However, the online sportsbook market is in its infancy at this stage. 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, 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. Here Are 10 Other Analyst Forecasts For Tuesday Feb. 21, 2023 at. Source: Lori. DKNG (DKNG) Monthly Stock Prediction for 2023 Full forecast for 2023 DraftKings forecast for this year DraftKings Stock Prediction for Mar 2023 An uptrend is forecast for this month with an optimal target price of $ 18.9448. If online sports betting is legalized in all states, the numbers could be significantly higher. During the day the stock fluctuated 9.96% from a day low at $19.28 to a day high of $21.20. These are two of many partnerships the company has formed to increase growth. Are you interested in DraftKings Inc. stocks and want to buy them, or are they already in your portfolio? On 26 January 2021, DKNG stock closed at $54.06. Nasdaq On the date of publication, Chris Lau did not have (either directly or indirectly) any positions in the securities mentioned in this article. For example, Seeking Alpha indicates that on average analysts estimate revenue will reach $3.58 billion by 2025. According to an algorithmic-based application, Wallet Investor, the share price for DKNG stock could potentially decline to $0.000001 by March 2023. Yet here in 2021, the market seems to have forgotten that 2020 case. Investors now can own that story at a cheaper price. DraftKings Stock Forecast: heading to $15. In Florida, the launch of legalized sports betting stalled. The company defines MUPs as users who have paid engagement across one or more product offerings. DraftKings was even named an official partner of the National Football League, the biggest league for U.S. gambling. When should I take profit in DraftKings stock? 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. 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. I have my hopes pinned on this partnership which will help expand the company. Jefferies forecasts a 2.8 percent decline for the consumer . Thats why DKNG stock and other sports betting names rose in 2020: investors believed the pandemic would lead to faster, broader legalization. This is because the market assumes that the sports betting market will continue to grow dramatically. and Weighted Average Best Forecast. The DKNG stock forecast price, according to Market Beat, varies from the low of $23 to the high of $85. Optimistic: $23.33, An downtrend is forecast for this month with an optimal target price of $22.3121. DKNG stock is a buy as it heads closer to $70. This is massive growth and DraftKings will play a major role here. Over that stretch, the S&P 500 has rallied about 20%. It still has plenty of growth in existing markets as users come on board. By bringing together our leading consumer brand, data science expertise and industry-leading products with SBTechs proven technology platform, we will accelerate our innovation, growth and scale. Pessimistic: $17.34. The New York Times was among the many media organizations in 2020 that pushed the narrative that the COVID lab leak theory was some sort of wild conspiracy being pushed by the far right.. As the Times reported earlier this week, "new intelligence has prompted the Energy Department to conclude that an accidental laboratory leak in China most likely caused the coronavirus pandemic." Interestingly, the company has enough cash to expand the market through acquisitions and it is walking on the right path. Theres even room for international expansion over time, as DraftKings has offices in Europe as well. DraftKings reported a better-than-expected quarter with, Strategic Partnerships That Will Lead Growth. High 56F. The sports betting industry is massive, DraftKings is in a growth stage and there is huge potential to expand. Pessimistic: $19.59. Article printed from InvestorPlace Media, https://investorplace.com/2021/08/dkng-stock-is-set-for-growth-with-strong-q2-results-and-partnerships/. Just a potential class action/investigation for Hindenburg hit piece So what we have here is a company with one of the better growth opportunities in the entire market. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Chris has over 20 years of investing experience in the stock market and runs the Do-It-Yourself Value Investing Marketplace on Seeking Alpha. Once investors grow more confident that the business is profitable, they will accumulate shares. 1125 N. Charles St, Baltimore, MD 21201. 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. As its business attracts customer growth, revenue will rise. If DKNG breaks this level, then support will drop to $15 and $11 . Investors correctly took the long view. What Is the Best EV Stock to Buy Now? It appears the annual fall selloff has come early this year. 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 . With strategic acquisitions and partnerships, DraftKings is putting its money in the right place. More no doubt are on the way. This year, 25 state legislatures introduced legislation to legalize online sports betting. Therefore, look to make at least 34% on DKNG stock as it moves closer to its inherent value of $73 per share. For example, as mentioned analysts expect revenue to reach $1.17 billion this year. One of the states that introduced legislation in 2021 in New York, which boasts a population of over 19 million. DraftK ings Inc. headquartered in Boston, Massachusetts. The stock will go higher in the coming months and this dip is a good chance to enter. 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. The average of price targets set by Wall Street analysts indicates a potential upside of 27.7% in DraftKings (DKNG). Within a week from the third quarter financial results being made public, the DKNG stock price had fallen by 7.12%. That is not normal. Forecast prices include: Optimistic Forecast, Pessimistic Forecast, 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. The rest of this article will explain how I value DKNG stock, so you can have a simple understanding of my working model. DKNG stock emerged in 2020 through a blank check merger and there is no stopping the companys momentum. 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, Vandita Jadeja did not have (either directly or indirectly) any positions in the securities mentioned in this article. 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, 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. ET on Zacks.com DraftKings To Rally Around 38%? Indeed, this is certainly a big boon for business, should this trend continue. On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. Pessimistic: $21.05. The irony is that precisely the same case is playing out again. Forecst.com predicts future values using technical analysis of a large number of analytical parameters. 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 . Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Is This the Best Way to Invest in the AI Gold Rush? The final quotes of the instrument at the close of the previous trading day are a signal to adjust the forecasts for DraftKings shares. In fact, DKNG ran from about $15.50 to just above $21 at the start of the tournament. Thats because valuation isnt based on a metric or two in a given way. DraftKings stock is lower by 10.41 percent over the past month, and the gaming name shed 29.15 percent from its March highs. And yet DKNG stock has faded over the past month. Article printed from InvestorPlace Media, https://investorplace.com/moneywire/2021/04/bigger-market-cheaper-price-make-dkng-stock-buy/. The point is that it was undervalued and likely to rise. quotes delayed at least 15 minutes, all others at least 20 minutes. All rights reserved. Therefore, the pullback in DKNG stock presents an excellent opportunity for investors to scoop up the stock at a bargain. Optimistic: $23.47, An downtrend is forecast for this month with an optimal target price of $20.8086. The market is getting competitive, and new markets will allow DraftKings to cement its authority and expand its revenue base to new heights. While the effectiveness of this highly sought-after metric is questionable,. Meanwhile, costs rose as the pandemic drove higher spending in a number of areas. Market capitalization is the total market value of all issued shares of a company. 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. Next, I multiply the EBITDA number by 15 times to value those earnings. What Is the Best EV Stock to Buy Now? DKNG stock is down more than 35% from its highs in March. On 25 January 2022, Moffett Nathanson slashed its DraftKings stock projection target from $36 to $25, but maintained its neutral rating. This achievement will complement the companys goal of building a top-rated online sportsbook. But note that past performance is no guarantee of future results. When it reports results next quarter, investors should look at the companys operating margins closely. 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. multiplying the number of shares in the company outstanding by the market price of one share. All rights reserved. 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. Traders also thought sports betting gaming license wins would be positive catalysts. That represents a drop of 24.5% over 3 months. 1125 N. Charles St, Baltimore, MD 21201. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. Forecasts shouldn't be used as a substitute for your own research. Wallet Investor is bearish on DraftKings stock value, restricting our scope to provide DraftKings stock outlook for 2025-2030. 1125 N. Charles St, Baltimore, MD 21201. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. 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. A company with a weak moat has a broken business model. According to our research, DKNG stock is a bad long-term investment. As the wave of legalization of OSB continues in the country, DraftKings has a shot at stamping its authority on the sector. 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. Here's one analyst price target investors in DraftKings may want to pay attention to. Our forward-looking statements include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions or strategies . Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. Lorem ipsum dolor sit amet, consectetur adipiscing elit. My new valuation is $73 per share, or 34.2% higher than today. Leidos's latest twelve months net income to stockholders (cont. The company is not only offering an exciting experience to the users, but is also working on building alternative sources of revenue. The applications are still pending. All rights reserved. Our 3 Top Picks. 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 short float on DKNG stock is around 10%. Moreover, given that estimates for 2021 are for $1.17 billion, this implies a 4-year growth rate of 205.9%. 222 Berkeley Street, Boston, MA, 02116, United States. Optimistic: $23.03, An downtrend is forecast for this month with an optimal target price of $21.7914. Additionally, it also launches social media features on its platform, enabling customers to interact and share their bets effectively. DKNG Forecast. Always conduct your own due diligence before investing. Financial Statements Analyst Forecast According to 40 analysts, the average rating for DKNG stock is "Buy." About 20.9 million American The average Tattooed Chef stock price prediction forecasts a potential upside of 437.19% from the current TTCF share price of $1.21. "locale": "en" As a result of strong engagement and cross-selling initiatives, average revenue per MUP (ARPMUP) increased by 38.23%, from $34 to $47. Right now, the stock is oversold, but there are no triggers that would signal a fresh entry. This win will lift the companys brand awareness and give it an edge over the competition. I also believe its newly-launched NFT platform will work in favor of the company and eventually attract new users to the platform. 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. For example, in its latest quarter (Q1), DraftKings had an adjusted EBITDA loss of $139.3 million on revenues of $312.7 million. Copyright 2023 InvestorPlace Media, LLC. 2023 - 2027? An analysts DraftKings stock analysis is based on making fundamental and technical studies of the stocks performance. In other words, the markets outlook on the stock will roll over to the next 4-to-5-year sales and EBITDA forecasts. Draft Kings Annual Report 2021 Form 10K (NASDAQ:DENG) Published: November 5th, 2021PDF generated by stock light. Importantly, its cash burn was US$425m over the trailing twelve months.. Box N-4865, Nassau, Bahamas. Look at software or e-commerce: most of the biggest winners in those sectors had skeptics hollering about valuation all the way up. That forecast, however, was overshadowed by a wider-than-expected projected loss. It has shown volatility since then and is trading much lower at less than $47 today. 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. 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 . 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. From Q3 2020 to Q3 2021, MUPs grew by approximately 31.37%. On 5 November 2021, DraftKings released its Q3 2021 financial results. This is 15.33% more than the trading day before Thursday, 16th Feb 2023. DKNG stock pulled back despite its stellar performance and growth outlook. Thats a logical strategy. Wood's flagship Ark Innovation ETF has slid 43% during the past year, but has rebounded 23% so far this year. Therefore, assuming 50% margins, EBITDA will reach $1.79 billion by 2025. Copyright 2023 InvestorPlace Media, LLC. On the date of publication, Vandita Jadeja did not have (either directly or indirectly) any positions in the securities mentioned in this article. Opinions on the stock are mixed, with 2 analysts rating it as a "buy," 0 as "overweight," 6 as "hold," and 2 as "sell.". All rights reserved. That includes DraftKings (DKNG), which just caught double bottom support around $18 - and could see higher highs. And now New York, the countrys fourth-most populous state, is launching mobile wagering. Are you interested in DraftKings Inc. stocks prediction? Copyright 2023 InvestorPlace Media, LLC. Given our strong start to 2021 and underlying acquisition, retention, and monetization of players, we are increasing our guidance to $1.05 billion to $1.15 billion of revenue for 2021, which. It is already an official sports betting partner of the NFL, which can boost its profile and help DraftKings continue to expand. Most recently, it reported its first-quarter earnings in May, which showed that the business was growing at a rapid rate. DraftKings is now available in 12 states after its blockbuster launch in Virginia and Michigan. Today marks another milestone for DraftKings and the future of digital sports entertainment and gaming in America. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The company has made several acquisitions over the year and is constantly growing its presence across different states. DKNG stock can reach $70 as the company makes all the right moves. 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. Tax revenues went down as retail stores and restaurants closed and other businesses pulled back. (Next month, 2023, 2024, 2025, 2026 and 2027) Pessimistic: $19.26. losed Joint Stock Company FinTech Solutions, Future price predictions and analyst forecasts. This is when DraftKings will make the right moves to widen its market share and grow revenue. Profits are likely a couple of years away. In the first quarter of 2021, DKNG's total net revenues surged 146% year-over-year to $322 million. Loop Capital believes the fact that DraftKings has become the No. In Q3 2020, it was $1.02m. demicshowering cash on hasn't had to lay off workers. Optimistic: $20.20, An uptrend is forecast for this month with an optimal target price of $19.695. Yet investors dont seem nearly as excited. "isTransparent": true, Online gambling app DraftKings (NASDAQ:DKNG) has certainly had an excellent year. EBITDA is earnings before interest, income tax and depreciation of assets. The stock has been trading in the range of $40s for a month and I do not see a breakout point any time soon. What are analysts forecasts for DKNG stock? Article printed from InvestorPlace Media, https://investorplace.com/2021/07/buy-the-dip-in-dkng-stock-for-its-incredible-growth-outlook/. Arizona came on board last week. The stock is above fair value at current levels. Shares Short Prior Month - the number of shares in short positions in the last month. For the three months ended September 2021, revenue from MUPs was reported at $1.34m. At least as far as 2020 goes, the rally made more sense than it might have appeared given the short-term headwinds. Any sort of adjustment to a growth stock such as DKNG higher is bullish for investors over the near term. During pandemic-induced global lockdowns, the popularity of online gaming and betting soared. Moreover, the company has a keen eye for innovation and introduced several new features to drive engagement on its platform. Her knowledge of words and numbers helps her write clear stock analysis. Last month I wrote that DraftKings (NASDAQ:DKNG) was worth between $60.61 and $74.59 when DKNG stock was at $44.50 on May 20. That would validate Chanos short position because the stock trades well above its fair value. The broader pullback in growth stocks is a major reason for the drop. The company spent around $1.56bn in acquiring Golden Nugget. A16 ated in 2021 to move the talc Major U.S. stock indexes injury . 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. For DraftKings stocks, the 200-day moving average is the support level today. What Is the Best EV Stock to Buy Now? Click here to see what Matt has up his sleeve now. Despite the impact of the pandemic which led to short seasons and canceled tournaments, online sports betting has been consistently growing. moreover, are not trading signals. 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. Indeed, the fact that DraftKings is gaining market share much faster than its peers is a key catalyst for this price target hike. Without it, the firm cannot have the title of a national sports betting, online casino and daily fantasy sports firm. A key performance indicator is growth in the number of monthly unique payers (MUPs). and it easily beat analyst forecasts. Just from what weve seen so far, the 2020 case for DKNG stock looks like it was on point. All rights reserved. 1125 N. Charles St, Baltimore, MD 21201. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. Optimistic: $23.78, An uptrend is forecast for this month with an optimal target price of $22.4839. 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.. Sign up below to get this incredible offer! Optimistic target level: 21.19. DraftKings is one of the largest operators of fantasy sports services. Its a strategy that many other growth companies in many other markets have followed successfully in recent years. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Conversely, DraftKings may post ongoing losses and a break-even quarter starting next year. Compared to $213m in revenues for the three months to 30 September 2021, Q3 2020 revenues were at $132m. Considering the potential of the company and the industry to cater to, DKNG stock is well positioned at the current level. Plenty of sunshine. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. Shareholders will need to wait for the Board to review and approve DraftKings gaming license. The stock also ran briefly in 2021 and in 2020, as well. DraftKings shares closed 1.94% to $52.46 on Friday. Pessimistic target level: 18.99. At one point, the platforms most popular sport was Ukrainian table tennis. DKNG stock has slipped in the past month without a material change to its bullish narrative. Its difficult to see why. What You Should Know. DraftKings (DKNG) Surges Post Earnings: ETFs in Focus Feb. 21, 2023 at 1:00 p.m. 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. 1125 N. Charles St, Baltimore, MD 21201. Future price predictions and analyst forecasts On a compounded basis, that works out to 32.2% average annual growth in sales. With more states legalizing sports betting, the company has grown significantly. In November 2021, the federal court made a ruling that puts an end to sports betting legalization. After all, major sports shut down last year amid the novel coronavirus pandemic. Copyright By 2025, the sports betting industry is projected to be worth $15 billion. , the online sports betting industry will go from $9.5 billion in 2020 to $37 billion in 2025. 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. The data suggest that this NFL season is bringing a flurry of activity to DraftKings platform much greater than what analysts predicted. All rights reserved. Losses were -$1.38 billion, -9.53% less than in 2021. DKNG stock has now risen from a recent closing low on July 16 of $43.79 to $51.98 as of the close on. 50/200 Day Moving Average: Target values for the price of one DraftKings share for May 2025. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Theres even room for more lines. Despite the fact that DKNG stock's price has bottomed, the path toward higher levels seem to be challenging. The deal will help increase revenue and attract new users to DraftKings. Key support is seen around 15.15 which is expected to be maintained throughout the first half of 2023. Lorem ipsum dolor sit amet, consectetur adipiscing elit. DraftKings reported revenues of $312 million, representing year-over-year growth of 175%. In the quarters ahead, DraftKings needs to demonstrate sustained revenue growth as operating expenses declined. Dont forget that DraftKings has a solid iGaming business where that is available: it has solid market share in New Jersey, for instance. These are two of many partnerships the company has formed to increase growth. With this multi-year sports data agreement, DraftKings will get access to a full portfolio of sports data and content, including official NFL data.