The company made the most of the pandemic and built strong partnerships to build a path for future growth. When should I record a loss on DraftKings stock? Sign up below to get this incredible offer! Theres even room for more lines. Further, it has announced a multi-year deal with Genius Sports (NYSE:GENI), a National Football League (NFL) data provider. On the date of publication, Chris Lau did not have (either directly or indirectly) any positions in the securities mentioned in this article. I also believe its newly-launched NFT platform will work in favor of the company and eventually attract new users to the platform. 1125 N. Charles St, Baltimore, MD 21201. And DraftKings long-term opportunity is as good as anyone. Copyright 2023 InvestorPlace Media, LLC. With strategic acquisitions and partnerships, DraftKings is putting its money in the right place. What are analysts' forecasts for DraftKings stock? One of the most exciting planned acquisitions is Golden Nugget Online(NASDAQ:GNOG). 1125 N. Charles St, Baltimore, MD 21201. DraftKings will report third-quarter results on Nov 5. So what we have here is a company with one of the better growth opportunities in the entire market. 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. quotes delayed at least 15 minutes, all others at least 20 minutes. However, a report from short-seller Hindenburg Research has most recently been a thorn in its side. Article printed from InvestorPlace Media, https://investorplace.com/moneywire/2021/04/bigger-market-cheaper-price-make-dkng-stock-buy/. In late summer 2021, DraftKings (NASDAQ: DKNG) rebounded to more than $60 and looked ready to find a new high. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Copyright The successful prediction of DraftKings' future price could yield a significant profit. Note that analysts predictions are often wrong. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Draft Kings Annual Report 2021 Form 10K (NASDAQ:DENG) Published: November 5th, 2021PDF generated by stock light. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. In the most bullish scenario, readers may assume revenue will grow 60% to 80% over the next five years. That represents a drop of 24.5% over 3 months. Although the recent deal withEntain Plcdid not work out, DraftKings made several partnerships and acquisitions that will work in its favor. 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 Nasdaq This achievement will complement the companys goal of building a top-rated online sportsbook. So far in 2021, DKNG has gained another 21% though that includes the recent sell-off from last months highs. Copyright 2023 InvestorPlace Media, LLC. The company is not only offering an exciting experience to the users, but is also working on building alternative sources of revenue. 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. Nevertheless, DKNG stock is now positive for the year (+16.73%), as it closed at $46.56 on Dec. 31. In multiple states, voters passed referendums legalizing sports betting in November. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. What Is the Best EV Stock to Buy Now? We forecast DraftKings stock performance using neural networks based on historical data on DraftKings stocks. 1125 N. Charles St, Baltimore, MD 21201. According to our research, DKNG stock is a bad long-term investment. New states will follow. Dont forget that DraftKings has a solid iGaming business where that is available: it has solid market share in New Jersey, for instance. Our 3 Top Picks. The Companys registered office is at Bahamas Financial Centre, 3rd Floor, Shirley and Charlotte Street, P.O. That gives DKNG stock an enterprise value of $26.85 billion. When using the forecast data, the investor assumes all financial risks. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. All rights reserved. This is massive growth and DraftKings will play a major role here. Major sports have since returned, leading to big-time growth in DraftKings revenue. And yet DKNG stock has faded over the past month. During pandemic-induced global lockdowns, the popularity of online gaming and betting soared. The final quotes of the instrument at the close of the previous trading day are a signal to adjust the forecasts for DraftKings shares. Any sort of adjustment to a growth stock such as DKNG higher is bullish for investors over the near term. Ops) Growth trends, charts, and more. If customers shop for a better sports betting platform, DraftKings stock will face selling pressure. We will see a lot of action around the start of this years football season. A recently updated price target from Loop Capital for DKNG stock of $105 implies upside of approximately 85% from current levels. Despite the fact that DKNG stock's price has bottomed, the path toward higher levels seem to be challenging. Importantly, its cash burn was US$425m over the trailing twelve months.. The major market events for the week ahead right in your inbox. Optimistic: $20.20 DraftKings Stock Prediction for Apr 2023 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. 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. Be that as it may, short sellers typically have vested interests in spreading such news. A sustained corrective move followed after that. Their mutual passion evolved to build a sports betting company with footprints in eight countries. All rights reserved. And it shouldnt be profitable, either. DraftKings stock is lower by 10.41 percent over the past month, and the gaming name shed 29.15 percent from its March highs. This is when DraftKings will make the right moves to widen its market share and grow revenue. In fact, DKNG ran from about $15.50 to just above $21 at the start of the tournament. While the effectiveness of this highly sought-after metric is questionable,. Fortunately, DraftKings has a strong brand name that consumers recognize. 5 Hypergrowth Stocks With 10X Potential in 2023, DraftKings reported revenues of $312 million, 7 A-Rated Retirement Stocks to Buy to for Your Golden Years, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. as a result of using the information contained on the site. The pandaforecast.com portal is not responsible for the loss of your money in the stock market Positive dynamics for DraftKings shares will prevail with possible volatility of 3.361%.Pessimistic target level: 19.70Optimistic target level: 20.38, An downtrend is forecast for this month with an optimal target price of $18.9448. Article printed from InvestorPlace Media, https://investorplace.com/2021/08/dkng-stock-is-set-for-growth-with-strong-q2-results-and-partnerships/. DraftK ings Inc. headquartered in Boston, Massachusetts. It continues to innovate and offer new unique features to improve the quality of its service. 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. DraftKings Inc. stock trend is negative . 1125 N. Charles St, Baltimore, MD 21201. 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 . News on the political front looks positive. 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. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Optimistic: $23.33, An downtrend is forecast for this month with an optimal target price of $22.3121. 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. Is This the Best Way to Invest in the AI Gold Rush? 1125 N. Charles St, Baltimore, MD 21201. When it reports results next quarter, investors should look at the companys operating margins closely. The lists should serve as a good starting point to find ideas to invest . Still, DraftKings heavy advertising spending is temporary. For the year ended Dec. 31, 2022, DraftKings reported revenue of $2.2 billion, which represented 69% growth year over year. Today, it is one of the top players in the massive sports betting industry. 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. He shares his stock picks so readers get original insight that helps improve investment returns. We initially share this idea in October 2018 and the stock . The point is that it was undervalued and likely to rise. However, those concerns are simply a diversion from the companys long-term bull case. What Is the Best EV Stock to Buy Now? The company recently acquired Golden Nugget (NASDAQ:GNOG), an online gambling service, for an all-stock transaction worth $1.56 billion. Optimistic: $22.41. Loop Capital believes the fact that DraftKings has become the No. Pessimistic: $21.05. What is the future of DraftKings stock? These are two of many partnerships the company has formed to increase growth. This win will lift the companys brand awareness and give it an edge over the competition. However, the online sportsbook market is in its infancy at this stage. Our 3 Top Picks. DraftKings is using aggressive upfront promotions to capture customers that will be profitable over the long haul. Let's take a look at a DraftKings stock forecast and find out. Within a week from the third quarter financial results being made public, the DKNG stock price had fallen by 7.12%. ET on Zacks.com DraftKings To Rally Around 38%? Keep in mind that DKNG stock is well off of its highs. It launched a variant game of blackjack called Spanish21, which is a unique offering among its peers. Change of direction? Mark Hake writes about personal finance on mrhake.medium.com and runs the Total Yield Value Guidewhich you can reviewhere. All rights reserved. The data suggest that this NFL season is bringing a flurry of activity to DraftKings platform much greater than what analysts predicted. DraftKings stock prediction results are shown below and presented in the form of graphs, tables and text information, divided into time intervals. Trailing P/E depends on what has already been done. Therefore, look to make at least 34% on DKNG stock as it moves closer to its inherent value of $73 per share. 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 . Once investors grow more confident that the business is profitable, they will accumulate shares. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. 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. These are two of many partnerships the company has formed to increase growth. On 26 January 2021, DKNG stock closed at $54.06. Article printed from InvestorPlace Media, https://investorplace.com/2021/09/draftkings-price-predictions-why-one-analyst-sees-dkng-stock-headed-to-105/. If the company manages to report higher average revenue per user, it will be a game-changing development. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/dkng-stock-should-rise-by-34-based-on-revenue-projections/. This figure corresponds to the Average Price over the previous 50/200 days. 1125 N. Charles St, Baltimore, MD 21201. Though some of the sales are automated, this will give investors a negative perception of the DKNG stock value. Over the past year, DKNG stock has gone from $30 to an all-time high of $74 in March and is down to $54 today. Lorem ipsum dolor sit amet, consectetur adipiscing elit. DKNG made it to the top 20. DraftKings shares closed 1.94% to $52.46 on Friday. worth $1.56 billion. A16 ated in 2021 to move the talc Major U.S. stock indexes injury . In November 2021, the federal court made a ruling that puts an end to sports betting legalization. That came a day after Penn National Gaming (. Ops) Growth trends, charts, and more. During that time there have been over 4000 blog posts made with over 10,000 charts on the markets and nearly 15 million page . The stock had fallen 63% over the past year through Thursday's close. Lorem ipsum dolor sit amet, consectetur adipiscing elit. DraftKings and Penn National Gamings (NASDAQ:PENN) Barstool Sports are seeking petition signers to support adding sports betting to the Florida ballot. 222 Berkeley Street, Boston, MA, 02116, United States. Also, when forecasting, technical analysis tools are used, world geopolitical and news factors are taken into account. On the date of publication, Vandita Jadejadid not have (either directly or indirectly) any positions in the securities mentioned in this article. Hello and Welcome to PUG Stock Market Analysis. 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. All rights reserved. Here Are 10 Other Analyst Forecasts For Tuesday Feb. 21, 2023 at. As the pandemic slowly changes how we engage with sports, DraftKings has a lot to look forward to. Jefferies forecasts a 2.8 percent decline for the consumer . It represents a massive market for DraftKings to gain entry if it can. Copyright quotes delayed at least 15 minutes, all others at least 20 minutes. In May, the Positive dynamics for Momo shares will prevail with possible monthly volatility of 10.401% volatility is expected. 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. DKNG top 20 large caps. Buy DKNG stock before third-quarter results. It has become a huge hit with sports fanatics. DraftKings Stock Forecast: heading to $15. 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. Additionally, it also launches social media features on its platform, enabling customers to interact and share their bets effectively. All rights reserved. Moreover, its not as if theres any bad news driving the pullback. Thats a logical strategy. Theres even room for more lines. Pessimistic target level: 18.99. It has a growing user base in different states which will continue to push revenue higher. Of course, today is another bloodbath in the markets. It will also help reduce the losses of DraftKings as Golden Nugget is a solid, revenue-generating company. Optimistic: $23.78, An uptrend is forecast for this month with an optimal target price of $22.4839. In Q3 2020, it was $1.02m. Theres even room for more lines. Today, DKNG is down more than 5%, despite a rather bullish catalyst for this gambling stock. 2023 InvestorPlace Media, LLC. For investors considering high-growth stocks such as DraftKings, now is apparently not the time to be taking on extra risk. With that in mind, lets dig deeper into the driving forces behind DKNG stock. This implies that DKNG stock is now worth about $73 per share, or 34% above todays price. "locale": "en" And sports betting taxes are a logical source of that revenue. Most recently, it reported its first-quarter earnings in May, which showed that the business was growing at a rapid rate. The bad news for shareholders is that insiders sold more shares in the last 12 months than they bought. Thats because valuation isnt based on a metric or two in a given way. 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. Pessimistic: $17.34. DraftKings was even named an official partner of the National Football League, the biggest league for U.S. gambling. The stock also ran briefly in 2021 and in 2020, as well. For example, in its latest quarter (Q1), DraftKings had an adjusted EBITDA loss of $139.3 million on revenues of $312.7 million. Losses were -$1.38 billion, -9.53% less than in 2021. DraftKings reported a better-than-expected quarter with, Strategic Partnerships That Will Lead Growth. Thats exactly what is happening. If yes, then on this page you will find useful information about the dynamics of the DKNG stock price in 2022-2027. Pessimistic: $17.34. About 20.9 million American "isTransparent": true, Source: Lori. 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. The public float for AUY is 957.57M, and at present, short sellers hold a 0.67% of . All rights reserved. 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. Over the past year, it has become difficult to argue the bull case for Lucid Motors (NASDAQ:LCID). The company spent around $1.56bn in acquiring Golden Nugget. The deal will help increase revenue and attract new users to DraftKings. The deal will help increase revenue and attract new users to DraftKings. It appears the annual fall selloff has come early this year. While gambling predictions from the AGA aren't out just yet, we expect to see similar numbers. On the date of publication, Vandita Jadeja did not have (either directly or indirectly) any positions in the securities mentioned in this article. DraftKings has reported strong revenues in Q3 2021, but continues to make significant losses. For example, as mentioned analysts expect revenue to reach $1.17 billion this year. The short float on DKNG stock is around 10%. The average price predicted for Yamana Gold Inc. (AUY) by analysts is $6.27, which is $0.99 above the current market price. In other words, the markets outlook on the stock will roll over to the next 4-to-5-year sales and EBITDA forecasts. According to an algorithmic-based application, Wallet Investor, the share price for DKNG stock could potentially decline to $0.000001 by March 2023. The benefits from its expansion strategies remain to be seen. When should I take profit in DraftKings stock? DraftKings reported revenues of $312 million, representing year-over-year growth of 175%. For now, Chanos is right that the excessive valuation will lead to a drop. 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). Plenty of sunshine. The chart below shows the historical price of DraftKings stock and a prediction chart for the next month. 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. He argues that sports bettingcould reach $15 billion in 2025, up from $3 billion in 2020. All rights reserved. The best performer of the Sportico Sports Stock Index was DraftKings (DKNG), which for the second-month in a row outpaced peers as investors increasingly view the business as the best play in U.S . Bears may justify the ongoing losses as a reason to bet against the company. DKNG stock emerged in 2020 through a blank check merger and there is no stopping the companys momentum. Are you interested in DraftKings Inc. stocks prediction? Our 3 Top Picks. What are analysts forecasts for DKNG stock? Her knowledge of words and numbers helps her write clear stock analysis. In late summer 2021, DraftKings (NASDAQ:DKNG) rebounded to more than $60 and looked ready to find a new high. 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.. DKNG stock looks undervalued considering the potential of the company. DraftKings is the undisputed king of gaming, with a fantasy sports market share of roughly 30% in the U.S. market. quotes delayed at least 15 minutes, all others at least 20 minutes. Click here to see what Matt has up his sleeve now. The rest of this article will explain how I value DKNG stock, so you can have a simple understanding of my working model. Chris Lauis acontributing author for InvestorPlace.com and numerous other financial sites. Nasdaq 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 . On Wall Street, analysts have an average price target of $46 per TipRanks. 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. Build a CFD portfolio with your favourite companies. Right now, no triggers for any actions.. But note that past performance is no guarantee of future results. On the app store, Oregon Lottery will replace the Scoreboard app with DraftKings Sportsbook. It uses the current share price and divides it by the total earnings per share for the last 12 months. Pessimistic: $19.59. The average price target represents a 23.04% change from the last price of $18.58. Theres even room for more lines. More no doubt are on the way. On the same day, Needham reiterated its buy, but lowered its price target to $46 from $73. In the first quarter of 2021, DKNG's total net revenues surged 146% year-over-year to $322 million. Why Is Novavax (NVAX) Stock Up 12% Today? Optimistic: $20.20, An uptrend is forecast for this month with an optimal target price of $19.695. DraftKings Inc., Tesla, H&R Block, Inc., among others, are approaching price targets. All rights reserved. "width": "250", DKNG stock hardly is cheap: it trades at more than 30x 2020 revenue. At one point, the platforms most popular sport was Ukrainian table tennis. Indeed, this is certainly a big boon for business, should this trend continue. quotes delayed at least 15 minutes, all others at least 20 minutes. Are you interested in DraftKings Inc. stocks and want to buy them, or are they already in your portfolio? Lorem ipsum dolor sit amet, consectetur adipiscing elit. That includes DraftKings (DKNG), which just caught double bottom support around $18 - and could see higher highs. Capital Com is an execution-only service provider. Sports betting has. The difference between trading assets and CFDs. Copyright 2023 InvestorPlace Media, LLC. 1125 N. Charles St, Baltimore, MD 21201. Copyright This is massive growth and DraftKings will play a major role here. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. DraftKings is known for strong partnerships in the ever-expanding industry. We use cookies to ensure that we give you the best experience on our website. Detailed values for the DraftKings stock price can be found in the table below. 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%). Wallet Investor is bearish on DraftKings stock value, restricting our scope to provide DraftKings stock outlook for 2025-2030. Positive dynamics for DraftKings shares will prevail with possible volatility of 3.420%.Pessimistic target level: 19.38Optimistic target level: 20.06, Forecast target price for 03-11-2023: $20.15. Online gaming company DraftKings (NASDAQ:DKNG) has been the talk of the industry in the past year. 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.