"colorTheme": "light", For convenience, prices are divided by color. Are you interested in DraftKings Inc. stocks prediction? DKNG share price has been in a bear cycle for the past year. Importantly, its cash burn was US$425m over the trailing twelve months.. Trailing P/E depends on what has already been done. A day after this was announced, the stock lost 0.72%. DraftKings Inc. stock trend is negative. Loop Capital believes the fact that DraftKings has become the No. On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. That implies that DraftKings market share would be slightly less than a quarter by 2025. DKNG stock was up close to 1% when markets. 2023 InvestorPlace Media, LLC. Future price predictions and analyst forecasts 50/200 Day Moving Average: Pessimistic: $21.62. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ark Investments Cathie Wood is a fan of DKNG stock and has bought it time and again. This clearly implies that the market is valuing DKNG many years into the future based on its forecast revenue and profitability. 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 . In Florida, the launch of legalized sports betting stalled. Therefore, look to make at least 34% on DKNG stock as it moves closer to its inherent value of $73 per share. Customers will get a better online sportsbook experience. DKNG stock is promising for the long term and has a massive user base. 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 opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. That seems like a reasonable number, especially given the companys existing advantages in the marketplace, which are likely to increase. 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. It launched a variant game of blackjack called Spanish21, which is a unique offering among its peers. 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. 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. 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. A Bigger Market and a Cheaper Price Make Draftkings Stock a Buy. While DraftKings still operates at a loss, the company's cash burn is . Just from what weve seen so far, the 2020 case for DKNG stock looks like it was on point. 1125 N. Charles St, Baltimore, MD 21201. The company is one of the biggest players in the sports betting industry. Her knowledge of words and numbers helps her write clear stock analysis. Opinions on the stock are mixed, with 2 analysts rating it as a "buy," 0 as "overweight," 6 as "hold," and 2 as "sell.". Nasdaq Pessimistic: $18.40. Eventually, the negative sentiment will reverse. 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. Currently, DKNG trades at roughly $56 per share. 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 DKNG share price has been in a bear cycle for the past year. It began the process for getting Nevada gaming licenses back on March 11, 2020. However, gaming license delays and a dramatic shift in market sentiment toward bearishness have added risks for the sector. Theres even room for more lines. 1125 N. Charles St, Baltimore, MD 21201. That is the reason why I dont feel right now that is important to discount the future sales and EBITDA to the present. Get the free SEC Filings - DraftKings Inc. Class A Common Stock (DKNG) Description . Despite the impact of the pandemic which led to short seasons and canceled tournaments, online sports betting has been consistently growing. DKNG made it to the top 20. Vandita Jadeja is a CPA and a freelance financial copywriter who loves to read and write about stocks. The company made the most of the pandemic and built strong partnerships to build a path for future growth. Its down from $71.98 on March 19 to $54.35. Most recently, it reported its first-quarter earnings in May, which showed that the business was growing at a rapid rate. So what we have here is a company with one of the better growth opportunities in the entire market. 2023 InvestorPlace Media, LLC. Their mutual passion evolved to build a sports betting company with footprints in eight countries. I estimate DraftKings will have at least $2 billion in cash by 2025 from profitability and further warrant issues. The Companys registered office is at Bahamas Financial Centre, 3rd Floor, Shirley and Charlotte Street, P.O. The investor bet against Tesla (NASDAQ:TSLA), saying in December 2017 that the stock was worth zero. When using the forecast data, the investor assumes all financial risks. Yet investors dont seem nearly as excited. DraftKings went public on the Nasdaq on 24 April 2020 through a tri-merger with special purpose acquisition company (SPAC) Diamond Eagle and a Bulgaria-based gaming technology company called SBTech. Traders also thought sports betting gaming license wins would be positive catalysts. This year, 25 state legislatures introduced legislation to legalize online sports betting. For example, as mentioned analysts expect revenue to reach $1.17 billion this year. If you rely on the information on this page then you do so entirely on your own risk. Target values for the price of one DraftKings share for May 2025. From Q3 2020 to Q3 2021, MUPs grew by approximately 31.37%. Is DKNG a good long term stock? 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 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. A key performance indicator is growth in the number of monthly unique payers (MUPs). Interestingly, the company has enough cash to expand the market through acquisitions and it is walking on the right path. The bad news for shareholders is that insiders sold more shares in the last 12 months than they bought. DKNG stock is a buy as it heads closer to $70. This is a clear sign that DraftKings is attracting users with its unique marketing strategies and its revenue is only trending upward. Today, it is one of the top players in the massive sports betting industry. 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 . At least as far as 2020 goes, the rally made more sense than it might have appeared given the short-term headwinds. Naturally, many of these proposals will not make it past the finish line. Tax revenues went down as retail stores and restaurants closed and other businesses pulled back. How much will one DraftKings share be worth in The rest of this article will explain how I value DKNG stock, so you can have a simple understanding of my working model. Copyright Based on our forecasts, a long-term increase is expected, the "NSAV" stock price prognosis for 2028-01-26 is 0.0345 USD. Despite the fact that DKNG stock's price has bottomed, the path toward higher levels seem to be challenging. Optimistic target level: 21.19. These are two of many partnerships the company has formed to increase growth. Forecst.com predicts future values using technical analysis of a large number of analytical parameters. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. Others, like California, need to work through a nest of competing interests. Source: Lori. Sign up below to get this incredible offer! Positive dynamics for DraftKings shares will prevail with possible volatility of 3.660%.Pessimistic target level: 19.25Optimistic target level: 19.98, Forecast target price for 03-10-2023: $19.72. 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. 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. DraftKings is the undisputed king of gaming, with a fantasy sports market share of roughly 30% in the U.S. market. When looking for a long-term forecast, its important to bear in mind that analysts forecasts and price targets can be wrong. According to our research, DKNG stock is a bad long-term investment. and it easily beat analyst forecasts. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. In 2020, DraftKings (NASDAQ:DKNG) stock rose a sizzling 335%. Pessimistic target level: 18.99. What are analysts' forecasts for DraftKings stock? DKNG stock rose 5.58%, up from $25.8 to $27.24 on 8 January 2022. DKNG Stock Down Despite Impressive Price Target Currently, DKNG trades at roughly $56 per share. DKNG stock pulled back despite its stellar performance and growth outlook. 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. Meanwhile, costs rose as the pandemic drove higher spending in a number of areas. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. Compared to $213m in revenues for the three months to 30 September 2021, Q3 2020 revenues were at $132m. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. The company spent around $1.56bn in acquiring Golden Nugget. It has shown volatility since then and is trading much lower at less than $47 today. Optimistic: $21.43, An uptrend is forecast for this month with an optimal target price of $21.0369. On 25 January 2022, Moffett Nathanson slashed its DraftKings stock projection target from $36 to $25, but maintained its neutral rating. DraftKings needs to shrink its expenses in the quarters ahead. Pessimistic: $19.59. Pessimistic: $20.82. News on the political front looks positive. The DKNG stock forecast price, according to Market Beat, varies from the low of $23 to the high of $85. The stock also ran briefly in 2021 and in 2020, as well. DraftKings (DKNG) stock Forecast for 2022 2026, This website uses cookies to ensure you get the best experience on our website. While gambling predictions from the AGA aren't out just yet, we expect to see similar numbers. Copyright Nasdaq DKNG stock looks undervalued considering the potential of the company. Copyright When should I take profit in DraftKings stock? Growing competition is a long-term risk for DraftKings. 1125 N. Charles St, Baltimore, MD 21201. Dont forget that DraftKings has a solid iGaming business where that is available: it has solid market share in New Jersey, for instance. During that time there have been over 4000 blog posts made with over 10,000 charts on the markets and nearly 15 million page . Look at software or e-commerce: most of the biggest winners in those sectors had skeptics hollering about valuation all the way up. According to an algorithmic-based application, Wallet Investor, the share price for DKNG stock could potentially decline to $0.000001 by March 2023. During pandemic-induced global lockdowns, the popularity of online gaming and betting soared. Skeptics could point to valuation. It will also help reduce the losses of DraftKings as Golden Nugget is a solid, revenue-generating company. I believe DKNG stock will certainly reach the all-time high again, but it may take some time. A16 ated in 2021 to move the talc Major U.S. stock indexes injury . In the first quarter of 2021, DKNG's total net revenues surged 146% year-over-year to $322 million. Copyright Profits are likely a couple of years away. Just a potential class action/investigation for Hindenburg hit piece 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. Article printed from InvestorPlace Media, https://investorplace.com/moneywire/2021/04/bigger-market-cheaper-price-make-dkng-stock-buy/. But this result reflected marketing expenses of $228.7 million, or 73.2% of sales. Although the recent deal withEntain Plcdid not work out, DraftKings made several partnerships and acquisitions that will work in its favor. 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. 2023 InvestorPlace Media, LLC. 2023 InvestorPlace Media, LLC. 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 company is not only offering an exciting experience to the users, but is also working on building alternative sources of revenue. Today marks another milestone for DraftKings and the future of digital sports entertainment and gaming in America. All rights reserved. On the date of publication, Vandita Jadejadid not have (either directly or indirectly) any positions in the securities mentioned in this article. Chris Lauis acontributing author for InvestorPlace.com and numerous other financial sites. Be that as it may, short sellers typically have vested interests in spreading such news. On the date of publication, Chris Lau did not have (either directly or indirectly) any positions in the securities mentioned in this article. That is not normal. This happens once a day. In late summer 2021, DraftKings (NASDAQ:DKNG) rebounded to more than $60 and looked ready to find a new high. 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. 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. 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. Famed short-seller Jim Chanos disclosed his bet against the companys stock, and Chief Executive Officer Jason Robins questioned his concerns on valuations. Over the past year, it has become difficult to argue the bull case for Lucid Motors (NASDAQ:LCID). All rights reserved. DraftKings Stock Forecast: heading to $15. Article printed from InvestorPlace Media, https://investorplace.com/2022/01/why-dkng-stock-is-out-of-favor-despite-its-strong-prospects/. Counted STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10K/A Fill & Sign Online, Print, Email, Fax, or Download . DraftKings reported revenues of $312 million, representing year-over-year growth of 175%. Copyright 2023 InvestorPlace Media, LLC. Right from the comfort of your home, you can engage in a game and socialize with your friends. With March Madness just days away, keep an eye on gambling stocks. In late summer 2021, DraftKings (NASDAQ: DKNG) rebounded to more than $60 and looked ready to find a new high. call +44 20 3097 8888 support@capital.com. Pessimistic: $19.26. Mark Hake writes about personal finance on mrhake.medium.com and runs the Total Yield Value Guidewhich you can reviewhere. DraftKings reported a better-than-expected quarter with, Strategic Partnerships That Will Lead Growth. 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 The company recently acquired Golden Nugget (NASDAQ:GNOG), an online gambling service, for an all-stock transaction worth $1.56 billion. All rights reserved. I have my hopes pinned on this partnership which will help expand the company. Nasdaq By 2025, the sports betting industry is projected to be worth $15 billion. On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. 1125 N. Charles St, Baltimore, MD 21201. FAQ. However, a report from short-seller Hindenburg Research has most recently been a thorn in its side. About 20.9 million American For DraftKings stocks, the 200-day moving average is the support level today. Forward P/E uses projections of future earnings instead of final numbers. On Jan. 12, 2022, DraftKings said it will become the official sportsbook provider of the Oregon Lottery. Over that stretch, the S&P 500 has rallied about 20%. DraftKings and Penn National Gamings (NASDAQ:PENN) Barstool Sports are seeking petition signers to support adding sports betting to the Florida ballot. DraftKings has a strong leadership team that is extremely passionate about taking the company to the next level. Optimistic: $20.20 DraftKings Stock Prediction for Apr 2023 Sure, market conditions have been a big reason why LCID stock has fallen from $25 to under $10 . On 26 January 2021, DKNG stock closed at $54.06. Chris has over 20 years of investing experience in the stock market and runs the Do-It-Yourself Value Investing Marketplace on Seeking Alpha. 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. DraftKings is now available in 12 states after its blockbuster launch in Virginia and Michigan. 1125 N. Charles St, Baltimore, MD 21201. Let's take a look at a DraftKings stock forecast and find out. Change of direction? The average price predicted for Yamana Gold Inc. (AUY) by analysts is $6.27, which is $0.99 above the current market price. The point is that it was undervalued and likely to rise. Optimistic: $22.41. The average price target is $22.86 with a high forecast of $30.00 and a low forecast of $15.00. According to its forecast, as of 27 January 2022, the DraftKings future stock price could potentially decline to 0.000001 by March 2023. }. We will see a lot of action around the start of this years football season. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. $14.51 / $14.65. I expect that will change in short order, at which point DKNG will resume its rally. Poteau, OK (74953) Today. This is when DraftKings will make the right moves to widen its market share and grow revenue. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. Shares of the Boston-based company sank as much as 19% in New York, their biggest drop since March 2020. So far in 2021, DKNG has gained another 21% though that includes the recent sell-off from last month's highs. In Q3 2020, it was $1.02m. What is TTCF's Earnings Per Share (EPS) forecast for 2023-2024? One of the states that introduced legislation in 2021 in New York, which boasts a population of over 19 million. 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. losed Joint Stock Company FinTech Solutions, Future price predictions and analyst forecasts. quotes delayed at least 15 minutes, all others at least 20 minutes. It continues to push forward in the gaming market, opening up in new markets and offering a more well-rounded experience for its users. The major market events for the week ahead right in your inbox. Famed money manager Cathie Wood, chief executive of Ark Investment Management, pared . 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 . Theres even room for international expansion over time, as DraftKings has offices in Europe as well. The fair value of DKNG stock is scaring away investors, but this could create opportunities. According to our research, DKNG stock is a bad long-term investment. Lets dive into the analyst that just gave DKNG stock a big upgrade today. This win will lift the companys brand awareness and give it an edge over the competition. He shares his stock picks so readers get original insight that helps improve investment returns. The third-quarter results may take the stock higher to the $50s. If DKNG breaks this level, then support will drop to $15 and $11 . With this multi-year sports data agreement, DraftKings will get access to a full portfolio of sports data and content, including official NFL data. All rights reserved. Shares still are below early October highs. Positive dynamics for DraftKings shares will prevail with possible volatility of 2.566%.Pessimistic target level: 18.95Optimistic target level: 19.45, Forecast target price for 03-08-2023: $19.34. The lists should serve as a good starting point to find ideas to invest . Close price at the end of the last trading day (Friday, 17th Feb 2023) of the DKNG stock was $20.54. DraftKings is one of the largest operators of fantasy sports services. On the date of publication, Vandita Jadeja did not have (either directly or indirectly) any positions in the securities mentioned in this article. Nasdaq In the quarters ahead, DraftKings needs to demonstrate sustained revenue growth as operating expenses declined. We forecast DraftKings stock performance using neural networks based on historical data on DraftKings stocks. Our forward-looking statements include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions or strategies . Though some of the sales are automated, this will give investors a negative perception of the DKNG stock value. For the year ended Dec. 31, 2022, DraftKings reported revenue of $2.2 billion, which represented 69% growth year over year. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/dkng-stock-should-rise-by-34-based-on-revenue-projections/. After all, right now the stock has a huge price-to-sales ratio. The company still risks losing customers to competitors. It has become a huge hit with sports fanatics. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. Investors need not fear Chanos assertions. DraftKings told investors on Friday that it expected to reach profitability by one financial measure in late 2023. stock price in 2023, 2024, 2025, 2026, 2027. After marking a high of 74, it made a lower high of 64. worth $1.56 billion. All rights reserved. However, the online sportsbook market is in its infancy at this stage. The difference between trading assets and CFDs. DKNG stock can reach $70 as the company makes all the right moves. 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. Moreover, the company has a keen eye for innovation and introduced several new features to drive engagement on its platform. Its a strategy that many other growth companies in many other markets have followed successfully in recent years. Pessimistic: $21.43. multiplying the number of shares in the company outstanding by the market price of one share. Theres even room for more lines. Snapped up 210,644 shares estimated to be worth about $11.05 million in DraftKings Inc (NASDAQ:DKNG) on the dip. The applications are still pending. All rights reserved. Theres even room for more lines. Thats a logical strategy. Join the 500.000+ traders worldwide that chose to trade with Capital.com, Also you can contact us: Key support is seen around 15.15 which is expected to be maintained throughout the first half of 2023. 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 . 1125 N. Charles St, Baltimore, MD 21201. The pandaforecast.com portal is not responsible for the loss of your money in the stock market Optimistic: $23.33, An downtrend is forecast for this month with an optimal target price of $22.3121. The average Tattooed Chef stock price prediction forecasts a potential upside of 437.19% from the current TTCF share price of $1.21. The stock is above fair value at current levels. Her knowledge of words and numbers helps her write clear stock analysis. Once profits can be clearly forecast, the valuation will be based on a discounted measure of their present value. It uses the current share price and divides it by the total earnings per share for the last 12 months. That is a price-to-sales multiple of 19.2 times. 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. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. 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. Click here to see what Matt has up his sleeve now. However, one analyst seems to disagree with this view. The company has made several acquisitions over the year and is constantly growing its presence across different states. Draftkings has been making some interesting acquisitions lately including the recent deal to acquire Golden Nugget Online Gaming in an all-stock deal valued at approximately $1.56 billion, which will eventually allow the company to move into the lucrative Nevada sports wagering market. P/E ratio (price to earnings) - shows the ratio between the price of a share and the company's profit. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. But DKNG stock actually has suffered. For those of you just seeing this! What are analysts forecasts for DKNG stock? Investors correctly took the long view. Of course, today is another bloodbath in the markets. 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. quotes delayed at least 15 minutes, all others at least 20 minutes.
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