DraftKings is the undisputed king of gaming, with a fantasy sports market share of roughly 30% in the U.S. market. Is DKNG a good long term stock? If yes, then on this page you will find useful information about the dynamics of the DKNG stock price in 2022-2027. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. DKNG stock hit all time high earlier in March. The stock is clearly undervalued considering the market and the ability of the company to generate revenues. The company recently acquired Golden Nugget (NASDAQ:GNOG), an online gambling service, for an all-stock transaction worth $1.56 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. , the online sports betting industry will go from $9.5 billion in 2020 to $37 billion in 2025. The stocks are grouped by market cap, from micro to mega-caps, for a total of 100 stocks (out of a universe of over 3,000 stocks). However, the online sportsbook market is in its infancy at this stage. Article printed from InvestorPlace Media, https://investorplace.com/2021/09/draftkings-price-predictions-why-one-analyst-sees-dkng-stock-headed-to-105/. The company made the most of the pandemic and built strong partnerships to build a path for future growth. The report alleges that the business has done business in Iran and has been involved in illegal gambling activity. So far, they have performed incredibly well and are on track to ensure that the company becomes a one-stop-shop platform for an online gaming. I estimate DraftKings will have at least $2 billion in cash by 2025 from profitability and further warrant issues. Therefore, investors should take the report with a grain of salt, and it should not deter them from DKNG stocks bull case. It is calculated by the formula The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com, 5 Hypergrowth Stocks With 10X Potential in 2023, 7 Retail Stocks to Buy Regardless of Supply Shortages, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. "isTransparent": true, We use cookies to ensure that we give you the best experience on our website. In Q3 2020, it was $1.02m. Our 3 Top Picks. Further, it has announced a multi-year deal with Genius Sports (NYSE:GENI), a National Football League (NFL) data provider. Counted STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10K/A Fill & Sign Online, Print, Email, Fax, or Download . New state launches will continue playing a major role in sustaining its lofty growth numbers in the future. While the effectiveness of this highly sought-after metric is questionable,. It cannot rely on rising advertising spending to grow. The material provided on this website is for information purposes only and should not be understood as an investment advice. All rights reserved. 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. What Is the Best EV Stock to Buy Now? Sign up below to get this incredible offer! The benefits from its expansion strategies remain to be seen. Its average monthly unique payers (MUP) for its B2C segment jumped 44% versus the prior year to 1.5 million, reflecting strong unique payer retention and acquisition across DFS, OSB and iGaming. 1125 N. Charles St, Baltimore, MD 21201. For DraftKings stocks, the 200-day moving average is the support level today. quotes delayed at least 15 minutes, all others at least 20 minutes. Its down from $71.98 on March 19 to $54.35. If this momentum continues, its certainly possible DraftKings could post some blowout quarters. Moreover, I now believe that that the market is clearly valuing the stock based on its 2025 forecast revenue numbers. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. Conversely, DraftKings may post ongoing losses and a break-even quarter starting next year. For example, in its latest quarter (Q1), DraftKings had an adjusted EBITDA loss of $139.3 million on revenues of $312.7 million. 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. 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. 1125 N. Charles St, Baltimore, MD 21201. If yes, then on this page you will find useful information about the dynamics of the DraftKings DraftKings has solid potential in the industry and it could become one of the top players by 2023. 2023 InvestorPlace Media, LLC. Forecast prices include: Optimistic Forecast, Pessimistic Forecast, Sign up below to get this incredible offer! The deal will help increase revenue and attract new users to DraftKings. Chris has over 20 years of investing experience in the stock market and runs the Do-It-Yourself Value Investing Marketplace on Seeking Alpha. What are analysts forecasts for DKNG stock? 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). All forecast data on the site are provided for informational purposes of using neural forecasting tools in the financial market and are not a call to action and, From Q3 2020 to Q3 2021, MUPs grew by approximately 31.37%. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. However, those concerns are simply a diversion from the companys long-term bull case. The company is not only offering an exciting experience to the users, but is also working on building alternative sources of revenue. Eventually, the negative sentiment will reverse. The company distributes its product offerings through a variety of channels, including traditional websites, direct app downloads, and direct-to-consumer digital platforms. Copyright This is massive growth and DraftKings will play a major role here. After all, major sports shut down last year amid the novel coronavirus pandemic. 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 . Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Wood's flagship Ark Innovation ETF has slid 43% during the past year, but has rebounded 23% so far this year. What are analysts' forecasts for DraftKings stock? But its equity market cap is $21.49 billion. Still, DraftKings heavy advertising spending is temporary. The broader pullback in growth stocks is a major reason for the drop. With more states legalizing sports betting, the company has grown significantly. When should I take profit in DraftKings stock? Additionally, it also launches social media features on its platform, enabling customers to interact and share their bets effectively. DraftKings has such a small amount of debt that we'll set it aside and focus on the US$2.6b in cash it held in June 2021. 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 . Yet here in 2021, the market seems to have forgotten that 2020 case. According to its forecast, as of 27 January 2022, the DraftKings future stock price could potentially decline to 0.000001 by March 2023. 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. Theres even room for more lines. Trailing P/E depends on what has already been done. 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. Within a week from the third quarter financial results being made public, the DKNG stock price had fallen by 7.12%. Her knowledge of words and numbers helps her write clear stock analysis. Thats a logical strategy. and Weighted Average Best Forecast. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. P/E ratio (price to earnings) - shows the ratio between the price of a share and the company's profit. On the date of publication, Mark R. Hake did not hold a position in any security mentioned in this article. Shed 149,695 shares,. 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. Mark Hake writes about personal finance on mrhake.medium.com and runs the Total Yield Value Guidewhich you can reviewhere. DraftKings stock prediction results are shown below and presented in the form of graphs, tables and text information, divided into time intervals. Whats happening now is a land grab for users. In November 2021, the federal court made a ruling that puts an end to sports betting legalization. EBITDA is earnings before interest, income tax and depreciation of assets. The current analyst price target consensus has an upside of 151.05%, based on the last closing price of $19.32 as of 26 January 2022. In the quarters ahead, DraftKings needs to demonstrate sustained revenue growth as operating expenses declined. DraftKings Stock Should Rise By 34% Based on Revenue Projections By 2025, the sports betting industry is projected to be worth $15 billion By Mark R. Hake, CFA Jun 9, 2021, 2:57 pm EST Last. Here are the top 20 stocks that have the highest upside according to Wall Street analysts. Here's one analyst price target investors in DraftKings may want to pay attention to. The stock will go higher in the coming months and this dip is a good chance to enter. Pessimistic: $21.05. DraftKings has increased the full-year revenue target to $1.21 to $1.29 billion, which would be up to 100% YOY growth. Dont forget that DraftKings has a solid iGaming business where that is available: it has solid market share in New Jersey, for instance. 1125 N. Charles St, Baltimore, MD 21201. And it shouldnt be profitable, either. Pessimistic: $19.23. On the date of publication, Vandita Jadejadid not have (either directly or indirectly) any positions in the securities mentioned in this article. Are you interested in DraftKings Inc. stocks and want to buy them, or are they already in your portfolio? $14.51 / $14.65. With this multi-year sports data agreement, DraftKings will get access to a full portfolio of sports data and content, including official NFL data. On average, analysts forecast that TTCF's EPS will be -$0.39 for 2023 . For now, Chanos is right that the excessive valuation will lead to a drop. On a compounded basis, that works out to 32.2% average annual growth in sales. All rights reserved. It has become a huge hit with sports fanatics. Any sort of adjustment to a growth stock such as DKNG higher is bullish for investors over the near term. Lorem ipsum dolor sit amet, consectetur adipiscing elit. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS . The deal will help increase revenue and attract new users to DraftKings. Click here to see what Matt has up his sleeve now. Article printed from InvestorPlace Media, https://investorplace.com/moneywire/2021/04/bigger-market-cheaper-price-make-dkng-stock-buy/. DKNG (DKNG) Monthly Stock Prediction for 2023 Full forecast for 2023 DraftKings forecast for this year DraftKings Stock Prediction for Mar 2023 An uptrend is forecast for this month with an optimal target price of $ 18.9448. Interestingly, the company has enough cash to expand the market through acquisitions and it is walking on the right path. Investors are losing patience waiting for DraftKings to win approval for operating sportsbook operations. The rest of this article will explain how I value DKNG stock, so you can have a simple understanding of my working model. "symbol": "NASDAQ:DKNG", DKNG stock hardly is cheap: it trades at more than 30x 2020 revenue. Lets dive into the analyst that just gave DKNG stock a big upgrade today. 1125 N. Charles St, Baltimore, MD 21201. I have my hopes pinned on this partnership which will help expand the company. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/dkng-stock-should-rise-by-34-based-on-revenue-projections/. Theres even room for more lines. Right from the comfort of your home, you can engage in a game and socialize with your friends. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. quotes delayed at least 15 minutes, all others at least 20 minutes. Copyright 2023 InvestorPlace Media, LLC. DKNG Forecast. Ops) Growth trends, charts, and more. 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. 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. Over the past. The average of price targets set by Wall Street analysts indicates a potential upside of 27.7% in DraftKings (DKNG). DraftKings Inc., Tesla, H&R Block, Inc., among others, are approaching price targets. Look at software or e-commerce: most of the biggest winners in those sectors had skeptics hollering about valuation all the way up. 2023 InvestorPlace Media, LLC. For DraftKings stocks, the 50-day moving average is the support level today. That gives it an equity market value of $28.85 billion, or 34.2% ahead of todays price. moreover, are not trading signals. DraftK ings Inc. headquartered in Boston, Massachusetts. on IMF Forecasts a Sunnier 2023 for Global Economy us , l. How much will one DraftKings share be worth in DraftKings is now available in 12 states after its blockbuster launch in Virginia and Michigan. All rights reserved. Its a strategy that many other growth companies in many other markets have followed successfully in recent years. 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. LSU gymnast Olivia Dunne ended last week on a high note as she helped the Tigers to a victory over Alabama in her first appearance of the season and Tuesday introduced the "newest recruit.". The company spent around $1.56bn in acquiring Golden Nugget. All rights reserved. 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 quotes delayed at least 15 minutes, all others at least 20 minutes. quotes delayed at least 15 minutes, all others at least 20 minutes. Theres a simple reason why DKNG and other sports betting stocks rallied in 2020. Investors now can own that story at a cheaper price. A recently updated price target from Loop Capital for DKNG stock of $105 implies upside of approximately 85% from current levels. A day after this was announced, the stock lost 0.72%. 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. Others, like California, need to work through a nest of competing interests. Northland adjusted its price target to $45 from $75, but kept its outperform rating, as of 21 January 2022. For those of you just seeing this! Pessimistic: $18.40. stock price in 2023, 2024, 2025, 2026, 2027. At one point, the platforms most popular sport was Ukrainian table tennis. According toPRNewswire, the online sports betting industry will go from $9.5 billion in 2020 to $37 billion in 2025. In late summer 2021, DraftKings (NASDAQ:DKNG) rebounded to more than $60 and looked ready to find a new high. That is not normal. EPS shows how much of the net profit is accounted for by the common share. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. quotes delayed at least 15 minutes, all others at least 20 minutes. Key support is seen around 15.15 which is expected to be maintained throughout the first half of 2023. Our 3 Top Picks. Thats exactly what is happening. This achievement will complement the companys goal of building a top-rated online sportsbook. Chris Lauis acontributing author for InvestorPlace.com and numerous other financial sites. Shares still are below early October highs. 1125 N. Charles St, Baltimore, MD 21201. Meanwhile, costs rose as the pandemic drove higher spending in a number of areas. As a result of strong engagement and cross-selling initiatives, average revenue per MUP (ARPMUP) increased by 38.23%, from $34 to $47. The consensus 12-month DraftKings stock price target is $56.13. While DraftKings still operates at a loss, the company's cash burn is . Source: Lori. It continues to push forward in the gaming market, opening up in new markets and offering a more well-rounded experience for its users. DKNG stock pulled back despite its stellar performance and growth outlook By Muslim Farooque, InvestorPlace Contributor Jul 20, 2021, 6:15 am EST Shares of online betting company DraftKings. Sign up below to get this incredible offer! multiplying the number of shares in the company outstanding by the market price of one share. During pandemic-induced global lockdowns, the popularity of online gaming and betting soared. DraftKings (DKNG) Surges Post Earnings: ETFs in Focus Feb. 21, 2023 at 1:00 p.m. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. Growth of 61.36% was reported with revenues up by $81m. On the date of publication, neither Matt McCall nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in the article. The company has already made impressive acquisitions and deals over the past year, and it does not appear ready to slow down anytime soon. It will also help reduce the losses of DraftKings as Golden Nugget is a solid, revenue-generating company. DraftKings has a strong leadership team that is extremely passionate about taking the company to the next level. That includes DraftKings (DKNG), which just caught double bottom support around $18 - and could see higher highs. When the Hindenburg Research report hit the stock, her ETFs picked up a total of about 870,300 shares of DKNG stock, reports Seeking Alpha. This happens once a day. The median. This is a clear sign that DraftKings is attracting users with its unique marketing strategies and its revenue is only trending upward. The story is the same as it was when DKNG was rallying last month and last year. The company defines MUPs as users who have paid engagement across one or more product offerings. DKNG Historical Ratings and Targets. On the app store, Oregon Lottery will replace the Scoreboard app with DraftKings Sportsbook. 04:03 PM ET 08/06/2021 Online gambling app DraftKings ( DKNG) reported better-than-expected loss and revenue figures, though user growth fell short. On 25 January 2022, Moffett Nathanson slashed its DraftKings stock projection target from $36 to $25, but maintained its neutral rating. By bringing together our leading consumer brand, data science expertise and industry-leading products with SBTechs proven technology platform, we will accelerate our innovation, growth and scale. The stock is above fair value at current levels. Over the past year, it has become difficult to argue the bull case for Lucid Motors (NASDAQ:LCID). Shares of the Boston-based company sank as much as 19% in New York, their biggest drop since March 2020. Market capitalization is the total market value of all issued shares of a company. Here Are 10 Other Analyst Forecasts For Tuesday Feb. 21, 2023 at. When looking for a long-term forecast, its important to bear in mind that analysts forecasts and price targets can be wrong. 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. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. With March Madness just days away, keep an eye on gambling stocks. Will DKNG stock price go up? 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. Since then, as of June 9, it is now at $54.35. quotes delayed at least 15 minutes, all others at least 20 minutes. It is already an official sports betting partner of the NFL, which can boost its profile and help DraftKings continue to expand. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. Pessimistic target level: 18.99. Within the next five years, I suspect that those expenses will fall as a percent of sales, allowing the company to start to reap 50% EBITDA margins. Capital Com is an execution-only service provider. . Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 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. The point is that it was undervalued and likely to rise. losed Joint Stock Company FinTech Solutions, Future price predictions and analyst forecasts. DKNG stock can reach $70 as the company makes all the right moves. Optimistic: $20.20 DraftKings Stock Prediction for Apr 2023 Ops) Growth trends, charts, and more. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If the company manages to report higher average revenue per user, it will be a game-changing development. Accordingly, investors in risk assets appear to be rethinking their positions today. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Detailed values for the DraftKings stock price can be found in the table below. But this result reflected marketing expenses of $228.7 million, or 73.2% of sales. The company is one of the biggest players in the sports betting industry. DKNG stock pulled back despite its stellar performance and growth outlook. Sports betting has. Right now, no triggers for any actions.. All rights reserved. 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 Is Set for Growth With Strong Q2 Results and Partnerships. Future price predictions and analyst forecasts 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. In 2020, DraftKings (NASDAQ: DKNG) stock rose a sizzling 335%. By 2025, the sports betting industry is projected to be worth $15 billion. Be that as it may, short sellers typically have vested interests in spreading such news. After marking a high of 74, it made a lower high of 64. Right now, the stock is oversold, but there are no triggers that would signal a fresh entry. 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. DraftKings reported revenues of $312 million, representing year-over-year growth of 175%. Join the 500.000+ traders worldwide that chose to trade with Capital.com, Also you can contact us: The average price target represents a 23.04% change from the last price of $18.58. Dividend yield is a ratio that shows how much a company pays in dividends each year at the stock price. What is TTCF's Earnings Per Share (EPS) forecast for 2023-2024? Hello and Welcome to PUG Stock Market Analysis. DKNG Stock Down Despite Impressive Price Target Currently, DKNG trades at roughly $56 per share. Theres even room for international expansion over time, as DraftKings has offices in Europe as well. I expect that will change in short order, at which point DKNG will resume its rally. All rights reserved. The weighted average target price per DraftKings share in May 2025 is: 19.84. Article printed from InvestorPlace Media, https://investorplace.com/2021/07/buy-the-dip-in-dkng-stock-for-its-incredible-growth-outlook/. Despite the pandemic, DraftKings has seen increases in its user numbers and its market share. Pessimistic: $17.34. The difference between trading assets and CFDs. Investors need not fear Chanos assertions. Opinions on the stock are mixed, with 2 analysts rating it as a "buy," 0 as "overweight," 6 as "hold," and 2 as "sell.". Investors correctly took the long view. Let's take a look at a DraftKings stock forecast and find out. For convenience, prices are divided by color. The stock has been trading in the range of $40s for a month and I do not see a breakout point any time soon. Lorem ipsum dolor sit amet, consectetur adipiscing elit. However, that changes once the company turns profitable. On the date of publication, Vandita Jadeja did not have (either directly or indirectly) any positions in the securities mentioned in this article. Despite the fact that DKNG stock's price has bottomed, the path toward higher levels seem to be challenging. (Next month, 2023, 2024, 2025, 2026 and 2027) The entire focus for traders interested in DKNG is $17.41. He argues that sports bettingcould reach $15 billion in 2025, up from $3 billion in 2020. Compared to $213m in revenues for the three months to 30 September 2021, Q3 2020 revenues were at $132m. The irony is that precisely the same case is playing out again. Is This the Best Way to Invest in the AI Gold Rush? I believe DKNG stock will certainly reach the all-time high again, but it may take some time.
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