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. DraftKings is now available in 12 states after its blockbuster launch in Virginia and Michigan. The company has already made impressive acquisitions and deals over the past year, and it does not appear ready to slow down anytime soon. Today marks another milestone for DraftKings and the future of digital sports entertainment and gaming in America. ops) growth is -8.7%.. View Leidos Holdings, Inc.'s Net Income to Stockholders (Cont. The point is that it was undervalued and likely to rise. This figure corresponds to the Average Price over the previous 50/200 days. Note that analysts predictions are often wrong. All rights reserved. Forecasts shouldn't be used as a substitute for your own research. In May, the Positive dynamics for Momo shares will prevail with possible monthly volatility of 10.401% volatility is expected. And now New York, the countrys fourth-most populous state, is launching mobile wagering. Northland adjusted its price target to $45 from $75, but kept its outperform rating, as of 21 January 2022. In the most bullish scenario, readers may assume revenue will grow 60% to 80% over the next five years. 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. That represents a drop of 24.5% over 3 months. In late summer 2021, DraftKings (NASDAQ:DKNG) rebounded to more than $60 and looked ready to find a new high. 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 . A day after this was announced, the stock lost 0.72%. Meanwhile, costs rose as the pandemic drove higher spending in a number of areas. Importantly, its cash burn was US$425m over the trailing twelve months.. The irony is that precisely the same case is playing out again. As the wave of legalization of OSB continues in the country, DraftKings has a shot at stamping its authority on the sector. It was fourth quarter earnings that helped drive the rally to last months highs, thanks in part to raised guidance for this year. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. The stock will go higher in the coming months and this dip is a good chance to enter. Nasdaq On 5 November 2021, DraftKings released its Q3 2021 financial results. 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. Negative dynamics for DraftKings shares will prevail with possible volatility of 4.145%.Pessimistic target level: 18.42Optimistic target level: 19.22, Forecast target price for 03-07-2023: $19.20. 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, An analysts DraftKings stock analysis is based on making fundamental and technical studies of the stocks performance. Since then, the stock has lost 64.26% in value, reaching $20.33, at the time of writing (27 January 2022). The median. $14.51 / $14.65. 2023 InvestorPlace Media, LLC. DraftKings (Nasdaq: DKNG) Stock Forecast We'll start with an explainer about what does DraftKings does. 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. 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. Chris has over 20 years of investing experience in the stock market and runs the Do-It-Yourself Value Investing Marketplace on Seeking Alpha. Be that as it may, short sellers typically have vested interests in spreading such news. The public float for AUY is 957.57M, and at present, short sellers hold a 0.67% of . Copyright 2023 InvestorPlace Media, LLC. Just from what weve seen so far, the 2020 case for DKNG stock looks like it was on point. Some states wont want to see revenues head to neighboring jurisdictions. Next, I multiply the EBITDA number by 15 times to value those earnings. For those of you just seeing this! Since then, as of June 9, it is now at $54.35. This is because the market assumes that the sports betting market will continue to grow dramatically. DraftKings Inc. stock trend is negative . Let's take a look at a DraftKings stock forecast and find out. DKNG stock can reach $70 as the company makes all the right moves By Vandita Jadeja Aug 12, 2021, 3:45 pm EST Online gambling app DraftKings (NASDAQ: DKNG) has certainly had an excellent. The short-term hit from canceled and postponed seasons was more than outweighed by the improved long-term outlook. This is the prior range low. 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. In late summer 2021, DraftKings (NASDAQ: DKNG) rebounded to more than $60 and looked ready to find a new high. In multiple states, voters passed referendums legalizing sports betting in November. DraftKings was even named an official partner of the National Football League, the biggest league for U.S. gambling. Pessimistic: $18.40. She believes in buying and holding for long-term gains. However, one analyst seems to disagree with this view. Interestingly, the company has enough cash to expand the market through acquisitions and it is walking on the right path. The company is one of the biggest players in the sports betting industry. On the date of publication, Vandita Jadeja did not have (either directly or indirectly) any positions in the securities mentioned in this article. 1125 N. Charles St, Baltimore, MD 21201. This is massive growth and DraftKings will play a major role here. Still, DraftKings heavy advertising spending is temporary. As its business attracts customer growth, revenue will rise. 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. News on the political front looks positive. This is a clear sign that DraftKings is attracting users with its unique marketing strategies and its revenue is only trending upward. 1125 N. Charles St, Baltimore, MD 21201. I have my hopes pinned on this partnership which will help expand the company. With strategic acquisitions and partnerships, DraftKings is putting its money in the right place. Therefore, investors should take the report with a grain of salt, and it should not deter them from DKNG stocks bull case. For now, Chanos is right that the excessive valuation will lead to a drop. Within a week from the third quarter financial results being made public, the DKNG stock price had fallen by 7.12%. Online gaming company DraftKings (NASDAQ:DKNG) has been the talk of the industry in the past year. DraftKings needs to shrink its expenses in the quarters ahead. What You Should Know. This year, 25 state legislatures introduced legislation to legalize online sports betting. For the three months ended September 2021, revenue from MUPs was reported at $1.34m. 2023 InvestorPlace Media, LLC. The company defines MUPs as users who have paid engagement across one or more product offerings. Optimistic: $23.78, An uptrend is forecast for this month with an optimal target price of $22.4839. DKNG share price has been in a bear cycle for the past year. Moreover, its not as if theres any bad news driving the pullback. 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. On Wall Street, analysts have an average price target of $46 per TipRanks. It fell 14.10% to an intra-day low of $17.6, closing its first day at $19.35.In the latest DraftKings stock news, on 6 January it became one of the first companies to launch its mobile and online sportsbook in New York. Theres even room for more lines. On 26 January 2021, DKNG stock closed at $54.06. Trailing P/E depends on what has already been done. Pessimistic: $21.05. If the company manages to report higher average revenue per user, it will be a game-changing development. 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. DraftKings shares closed 1.94% to $52.46 on Friday. DraftKings Inc. stock trend is negative. Right from the comfort of your home, you can engage in a game and socialize with your friends. 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. The sports betting industry is massive, DraftKings is in a growth stage and there is huge potential to expand. In fact, there was a double whammy effect. For example, in its latest quarter (Q1), DraftKings had an adjusted EBITDA loss of $139.3 million on revenues of $312.7 million. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The third-quarter results may take the stock higher to the $50s. Despite the fact that DKNG stock's price has bottomed, the path toward higher levels seem to be challenging. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. "width": "250", Barry Pack, Oregon Lotterys Director, said, We see benefits for Lottery too, as the shift to DraftKings means fewer third-party service providers and a simpler financial structure for player accounts.. The legalization of online betting has transformed the fortunes DKNG stock, and the company expanded its revenue by more than 70%. Theres even room for more lines. Financial Statements Analyst Forecast According to 40 analysts, the average rating for DKNG stock is "Buy." DKNG Stock USD 18.19 0.85 4.46% DraftKings stock price prediction is an act of determining the future value of DraftKings shares using few different conventional methods such as EPS estimation, analyst consensus, or fundamental intrinsic valuation. Considering the potential of the company and the industry to cater to, DKNG stock is well positioned at the current level. Bears may justify the ongoing losses as a reason to bet against the company. Its difficult to see why. Theres even room for more lines. Traders also thought sports betting gaming license wins would be positive catalysts. Optimistic: $20.20 DraftKings Stock Prediction for Apr 2023 Considering the potential of the company and the industry to cater to, DKNG stock is well positioned at the current level. Sign up below to get this incredible offer! 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 investor bet against Tesla (NASDAQ:TSLA), saying in December 2017 that the stock was worth zero. Optimistic: $20.20, An uptrend is forecast for this month with an optimal target price of $19.695. Why Is Novavax (NVAX) Stock Up 12% Today? Sign up below to get this incredible offer! Its aggressive promotional activities will solidify its market share growth in sports betting. On 26 January 2021, DKNG stock closed at $54.06. On the date of publication, Vandita Jadejadid not have (either directly or indirectly) any positions in the securities mentioned in this article. The company spent around $1.56bn in acquiring Golden Nugget. FAQ. The pandaforecast.com portal is not responsible for the loss of your money in the stock market Once profits can be clearly forecast, the valuation will be based on a discounted measure of their present value. multiplying the number of shares in the company outstanding by the market price of one share. It will also help reduce the losses of DraftKings as Golden Nugget is a solid, revenue-generating company. Theres even room for international expansion over time, as DraftKings has offices in Europe as well. This is massive growth and DraftKings will play a major role here. Keep in mind that DKNG stock is well off of its highs. How much will one DraftKings share be worth in The median. Poteau, OK (74953) Today. Is This the Best Way to Invest in the AI Gold Rush? 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. DraftKings stock prediction results are shown below and presented in the form of graphs, tables and text information, divided into time intervals. That is the reason why I dont feel right now that is important to discount the future sales and EBITDA to the present. The rest of this article will explain how I value DKNG stock, so you can have a simple understanding of my working model. For the year ended Dec. 31, 2022, DraftKings reported revenue of $2.2 billion, which represented 69% growth year over year. Its growing its user base swiftly, more than doubling its average monthly unique players for the first quarter. 1125 N. Charles St, Baltimore, MD 21201. Once investors grow more confident that the business is profitable, they will accumulate shares. At its core, my model depends on a report by Morgan Stanley analyst Thomas Allen. On March 02, 2023, the average . Article printed from InvestorPlace Media, https://investorplace.com/2021/07/buy-the-dip-in-dkng-stock-for-its-incredible-growth-outlook/. Sign up below to get this incredible offer! DKNG stock has now risen from a recent closing low on July 16 of $43.79 to $51.98 as of the close on. 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. The consensus 12-month DraftKings stock price target is $56.13. After marking a high of 74, it made a lower high of 64. Over the past year, it has become difficult to argue the bull case for Lucid Motors (NASDAQ:LCID). According to an algorithmic-based application, Wallet Investor, the share price for DKNG stock could potentially decline to $0.000001 by March 2023. When should I take profit in DraftKings stock? Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 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). The lists should serve as a good starting point to find ideas to invest . 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. All rights reserved. What Is the Best EV Stock to Buy Now? On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The average Tattooed Chef stock price prediction forecasts a potential upside of 437.19% from the current TTCF share price of $1.21. Nasdaq Here's one analyst price target investors in DraftKings may want to pay attention to. One of the hottest stocks right now,DraftKings(NASDAQ:DKNG), has been an intriguing company to watch. The short float on DKNG stock is around 10%. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. The material provided on this website is for information purposes only and should not be understood as an investment advice. In 2020, DraftKings (NASDAQ: DKNG) stock rose a sizzling 335%. Lorem ipsum dolor sit amet, consectetur adipiscing elit. During pandemic-induced global lockdowns, the popularity of online gaming and betting soared. Investors are losing patience waiting for DraftKings to win approval for operating sportsbook operations. 50/200 Day Moving Average: DraftKings is one of the largest operators of fantasy sports services. That forecast, however, was overshadowed by a wider-than-expected projected loss. What Is the Best EV Stock to Buy Now? All rights reserved. Sign up below to get this incredible offer! Pessimistic target level: 18.99. I estimate DraftKings will have at least $2 billion in cash by 2025 from profitability and further warrant issues. Thats exactly what is happening. 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. 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. DKNG stock is down more than 35% from its highs in March. 2023 InvestorPlace Media, LLC. The stock also ran briefly in 2021 and in 2020, as well. stock price in 2023, 2024, 2025, 2026, 2027. With a 5-year investment, the revenue is expected to be around +1089.67%. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. That implies that DraftKings market share would be slightly less than a quarter by 2025. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. 1125 N. Charles St, Baltimore, MD 21201. According toPRNewswire, the online sports betting industry will go from $9.5 billion in 2020 to $37 billion in 2025. That came a day after Penn National Gaming (. 2023 InvestorPlace Media, LLC. 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. Optimistic: $21.43, An uptrend is forecast for this month with an optimal target price of $21.0369. I also believe its newly-launched NFT platform will work in favor of the company and eventually attract new users to the platform. Most recently, it reported its first-quarter earnings in May, which showed that the business was growing at a rapid rate. Moreover, I now believe that that the market is clearly valuing the stock based on its 2025 forecast revenue numbers. Our 3 Top Picks. Eventually, the negative sentiment will reverse. Article printed from InvestorPlace Media, https://investorplace.com/2022/01/why-dkng-stock-is-out-of-favor-despite-its-strong-prospects/. Growth of 61.36% was reported with revenues up by $81m. 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. Compared to $213m in revenues for the three months to 30 September 2021, Q3 2020 revenues were at $132m. More importantly, it has been collaborating with Dish Networks (NASDAQ:DISH) Sling TV to offer sports betting information that effectively ties in sports updates into betting odds. DraftKings company info Forecasting 52 Week High: 19.5476 USD 52 Week Low: 0.00000000000101 USD With that in mind, lets dig deeper into the driving forces behind DKNG stock. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/dkng-stock-should-rise-by-34-based-on-revenue-projections/. If online sports betting is legalized in all states, the numbers could be significantly higher. on IMF Forecasts a Sunnier 2023 for Global Economy us , l. When should I record a loss on DraftKings stock? If DKNG breaks this level, then support will drop to $15 and $11 . 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. Pessimistic: $19.26. 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. 1125 N. Charles St, Baltimore, MD 21201. DKNG stock emerged in 2020 through a blank check merger and there is no stopping the companys momentum. Capital Com is an execution-only service provider. The market is getting competitive, and new markets will allow DraftKings to cement its authority and expand its revenue base to new heights. Leidos's latest twelve months net income to stockholders (cont. Customers will get a better online sportsbook experience. 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. Optimistic target level: 21.19. Losses were -$1.38 billion, -9.53% less than in 2021. Over the past. New state launches will continue playing a major role in sustaining its lofty growth numbers in the future. Additionally, it also launches social media features on its platform, enabling customers to interact and share their bets effectively. Plenty of sunshine. 2023 InvestorPlace Media, LLC. DraftKings is using aggressive upfront promotions to capture customers that will be profitable over the long haul. Get the free SEC Filings - DraftKings Inc. Class A Common Stock (DKNG) Description . The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. In Florida, the launch of legalized sports betting stalled. Our 3 Top Picks. The NFL post-season will have strong betting volumes compared to the regular season. This win will lift the companys brand awareness and give it an edge over the competition. 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. Build a CFD portfolio with your favourite companies. Shed 149,695 shares,. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. It has shown volatility since then and is trading much lower at less than $47 today. 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. According to our research, DKNG stock is a bad long-term investment. DraftKings has reported strong revenues in Q3 2021, but continues to make significant losses. Therefore, look to make at least 34% on DKNG stock as it moves closer to its inherent value of $73 per share. I am bullish on the stock and believe it has a long way to go. Optimistic: $22.41. By 2025, the sports betting industry is projected to be worth $15 billion. Here are the top 20 stocks that have the highest upside according to Wall Street analysts. quotes delayed at least 15 minutes, all others at least 20 minutes. "locale": "en" Currently, DKNG trades at roughly $56 per share. Here Are 10 Other Analyst Forecasts For Tuesday Feb. 21, 2023 at. 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. It appears the annual fall selloff has come early this year. When it reports results next quarter, investors should look at the companys operating margins closely. All rights reserved. Lets dive into the analyst that just gave DKNG stock a big upgrade today. "colorTheme": "light", Article printed from InvestorPlace Media, https://investorplace.com/2021/08/dkng-stock-is-set-for-growth-with-strong-q2-results-and-partnerships/. Moreover, the company has a keen eye for innovation and introduced several new features to drive engagement on its platform. There are possibilities of a technical pullback; however, it is advised to wait before confirmation of a trend reversal is in place. It continues to push forward in the gaming market, opening up in new markets and offering a more well-rounded experience for its users. Sign up below to get this incredible offer! That is no small feat. 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. The company distributes its product offerings through a variety of channels, including traditional websites, direct app downloads, and direct-to-consumer digital platforms. I think the valuation for DKNG stock is always going to be at least 4 to 5 years in the future. Ops) Growth trends, charts, and more. 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