Wallet Investor is bearish on DraftKings stock value, restricting our scope to provide DraftKings stock outlook for 2025-2030. Pessimistic: $17.34. The pandaforecast.com portal is not responsible for the loss of your money in the stock market Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. DKNG stock is promising for the long term and has a massive user base. Sign up below to get this incredible offer! The company has a stronghold on the industry and is making the right moves with partnerships and acquisitions to ensure that it grabs maximum users. 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. DKNG Stock Down Despite Impressive Price Target Currently, DKNG trades at roughly $56 per share. An analysts DraftKings stock analysis is based on making fundamental and technical studies of the stocks performance. Some states wont want to see revenues head to neighboring jurisdictions. Copyright Let's take a look at a DraftKings stock forecast and find out. It will also help reduce the losses of DraftKings as Golden Nugget is a solid, revenue-generating company. As its business attracts customer growth, revenue will rise. 2023 InvestorPlace Media, LLC. The stock will go higher in the coming months and this dip is a good chance to enter. On March 02, 2023, the average . The average price predicted for Yamana Gold Inc. (AUY) by analysts is $6.27, which is $0.99 above the current market price. FAQ. After marking a high of 74, it made a lower high of 64. DKNG stock is a buy as it heads closer to $70. Copyright It continues to innovate and offer new unique features to improve the quality of its service. With this multi-year sports data agreement, DraftKings will get access to a full portfolio of sports data and content, including official NFL data. Financial Statements Analyst Forecast According to 40 analysts, the average rating for DKNG stock is "Buy." The market is getting competitive, and new markets will allow DraftKings to cement its authority and expand its revenue base to new heights. Theres a simple reason why DKNG and other sports betting stocks rallied in 2020. The average of price targets set by Wall Street analysts indicates a potential upside of 27.7% in DraftKings (DKNG). Lorem ipsum dolor sit amet, consectetur adipiscing elit. During pandemic-induced global lockdowns, the popularity of online gaming and betting soared. Poteau, OK (74953) Today. 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). Lets dive into the analyst that just gave DKNG stock a big upgrade today. Although the recent deal withEntain Plcdid not work out, DraftKings made several partnerships and acquisitions that will work in its favor. As a result of strong engagement and cross-selling initiatives, average revenue per MUP (ARPMUP) increased by 38.23%, from $34 to $47. DraftKings is expected to announce Q3 earnings on November 5th, 2021. Optimistic: $20.20 DraftKings Stock Prediction for Apr 2023 Close price at the end of the last trading day (Friday, 17th Feb 2023) of the DKNG stock was $20.54. Theres even room for more lines. Since then, the stock has lost 64.26% in value, reaching $20.33, at the time of writing (27 January 2022). Despite the impact of the pandemic which led to short seasons and canceled tournaments, online sports betting has been consistently growing. However, that changes once the company turns profitable. 2023 InvestorPlace Media, LLC. 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.". Sports betting has. The irony is that precisely the same case is playing out again. 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. For investors considering high-growth stocks such as DraftKings, now is apparently not the time to be taking on extra risk. All rights reserved. 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. It began the process for getting Nevada gaming licenses back on March 11, 2020. This is a clear sign that DraftKings is attracting users with its unique marketing strategies and its revenue is only trending upward. After all, major sports shut down last year amid the novel coronavirus pandemic. In late summer 2021, DraftKings (NASDAQ:DKNG) rebounded to more than $60 and looked ready to find a new high. This is the prior range low. 1125 N. Charles St, Baltimore, MD 21201. call +44 20 3097 8888 support@capital.com. The stock also ran briefly in 2021 and in 2020, as well. Wood's flagship Ark Innovation ETF has slid 43% during the past year, but has rebounded 23% so far this year. In May, the Positive dynamics for Momo shares will prevail with possible monthly volatility of 10.401% volatility is expected. Its about the long term. With strategic acquisitions and partnerships, DraftKings is putting its money in the right place. Accordingly, investors in risk assets appear to be rethinking their positions today. The company has made several acquisitions over the year and is constantly growing its presence across different states. This clearly implies that the market is valuing DKNG many years into the future based on its forecast revenue and profitability. It appears the annual fall selloff has come early this year. Investors need not fear Chanos assertions. I estimate DraftKings will have at least $2 billion in cash by 2025 from profitability and further warrant issues. DKNG stock was up close to 1% when markets. New states will follow. Compared to $213m in revenues for the three months to 30 September 2021, Q3 2020 revenues were at $132m. The firm may achieve that target if sports betting volumes grow in the year ahead. It has become a huge hit with sports fanatics. Copyright For DraftKings stocks, the 50-day moving average is the support level today. The majority of retail investor accounts lose money when trading CFDs. Bears may justify the ongoing losses as a reason to bet against the company. Nasdaq When looking for a long-term forecast, its important to bear in mind that analysts forecasts and price targets can be wrong. DraftKings reported a better-than-expected quarter with, Strategic Partnerships That Will Lead Growth. Your current $100 investment may be up to $1189.67 in 2028. Pessimistic: $21.43. According toPRNewswire, the online sports betting industry will go from $9.5 billion in 2020 to $37 billion in 2025. Considering the potential of the company and the industry to cater to, DKNG stock is well positioned at the current level. The company defines MUPs as users who have paid engagement across one or more product offerings. 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. Last year, according to the American Gaming Association, more than 45 million people planned to wager $3.1 billion on the games. Our 3 Top Picks. 1125 N. Charles St, Baltimore, MD 21201. 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. As the pandemic slowly changes how we engage with sports, DraftKings has a lot to look forward to. When using the forecast data, the investor assumes all financial risks. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Nevertheless, DKNG stock is now positive for the year (+16.73%), as it closed at $46.56 on Dec. 31. 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. Click here to see what Matt has up his sleeve now. In late summer 2021, DraftKings (NASDAQ: DKNG) rebounded to more than $60 and looked ready to find a new high. 1125 N. Charles St, Baltimore, MD 21201. Target values for the price of one DraftKings share for May 2025. According to data compiled by Market Beat, of 26 analysts, 17 rated the DKNG stock a buy, eight suggested a hold and one recommended a sell. In addition, I dont think that it matters that much that the estimates I am using relate to 2025. If yes, then on this page you will find useful information about the dynamics of the DKNG stock price in 2022-2027. That gives DKNG stock an enterprise value of $26.85 billion. The median. Key support is seen around 15.15 which is expected to be maintained throughout the first half of 2023. Keep in mind that DKNG stock is well off of its highs. DraftKings will report third-quarter results on Nov 5. 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. The data suggest that this NFL season is bringing a flurry of activity to DraftKings platform much greater than what analysts predicted. Thats a powerful and attractive combination. The NFL post-season will have strong betting volumes compared to the regular season. Snapped up 210,644 shares estimated to be worth about $11.05 million in DraftKings Inc (NASDAQ:DKNG) on the dip. For example, Seeking Alpha indicates that on average analysts estimate revenue will reach $3.58 billion by 2025. Thats why DKNG stock and other sports betting names rose in 2020: investors believed the pandemic would lead to faster, broader legalization. Copyright 2023 InvestorPlace Media, LLC. The major market events for the week ahead right in your inbox. Growing competition is a long-term risk for DraftKings. The company recently released Q2 earnings and it easily beat analyst forecasts. Our 3 Top Picks. 50/200 Day Moving Average: DraftKings stock prediction results are shown below and presented in the form of graphs, tables and text information, divided into time intervals. Optimistic target level: 21.19. That gives it an equity market value of $28.85 billion, or 34.2% ahead of todays price. quotes delayed at least 15 minutes, all others at least 20 minutes. Its down from $71.98 on March 19 to $54.35. It indicated that sales for 2021 will be in the range of $1.21 billion to $1.29 billion. That includes DraftKings (DKNG), which just caught double bottom support around $18 - and could see higher highs. On 5 November 2021, DraftKings released its Q3 2021 financial results. Just from what weve seen so far, the 2020 case for DKNG stock looks like it was on point. DKNG stock has slipped in the past month without a material change to its bullish narrative. The Companys registered office is at Bahamas Financial Centre, 3rd Floor, Shirley and Charlotte Street, P.O. This is massive growth and DraftKings will play a major role here. It was fourth quarter earnings that helped drive the rally to last months highs, thanks in part to raised guidance for this year. On 25 January 2022, Moffett Nathanson slashed its DraftKings stock projection target from $36 to $25, but maintained its neutral rating. The company spent around $1.56bn in acquiring Golden Nugget. Article printed from InvestorPlace Media, https://investorplace.com/2021/08/dkng-stock-is-set-for-growth-with-strong-q2-results-and-partnerships/. 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. Get the free SEC Filings - DraftKings Inc. Class A Common Stock (DKNG) Description . Build a CFD portfolio with your favourite companies. Pessimistic: $20.82. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. 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 . Article printed from InvestorPlace Media, https://investorplace.com/2021/06/dkng-stock-should-rise-by-34-based-on-revenue-projections/. DKNG DraftKings Inc 110,513 $18.86 $0.06 (0.32%) Today $18.95 0.09 (0.48%) Pre-Market Market Cap $8.49B Volume (M) 1,006.00 52-Wk High $25.01 52-Wk Low $9.77 About Feed Sentiment Fundamentals News There is no chart data available for this period 1d 1w 1m 3m 6m 1y All Sentiment Score Message Volume Score Disclaimer: This is informational only. Opinions on the stock are mixed, with 16 analysts rating it as a "buy," 0 as "overweight," 7 as "hold," and 1 as "sell.". Despite the impact of the pandemic which led to short seasons and canceled tournaments, online sports betting has been consistently growing. She believes in buying and holding for long-term gains. Within a week from the third quarter financial results being made public, the DKNG stock price had fallen by 7.12%. Article printed from InvestorPlace Media, https://investorplace.com/moneywire/2021/04/bigger-market-cheaper-price-make-dkng-stock-buy/. DKNG stock looks undervalued considering the potential of the company. 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. Pessimistic: $19.23. Most recently, it reported its first-quarter earnings in May, which showed that the business was growing at a rapid rate. Our 3 Top Picks. Pessimistic target level: 18.99. Nasdaq Next, I multiply the EBITDA number by 15 times to value those earnings. 2023 InvestorPlace Media, LLC. If this momentum continues, its certainly possible DraftKings could post some blowout quarters. The applications are still pending. quotes delayed at least 15 minutes, all others at least 20 minutes. Today marks another milestone for DraftKings and the future of digital sports entertainment and gaming in America. Certain statements in this Annual Report on Form 10-K (this "Form 10-K") may constitute "forward-looking statements" for purposes of the federal securities laws. Its growing its user base swiftly, more than doubling its average monthly unique players for the first quarter. Article printed from InvestorPlace Media, https://investorplace.com/2022/01/why-dkng-stock-is-out-of-favor-despite-its-strong-prospects/. quotes delayed at least 15 minutes, all others at least 20 minutes. And it shouldnt be profitable, either. A company with a weak moat has a broken business model. Our 3 Top Picks. For DraftKings stocks, the 200-day moving average is the support level today. Ticker Symbol DKNG Full Company Profile Financial Performance In 2022, DKNG's revenue was $2.24 billion, an increase of 72.87% compared to the previous year's $1.30 billion. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. 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. Sign up below to get this incredible offer! She believes in buying and holding for long term gains. 5 Hypergrowth Stocks With 10X Potential in 2023, The Time to Buy Peloton Stock Is Now, According to Cathie Wood, Luke Lango and the InvestorPlace Research Staff, Facebooks CTO Departure Is Huge News for This Hypergrowth Crypto, This Is the Worst Thing You Can Do in the Stock Market, How to Profit From the Intelligence Age With AI Stocks, Capitalize on the Emerging Age of AI for Hefty Profits, Adopt the AI Revolution Before It Crowns the Next-Generation of Billionaires, Opendoor: The Amazon of Houses Keeps Getting Better. Still, DraftKings heavy advertising spending is temporary. The rest of this article will explain how I value DKNG stock, so you can have a simple understanding of my working model. And yet DKNG stock has faded over the past month. Dont forget that DraftKings has a solid iGaming business where that is available: it has solid market share in New Jersey, for instance. 2023 Capital Com Online Investments Ltd. Of course, today is another bloodbath in the markets. According to our research, DKNG stock is a bad long-term investment. Customers will get a better online sportsbook experience. Given our strong start to 2021 and underlying acquisition, retention, and monetization of players, we are increasing our guidance to $1.05 billion to $1.15 billion of revenue for 2021, which. Others, like California, need to work through a nest of competing interests. When should I take profit in DraftKings stock? Copyright During the day the stock fluctuated 9.96% from a day low at $19.28 to a day high of $21.20. The median. 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. Famed short-seller Jim Chanos disclosed his bet against the companys stock, and Chief Executive Officer Jason Robins questioned his concerns on valuations. Shares of the Boston-based company sank as much as 19% in New York, their biggest drop since March 2020. Therefore, assuming 50% margins, EBITDA will reach $1.79 billion by 2025. Conversely, DraftKings may post ongoing losses and a break-even quarter starting next year. Pessimistic: $18.40. Forward P/E uses projections of future earnings instead of final numbers. Great Panther Mining's latest twelve months diluted eps (cont. All rights reserved. Any sort of adjustment to a growth stock such as DKNG higher is bullish for investors over the near term. DKNG share price has been in a bear cycle for the past year. And never invest or trade money you cannot afford to lose. With that in mind, lets dig deeper into the driving forces behind DKNG stock. This stock market technical analysis blog has been live since October 2009 (over 13 years), providing unbiased stock market technical analysis of the SP-500, Gold and more that ignores the white noise of news and politics. Yet here in 2021, the market seems to have forgotten that 2020 case. 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. Vandita Jadeja is a CPA and a freelance financial copywriter who loves to read and write about stocks. The chart below shows the historical price of DraftKings stock and a prediction chart for the next month. In November 2021, the federal court made a ruling that puts an end to sports betting legalization. 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, Why DraftKings Is Out of Favor Despite Its Strong Prospects. But DKNG stock actually has suffered. Copyright 2023 InvestorPlace Media, LLC. Theres even room for more lines. The stock is clearly undervalued considering the market and the ability of the company to generate revenues. I believe DKNG stock will certainly reach the all-time high again, but it may take some time. The New York Times was among the many media organizations in 2020 that pushed the narrative that the COVID lab leak theory was some sort of wild conspiracy being pushed by the far right.. As the Times reported earlier this week, "new intelligence has prompted the Energy Department to conclude that an accidental laboratory leak in China most likely caused the coronavirus pandemic." However, gaming license delays and a dramatic shift in market sentiment toward bearishness have added risks for the sector. However, a report from short-seller Hindenburg Research has most recently been a thorn in its side. As was expected, the pandemic has blown a hole in state government budgets. ET on Zacks.com DraftKings To Rally Around 38%? Once profits can be clearly forecast, the valuation will be based on a discounted measure of their present value. All rights reserved. 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. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. The stock will go higher in the coming months and this dip is a good chance to enter. 1125 N. Charles St, Baltimore, MD 21201. In fact, there was a double whammy effect. While gambling predictions from the AGA aren't out just yet, we expect to see similar numbers. All rights reserved. Even though sports betting is legal for DraftKings in limited places, it should lift its results. All rights reserved. The weighted average target price per DraftKings share in May 2025 is: 19.84. Right from the comfort of your home, you can engage in a game and socialize with your friends. DraftKings has a strong leadership team that is extremely passionate about taking the company to the next level. Forecasts shouldn't be used as a substitute for your own research. Once investors grow more confident that the business is profitable, they will accumulate shares. All rights reserved. Optimistic: $23.47, An downtrend is forecast for this month with an optimal target price of $20.8086. The sports betting sector is deeply out of favor. Dividend Per Share is a financial indicator equal to the ratio of the company's net profit available for distribution to the annual average of ordinary shares. Sign up below to get this incredible offer! This is when DraftKings will make the right moves to widen its market share and grow revenue. Buy or sell stock? These are two of many partnerships the company has formed to increase growth. 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 . The bad news for shareholders is that insiders sold more shares in the last 12 months than they bought. On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. It launched a variant game of blackjack called Spanish21, which is a unique offering among its peers. This figure corresponds to the Average Price over the previous 50/200 days. I have my hopes pinned on this partnership which will help expand the company. Pessimistic: $19.26. Thats because valuation isnt based on a metric or two in a given way. What Is the Best EV Stock to Buy Now? However, one analyst seems to disagree with this view. If you rely on the information on this page then you do so entirely on your own risk. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Positive dynamics for DraftKings shares will prevail with possible volatility of 5.819%.Pessimistic target level: 18.79Optimistic target level: 19.95, Forecast target price for 03-09-2023: $19.66. 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. , the online sports betting industry will go from $9.5 billion in 2020 to $37 billion in 2025. The entire focus for traders interested in DKNG is $17.41. 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 One of the states that introduced legislation in 2021 in New York, which boasts a population of over 19 million. The company distributes its product offerings through a variety of channels, including traditional websites, direct app downloads, and direct-to-consumer digital platforms. We forecast DraftKings stock performance using neural networks based on historical data on DraftKings stocks. multiplying the number of shares in the company outstanding by the market price of one share. He argues that sports bettingcould reach $15 billion in 2025, up from $3 billion in 2020. as a result of using the information contained on the site. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. When should I take profit in DraftKings stock? Lorem ipsum dolor sit amet, consectetur adipiscing elit. Their mutual passion evolved to build a sports betting company with footprints in eight countries. 2023 InvestorPlace Media, LLC. So what we have here is a company with one of the better growth opportunities in the entire market. What Is the Best EV Stock to Buy Now? 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 DraftKings (DKNG) story began when three co-workers bonded over a shared passion for fantasy sports. "locale": "en" Northland adjusted its price target to $45 from $75, but kept its outperform rating, as of 21 January 2022. Join the 500.000+ traders worldwide that chose to trade with Capital.com, Also you can contact us: DKNG Stock 12 Months Forecast $22.86 (23.04% Upside) Based on 21 Wall Street analysts offering 12 month price targets for DraftKings in the last 3 months. Loop Capital believes the fact that DraftKings has become the No. For example, as mentioned analysts expect revenue to reach $1.17 billion this year. 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. ops) growth is -289.4%.. View Great Panther Mining Limited's Diluted EPS (Cont. Key support is seen around 15.15 which is expected to be maintained throughout the first half of 2023. When it reports results next quarter, investors should look at the companys operating margins closely. The company is one of the biggest players in the sports betting industry. DraftKings needs to shrink its expenses in the quarters ahead. Here Are 10 Other Analyst Forecasts For Tuesday Feb. 21, 2023 at. In multiple states, voters passed referendums legalizing sports betting in November. Analyst Report: DraftKings Inc DraftKings Inc., based in Boston, is a digital sports entertainment and gaming company that provides users with daily sports, sports betting, and iGaming . Interestingly, the company has enough cash to expand the market through acquisitions and it is walking on the right path. DraftKings is the undisputed king of gaming, with a fantasy sports market share of roughly 30% in the U.S. market. Dividend yield is a ratio that shows how much a company pays in dividends each year at the stock price. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Look at software or e-commerce: most of the biggest winners in those sectors had skeptics hollering about valuation all the way up. DKNG stock emerged in 2020 through a blank check merger and there is no stopping the companys momentum. I expect that will change in short order, at which point DKNG will resume its rally. And DraftKings long-term opportunity is as good as anyone. This is despite the fact that right now the company is unprofitable. DKNG Forecast. Copyright 2023 InvestorPlace Media, LLC. { It represents a massive market for DraftKings to gain entry if it can. Forecast target price for 03-06-2023: $18.97. The deal will help increase revenue and attract new users to DraftKings. Importantly, its cash burn was US$425m over the trailing twelve months.. And now New York, the countrys fourth-most populous state, is launching mobile wagering. That is not normal. 2023 InvestorPlace Media, LLC. Detailed values for the DraftKings stock price can be found in the table below.
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