be profitable, either. He argues that sports bettingcould reach $15 billion in 2025, up from $3 billion in 2020. In Florida, the launch of legalized sports betting stalled. Ark Investments Cathie Wood is a fan of DKNG stock and has bought it time and again. According toPRNewswire, the online sports betting industry will go from $9.5 billion in 2020 to $37 billion in 2025. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Right from the comfort of your home, you can engage in a game and socialize with your friends. The stock is clearly undervalued considering the market and the ability of the company to generate revenues. 1125 N. Charles St, Baltimore, MD 21201. On 5 November 2021, DraftKings released its Q3 2021 financial results. Moreover, given that estimates for 2021 are for $1.17 billion, this implies a 4-year growth rate of 205.9%. Leidos's latest twelve months net income to stockholders (cont. 1125 N. Charles St, Baltimore, MD 21201. 2023 InvestorPlace Media, LLC. Whats happening now is a land grab for users. DraftKings Inc., Tesla, H&R Block, Inc., among others, are approaching price targets. That is the reason why I dont feel right now that is important to discount the future sales and EBITDA to the present. The company distributes its product offerings through a variety of channels, including traditional websites, direct app downloads, and direct-to-consumer digital platforms. P/E ratio (price to earnings) - shows the ratio between the price of a share and the company's profit. Pessimistic: $17.34. The 30 Wall Street analysts offering DRAFTKINGS INC - CL A stock forecast in the last 6 months have average price target of $20.43 with a high forecast of $28.0 and a low forecast of $12.0. The fair value of DKNG stock is scaring away investors, but this could create opportunities. One of the most exciting planned acquisitions is Golden Nugget Online(NASDAQ:GNOG). Investors need not fear Chanos assertions. Chris has over 20 years of investing experience in the stock market and runs the Do-It-Yourself Value Investing Marketplace on Seeking Alpha. The bad news for shareholders is that insiders sold more shares in the last 12 months than they bought. Its difficult to see why. DraftKings company info Forecasting 52 Week High: 19.5476 USD 52 Week Low: 0.00000000000101 USD Copyright 2023 InvestorPlace Media, LLC. Pessimistic: $17.34. "isTransparent": true, Plugging in those figures in a five-year discounted cash flow EBITDA Exit model, DKNG shares are worth around $11: The stocks fair value will rise considerably if readers assume a positive EBITDA sooner than the fiscal year 2022. Aiming to build a platform and customer-centric destination for exclusive betting experiences, DraftKings transformed how fans engage with sports, offering a sports entertainment experience across several popular games. Just a potential class action/investigation for Hindenburg hit piece This is a clear sign that DraftKings is attracting users with its unique marketing strategies and its revenue is only trending upward. Next, in my model, I assume that the companys profitability will increase to about 50% EBITDA (earnings before interest, taxes, depreciation, and amortization) margins. When it reports results next quarter, investors should look at the companys operating margins closely. DraftKings DKNG is set to report third-quarter 2021 results on Nov 5.The Zacks Consensus Estimate for revenues is pegged at $224.9 million, indicating an increase of 69.3% from the year-ago period . 2023 - 2027? multiplying the number of shares in the company outstanding by the market price of one share. Today, it is one of the top players in the massive sports betting industry. Mark Hake writes about personal finance on mrhake.medium.com and runs the Total Yield Value Guidewhich you can reviewhere. Keep in mind that DKNG stock is well off of its highs. I still believe that the upper end of the target is very possible. Optimistic: $20.20 DraftKings Stock Prediction for Apr 2023 DraftKings (DKNG) stock Forecast for 2022 2026, This website uses cookies to ensure you get the best experience on our website. On the date of publication, Vandita Jadeja did not have (either directly or indirectly) any positions in the securities mentioned in this article. Losses were -$1.38 billion, -9.53% less than in 2021. Draftkings has been making some interesting acquisitions lately including the recent deal to acquire Golden Nugget Online Gaming in an all-stock deal valued at approximately $1.56 billion, which will eventually allow the company to move into the lucrative Nevada sports wagering market. I am confident that the new DraftKings will progress our goal of offering the best, most innovative sports and gaming products to our customers., The stock remains deeply oversold and in a strong secular decline. In addition, I dont think that it matters that much that the estimates I am using relate to 2025. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/dkng-stock-should-rise-by-34-based-on-revenue-projections/. Online gambling app DraftKings (NASDAQ:DKNG) has certainly had an excellent year. With his next-generation approach to investing, Luke Lango finds better stocks for you to invest in not the same old companies over-hyped on Wall Street. On the date of publication, Mark R. Hake did not hold a position in any security mentioned in this article. Join the 500.000+ traders worldwide that chose to trade with Capital.com, Also you can contact us: Q3 2021 results revealed an overall $150m, or 37.97%, decrease in the companys bottom-line numbers, with net loss having increased from $395m in Q3 2020 to $545m. What You Should Know. Copyright DraftKings (DKNG) stock forecast for 2022 Last update: February 21, 2023 (05:59) Sector: Financial The share price of DraftKings Inc. (DKNG) now DKNG DraftKings Inc. 18.19 D 4.46% (0.85) What analysts predict: $20.78 52-week High/Low: $25.01 / $9.77 50/200 Day Moving Average: $13.99 / $14.51 On the app store, Oregon Lottery will replace the Scoreboard app with DraftKings Sportsbook. Investors are compensated by holding a firm belief that it is a leader in the betting field. If yes, then on this page you will find useful information about the dynamics of the DraftKings $14.51 / $14.65. The benefits from its expansion strategies remain to be seen. The company is not only offering an exciting experience to the users, but is also working on building alternative sources of revenue. In the same report you can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12-24 months. Optimistic: $20.56, An uptrend is forecast for this month with an optimal target price of $19.8683. On 26 January 2021, DKNG stock closed at $54.06. DraftKings Inc. (DKNG) Analyst Ratings, Estimates & Forecasts - Yahoo Finance U.S. markets open in 3 hours 9 minutes S&P Futures 3,943.75 -12.75(-.32%) Dow Futures 32,765.00 +72.00(+0.22%). The softer performance this year doesnt seem to make much sense. DraftKings is expected to announce Q3 earnings on November 5th, 2021. Indeed, the fact that DraftKings is gaining market share much faster than its peers is a key catalyst for this price target hike. DraftKings told investors on Friday that it expected to reach profitability by one financial measure in late 2023. As a result of strong engagement and cross-selling initiatives, average revenue per MUP (ARPMUP) increased by 38.23%, from $34 to $47. The market is getting competitive, and new markets will allow DraftKings to cement its authority and expand its revenue base to new heights. DKNG stock was up close to 1% when markets. Our 3 Top Picks. Moreover, I now believe that that the market is clearly valuing the stock based on its 2025 forecast revenue numbers. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. In short-term stock is facing big hurdles around 23 and 23.5 and there is possibility of major pull-back around the resistance zone. In fact, DKNG ran from about $15.50 to just above $21 at the start of the tournament. Still, DraftKings heavy advertising spending is temporary. demicshowering cash on hasn't had to lay off workers. Therefore, assuming 50% margins, EBITDA will reach $1.79 billion by 2025. Additionally, Loop Capital believes DraftKings relationship with the NFL could be a massive catalyst. Milan Vaishnav, CMT, MSTA, a Consulting Technical Analyst at Gemstone Equity Research & Advisory, shared a technical analysis of the DKNG share market: Based on the data compiled by Market Beat, as of 26 January 2022, of 26 analysts, 17 rated DKNG stock a buy, eight suggested a hold and one recommended a sell. Optimistic: $20.20, An uptrend is forecast for this month with an optimal target price of $19.695. The one-month trend of DKNG stock has the share prices remaining in the middle of the volatility range, before rising above the 20-day moving average in the weeks before earnings. And DraftKings long-term opportunity is as good as anyone. At its core, my model depends on a report by Morgan Stanley analyst Thomas Allen. What Is the Best EV Stock to Buy Now? And sports betting taxes are a logical source of that revenue. After marking a high of 74, it made a lower high of 64. But its equity market cap is $21.49 billion. Nasdaq CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS . Since then, as of June 9, it is now at $54.35. 5 Penny Cryptos With the Most Potential for Growth, 3 Cream-of-the-Crop Growth Stocks to Buy for 2023, Michael Burry Is Betting Big on These 2 AI Stocks, DraftKings Has Monstrous Potentialin the Future of Sports Betting. DKNG stock returns are also predicted based on historical data. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Copyright 2023 InvestorPlace Media, LLC. It indicated that sales for 2021 will be in the range of $1.21 billion to $1.29 billion. Stock Price Forecast The 2 analysts offering 12-month price forecasts for Rekor Systems Inc have a median target of 3.50, with a high estimate of 4.00 and a low estimate of 3.00. These are two of many partnerships the company has formed to increase growth. Thats why DKNG stock and other sports betting names rose in 2020: investors believed the pandemic would lead to faster, broader legalization. Her knowledge of words and numbers helps her write clear stock analysis. High 56F. In late summer 2021, DraftKings (NASDAQ: DKNG) rebounded to more than $60 and looked ready to find a new high. With March Madness just days away, keep an eye on gambling stocks. Nasdaq DKNG stock returns are also predicted based on historical data. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. Optimistic: $22.82, An uptrend is forecast for this month with an optimal target price of $22.6105. The stock is above fair value at current levels. The company is one of the biggest players in the sports betting industry. All rights reserved. In Q3 2020, it was $1.02m. The company still risks losing customers to competitors. When looking for a long-term forecast, its important to bear in mind that analysts forecasts and price targets can be wrong. Northland adjusted its price target to $45 from $75, but kept its outperform rating, as of 21 January 2022. moreover, are not trading signals. If you continue to use this site we will assume that you are happy with it. New states will follow. Optimistic: $21.43, An uptrend is forecast for this month with an optimal target price of $21.0369. 5 Penny Cryptos With the Most Potential for Growth, 3 Cream-of-the-Crop Growth Stocks to Buy for 2023, Michael Burry Is Betting Big on These 2 AI Stocks, Buy the Dip In DraftKings For Its Incredible Growth Outlook. Sign up below to get this incredible offer! Moreover, its not as if theres any bad news driving the pullback. Shareholders will need to wait for the Board to review and approve DraftKings gaming license. What Is the Best EV Stock to Buy Now? During pandemic-induced global lockdowns, the popularity of online gaming and betting soared. At one point, the platforms most popular sport was Ukrainian table tennis. Algorithm-based forecasting service Wallet Investor, which usually provides 5-year price targets for stocks, does not offer a DraftKings stock prediction beyond February 2024. DraftKings stock prediction results are shown below and presented in the form of graphs, tables and text information, divided into time intervals. Fortunately, DraftKings has a strong brand name that consumers recognize. What Is the Best EV Stock to Buy Now? The irony is that precisely the same case is playing out again. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. On the date of publication, Vandita Jadeja did not have (either directly or indirectly) any positions in the securities mentioned in this article. { Nasdaq The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. The broader pullback in growth stocks is a major reason for the drop. worth $1.56 billion. If DKNG breaks this level, then support will drop to $15 and $11 . Customers will get a better online sportsbook experience. Shares of the Boston-based company sank as much as 19% in New York, their biggest drop since March 2020. After all, right now the stock has a huge price-to-sales ratio. Forecasts shouldn't be used as a substitute for your own research. Additionally, it also launches social media features on its platform, enabling customers to interact and share their bets effectively. DraftKings (Nasdaq: DKNG) Stock Forecast We'll start with an explainer about what does DraftKings does. DKNG top 20 large caps. Importantly, its cash burn was US$425m over the trailing twelve months.. The company defines MUPs as users who have paid engagement across one or more product offerings. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. DKNG U.S.: Nasdaq DraftKings Inc. Watch list Create DKNG Alert Open Last Updated: Jan 24, 2023 at 12:18 p.m. EST Real time quote $ 14.84 0.28 1.92% Previous Close $14.56 Advanced Charting. With the help of SBTech, DraftKings has been able to vertically integrate its business by owning its own technology platform for its primary product offering of sports entertainment and betting. While gambling predictions from the AGA aren't out just yet, we expect to see similar numbers. The average of price targets set by Wall Street analysts indicates a potential upside of 27.7% in DraftKings (DKNG). The entire focus for traders interested in DKNG is $17.41. Its down from $71.98 on March 19 to $54.35. He shares his stock picks so readers get original insight that helps improve investment returns. In the most bullish scenario, readers may assume revenue will grow 60% to 80% over the next five years. Close price at the end of the last trading day (Friday, 17th Feb 2023) of the DKNG stock was $20.54. Pessimistic: $18.16. For those of you just seeing this! During that time there have been over 4000 blog posts made with over 10,000 charts on the markets and nearly 15 million page . 5 Hypergrowth Stocks With 10X Potential in 2023, an adjusted EBITDA loss of $139.3 million on revenues of $312.7 million, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Look at software or e-commerce: most of the biggest winners in those sectors had skeptics hollering about valuation all the way up. All rights reserved. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff, Michael Burry Is Betting Big on These 2 AI Stocks. It uses the current share price and divides it by the total earnings per share for the last 12 months. When should I take profit in DraftKings stock? The Companys registered office is at Bahamas Financial Centre, 3rd Floor, Shirley and Charlotte Street, P.O. 2023 InvestorPlace Media, LLC. Pessimistic: $18.40. The company recently released Q2 earnings and it easily beat analyst forecasts. As you can see, my estimate of its value reflects a return to its previous highs. DraftKings and Penn National Gamings (NASDAQ:PENN) Barstool Sports are seeking petition signers to support adding sports betting to the Florida ballot. Famed short-seller Jim Chanos disclosed his bet against the companys stock, and Chief Executive Officer Jason Robins questioned his concerns on valuations. Within a week from the third quarter financial results being made public, the DKNG stock price had fallen by 7.12%. The third-quarter results may take the stock higher to the $50s. Its aggressive promotional activities will solidify its market share growth in sports betting. "locale": "en" This massive increase was primarily driven by state launches in Virginia and Michigan. Capital Com is an execution-only service provider. On March 02, 2023, the average . On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. Growth of 61.36% was reported with revenues up by $81m. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. On the date of publication, Vandita Jadejadid not have (either directly or indirectly) any positions in the securities mentioned in this article. 1125 N. Charles St, Baltimore, MD 21201. If this momentum continues, its certainly possible DraftKings could post some blowout quarters. Loop Capital believes the fact that DraftKings has become the No. It appears the annual fall selloff has come early this year. Great Panther Mining's latest twelve months diluted eps (cont. The report alleges that the business has done business in Iran and has been involved in illegal gambling activity. The investor bet against Tesla (NASDAQ:TSLA), saying in December 2017 that the stock was worth zero. After all, major sports shut down last year amid the novel coronavirus pandemic. Shed 149,695 shares,. She believes in buying and holding for long term gains. Sign up below to get this incredible offer! The sports betting industry is massive, DraftKings is in a growth stage and there is huge potential to expand. This implies that DKNG stock is now worth about $73 per share, or 34% above todays price. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. DraftKings (DKNG) (Delayed Data from NSDQ) $18.86 USD +0.06 (0.32%) Updated Feb 28, 2023 04:00 PM ET After-Market: $18.69 -0.17 (-0.90%) 7:58 PM ET Add to portfolio Zacks Rank: 2-Buy 2 Style.
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