On 26 January 2021, DKNG stock closed at $54.06. However, those concerns are simply a diversion from the companys long-term bull case. The investor bet against Tesla (NASDAQ:TSLA), saying in December 2017 that the stock was worth zero. Copyright With strategic acquisitions and partnerships, DraftKings is putting its money in the right place. I have my hopes pinned on this partnership which will help expand the company. 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. The stock will go higher in the coming months and this dip is a good chance to enter. DraftKings (DKNG) | Market Armor It began the process for getting Nevada gaming licenses back on March 11, 2020. Considering the potential of the company and the industry to cater to, DKNG stock is well positioned at the current level. EBITDA is earnings before interest, income tax and depreciation of assets. Here Are 10 Other Analyst Forecasts For Tuesday Feb. 21, 2023 at. 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. Theres a simple reason why DKNG and other sports betting stocks rallied in 2020. Our 3 Top Picks. DraftKings Stock Forecast: Is DKNG Riskier Than Sports Gambling? A company will only raise its guidance if it is confident it can match or beat its forecast, and DraftKings looks set to dominate the market. When should I take profit in DraftKings stock? At its core, my model depends on a report by Morgan Stanley analyst Thomas Allen. Pessimistic: $21.62. The fair value of DKNG stock is scaring away investors, but this could create opportunities. 1 U.S. sportsbook in Apples App Store is a key indicator of how the market has shifted in DraftKings favor. Article printed from InvestorPlace Media, https://investorplace.com/2021/11/dkng-stock-has-monstrous-potential-in-the-future-of-sports-betting/. Our 3 Top Picks. 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. When it reports results next quarter, investors should look at the companys operating margins closely. 1125 N. Charles St, Baltimore, MD 21201. Will DKNG stock price go up? 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. According to our research, DKNG stock is a bad long-term investment. It has shown volatility since then and is trading much lower at less than $47 today. 1125 N. Charles St, Baltimore, MD 21201. Optimistic: $20.20 DraftKings Stock Prediction for Apr 2023 10-k For example, Seeking Alpha indicates that on average analysts estimate revenue will reach $3.58 billion by 2025. On 5 November, when Q3 2021 results were announced, the stock was trading at $43.62 by 12 November it had fallen to $40.51. 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. Today, DKNG is down more than 5%, despite a rather bullish catalyst for this gambling stock. Its aggressive promotional activities will solidify its market share growth in sports betting. Naturally, many of these proposals will not make it past the finish line. But DKNG shouldnt be cheap. DraftKings (DKNG) stock forecast for 2022 - PandaForecast.com DraftKings stock is lower by 10.41 percent over the past month, and the gaming name shed 29.15 percent from its March highs. 2023 InvestorPlace Media, LLC. The final quotes of the instrument at the close of the previous trading day are a signal to adjust the forecasts for DraftKings shares. DKNG stock rose 5.58%, up from $25.8 to $27.24 on 8 January 2022. The deal will help increase revenue and attract new users to DraftKings. DKNG Stock Down Despite Impressive Price Target Currently, DKNG trades at roughly $56 per share. 222 Berkeley Street, Boston, MA, 02116, United States. moreover, are not trading signals. Shed 149,695 shares,. According to an algorithmic-based application, Wallet Investor, the share price for DKNG stock could potentially decline to $0.000001 by March 2023. Additionally, Loop Capital believes DraftKings relationship with the NFL could be a massive catalyst. Arizona came on board last week. On the date of publication, Vandita Jadejadid not have (either directly or indirectly) any positions in the securities mentioned in this article. 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. And we have a stock thats pulled back substantially from its highs. For now, Chanos is right that the excessive valuation will lead to a drop. ET on Zacks.com DraftKings To Rally Around 38%? For the three months ended September 2021, revenue from MUPs was reported at $1.34m. 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. The stock is clearly undervalued considering the market and the ability of the company to generate revenues. He argues that sports bettingcould reach $15 billion in 2025, up from $3 billion in 2020. Our 3 Top Picks. quotes delayed at least 15 minutes, all others at least 20 minutes. When should I take profit in DraftKings stock? Optimistic target level: 21.19. DKNG Stock Price Targets and Analyst Ratings Sure, market conditions have been a big reason why LCID stock has fallen from $25 to under $10 . 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. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. quotes delayed at least 15 minutes, all others at least 20 minutes. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. DKNG stock pulled back despite its stellar performance and growth outlook. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. We use cookies to ensure that we give you the best experience on our website. DraftKings is one of the largest operators of fantasy sports services. In addition, I dont think that it matters that much that the estimates I am using relate to 2025. The DKNG stock forecast price, according to Market Beat, varies from the low of $23 to the high of $85. Right now, no triggers for any actions.. DraftKings (Nasdaq: DKNG) Stock Forecast We'll start with an explainer about what does DraftKings does. An analysts DraftKings stock analysis is based on making fundamental and technical studies of the stocks performance. It is already an official, 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. This is 15.33% more than the trading day before Thursday, 16th Feb 2023. The majority of retail investor accounts lose money when trading CFDs. Forecst.com predicts future values using technical analysis of a large number of analytical parameters. DraftK ings Inc. headquartered in Boston, Massachusetts. Traders also thought sports betting gaming license wins would be positive catalysts. DKNG Stock Price | DraftKings Inc. Cl A Stock Quote (U.S.: Nasdaq Nevertheless, DKNG stock is now positive for the year (+16.73%), as it closed at $46.56 on Dec. 31. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Optimistic: $23.03, An downtrend is forecast for this month with an optimal target price of $21.7914. DKNG share price has been in a bear cycle for the past year. DKNG : DRAFTKINGS INC - CL A stock forecast 2022 , 2022 - 2025 - 2030 It continues to push forward in the gaming market, opening up in new markets and offering a more well-rounded experience for its users. Yet investors dont seem nearly as excited. DraftKings Stock Forecast: heading to $15. demicshowering cash on hasn't had to lay off workers. DraftKings will report third-quarter results on Nov 5. On average, analysts forecast that TTCF's EPS will be -$0.39 for 2023 . He shares his stock picks so readers get original insight that helps improve investment returns. Some states wont want to see revenues head to neighboring jurisdictions. Shares Short Prior Month - the number of shares in short positions in the last month. 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. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Theres even room for more lines. Online gaming company DraftKings (NASDAQ:DKNG) has been the talk of the industry in the past year. What is the future of DraftKings stock? While gambling predictions from the AGA aren't out just yet, we expect to see similar numbers. The firm may achieve that target if sports betting volumes grow in the year ahead. However, a report from short-seller Hindenburg Research has most recently been a thorn in its side. It was fourth quarter earnings that helped drive the rally to last months highs, thanks in part to raised guidance for this year. For example, as mentioned analysts expect revenue to reach $1.17 billion this year. On the app store, Oregon Lottery will replace the Scoreboard app with DraftKings Sportsbook. Lets dive into the analyst that just gave DKNG stock a big upgrade today. Moreover, given that estimates for 2021 are for $1.17 billion, this implies a 4-year growth rate of 205.9%. Theres even room for more lines. 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 company spent around $1.56bn in acquiring Golden Nugget. Wallet Investor is bearish on DraftKings stock value, restricting our scope to provide DraftKings stock outlook for 2025-2030. 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 company has a stronghold on the industry and is making the right moves with partnerships and acquisitions to ensure that it grabs maximum users. Even though sports betting is legal for DraftKings in limited places, it should lift its results. Nasdaq The company revised its full-year outlook after reporting smashing results and a company will only take this step when it is confident of meeting the expectations. Theres even room for more lines. DraftKings Inc. (DKNG) Stock Price, News, Quote & History - Yahoo! It launched a variant game of blackjack called Spanish21, which is a unique offering among its peers. 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. 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. 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 applications are still pending. According toPRNewswire, the online sports betting industry will go from $9.5 billion in 2020 to $37 billion in 2025. DraftKings has reported strong revenues in Q3 2021, but continues to make significant losses. Counted STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10K/A Fill & Sign Online, Print, Email, Fax, or Download . 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 During the day the stock fluctuated 9.96% from a day low at $19.28 to a day high of $21.20. Though some of the sales are automated, this will give investors a negative perception of the DKNG stock value. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. As the pandemic slowly changes how we engage with sports, DraftKings has a lot to look forward to. Our 3 Top Picks. 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 . If this momentum continues, its certainly possible DraftKings could post some blowout quarters. Lorem ipsum dolor sit amet, consectetur adipiscing elit. It indicated that sales for 2021 will be in the range of $1.21 billion to $1.29 billion. If yes, then on this page you will find useful information about the dynamics of the DraftKings 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. DraftKings needs to shrink its expenses in the quarters ahead. All rights reserved. DraftKings Has Monstrous Potential in the Future of Sports Betting DKNG stock looks undervalued considering the potential of the company By Vandita Jadeja Nov 1, 2021, 6:00 am EST Online. DKNG stock was up close to 1% when markets. 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). DKNG stock can reach $70 as the company makes all the right moves. Forecasts shouldn't be used as a substitute for your own research. Lorem ipsum dolor sit amet, consectetur adipiscing elit. As the wave of legalization of OSB continues in the country, DraftKings has a shot at stamping its authority on the sector. DraftKings Is Raising Expectations for 2021 | The Motley Fool Palantir Technologies Inc Stock Forecast, Predictions & Price Target Add to Watchlist Overview Forecast Earnings Dividend Ownership Statistics Analyst price target for PLTR All Analysts Top Analysts Based on 13 analyst s offering 12 month price targets for Palantir Technologies Inc. Min Forecast $4.50 -43.54% Avg Forecast $8.69 +9.06% Max Forecast According to its forecast, as of 27 January 2022, the DraftKings future stock price could potentially decline to 0.000001 by March 2023. Let's take a look at a DraftKings stock forecast and find out. Currently, DKNG trades at roughly $56 per share. 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. multiplying the number of shares in the company outstanding by the market price of one share. This is massive growth and DraftKings will play a major role here. 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. The stock had fallen 63% over the past year through Thursday's close. All rights reserved. All rights reserved. Fortunately, DraftKings has a strong brand name that consumers recognize. What is TTCF's Earnings Per Share (EPS) forecast for 2023-2024? DKNG stock emerged in 2020 through a blank check merger and there is no stopping the companys momentum. DraftKings Inc. (DKNG) Analyst Ratings, Estimates & Forecasts - Yahoo 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. 1125 N. Charles St, Baltimore, MD 21201. This clearly implies that the market is valuing DKNG many years into the future based on its forecast revenue and profitability. It has a growing user base in different states which will continue to push revenue higher. Over the past. In late summer 2021, DraftKings (NASDAQ: DKNG) rebounded to more than $60 and looked ready to find a new high. 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. Copyright As was expected, the pandemic has blown a hole in state government budgets. DraftKings Inc. operates as a digital sports, entertainment and gaming company in the United States. All rights reserved. I estimate DraftKings will have at least $2 billion in cash by 2025 from profitability and further warrant issues. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. Join the 500.000+ traders worldwide that chose to trade with Capital.com, Also you can contact us: Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. Indeed, the fact that DraftKings is gaining market share much faster than its peers is a key catalyst for this price target hike. The Companys registered office is at Bahamas Financial Centre, 3rd Floor, Shirley and Charlotte Street, P.O. Box N-4865, Nassau, Bahamas. 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. The bad news for shareholders is that insiders sold more shares in the last 12 months than they bought. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/dkng-stock-should-rise-by-34-based-on-revenue-projections/. DKNG U.S.: Nasdaq DraftKings Inc. Watch list Create DKNG Alert Open Last Updated: Jan 24, 2023 at 12:18 p.m. EST Real time quote $ 14.84 0.28 1.92% Previous Close $14.56 Advanced Charting. Cathie Wood Watch: Ark Pares Exact Sciences, Other Holdings Thats why DKNG stock and other sports betting names rose in 2020: investors believed the pandemic would lead to faster, broader legalization. That is no small feat. 1125 N. Charles St, Baltimore, MD 21201. 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. All rights reserved. Forecast target price for 03-06-2023: $18.97. Draft Kings Annual Report 2021 Form 10K (NASDAQ:DENG) Published: November 5th, 2021PDF generated by stock light. And it shouldnt be profitable, either. However, gaming license delays and a dramatic shift in market sentiment toward bearishness have added risks for the sector. 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). What are analysts forecasts for DKNG stock? If you rely on the information on this page then you do so entirely on your own risk. This transaction is expected to be wrapped up in the next six months and it will add 5 million users to the company. Yamana Gold Inc. (AUY) Stock: What the Analysts are Saying Moreover, I now believe that that the market is clearly valuing the stock based on its 2025 forecast revenue numbers. The company is not only offering an exciting experience to the users, but is also working on building alternative sources of revenue. In short-term stock is facing big hurdles around 23 and 23.5 and there is possibility of major pull-back around the resistance zone. In 2020, DraftKings (NASDAQ:DKNG) stock rose a sizzling 335%. It has a high revenue growth, and the company is putting the money in the right places by partnering with the right players and companies. The DraftKings (DKNG) story began when three co-workers bonded over a shared passion for fantasy sports. Ops) Growth trends, charts, and more. The major market events for the week ahead right in your inbox. 2023 InvestorPlace Media, LLC. NSAV Holding Stock Forecast: down to 0.000001 USD? - NSAV Stock Price The median. Mark Hake writes about personal finance on mrhake.medium.com and runs the Total Yield Value Guidewhich you can reviewhere. Palantir, Alibaba, Square, Google, DraftKings Stocks Cathie Wood's Forecast prices include: Optimistic Forecast, Pessimistic Forecast, Famed short-seller Jim Chanos disclosed his bet against the companys stock, and Chief Executive Officer Jason Robins questioned his concerns on valuations. Optimistic: $21.43, An uptrend is forecast for this month with an optimal target price of $21.0369. 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. Theres even room for more lines. Over that stretch, the S&P 500 has rallied about 20%. The irony is that precisely the same case is playing out again. This is because the market assumes that the sports betting market will continue to grow dramatically. Online gambling app DraftKings (NASDAQ:DKNG) has certainly had an excellent year. In May, the Positive dynamics for Momo shares will prevail with possible monthly volatility of 10.401% volatility is expected. Conversely, DraftKings may post ongoing losses and a break-even quarter starting next year. I also believe its newly-launched NFT platform will work in favor of the company and eventually attract new users to the platform. DraftKings reported revenues of $312 million, representing year-over-year growth of 175%. Change of direction? 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. That came a day after Penn National Gaming (. However, one analyst seems to disagree with this view. Target values for the price of one DraftKings share for May 2025. Another highlight of Q3 2021 was migration from Kambi to its in-house technology platform powered by SBTech. But this result reflected marketing expenses of $228.7 million, or 73.2% of sales. "isTransparent": true, What's in the Offing for DraftKings' (DKNG) Q3 Earnings? You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. I still believe that the upper end of the target is very possible.