call +44 20 3097 8888 support@capital.com. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. It has become a huge hit with sports fanatics. DraftKings is expected to announce Q3 earnings on November 5th, 2021. 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 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. Wallet Investor is bearish on DraftKings stock value, restricting our scope to provide DraftKings stock outlook for 2025-2030. losed Joint Stock Company FinTech Solutions, Future price predictions and analyst forecasts. It has only unlocked a mere fraction of its massive addressable market and will continue growing at a torrid pace. During that time there have been over 4000 blog posts made with over 10,000 charts on the markets and nearly 15 million page . Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. What is the future of DraftKings stock? Financial Statements Analyst Forecast According to 40 analysts, the average rating for DKNG stock is "Buy." With this multi-year sports data agreement, DraftKings will get access to a full portfolio of sports data and content, including official NFL data. She believes in buying and holding for long term gains. Traders also thought sports betting gaming license wins would be positive catalysts. DraftKings is one of the largest operators of fantasy sports services. DraftKings is using aggressive upfront promotions to capture customers that will be profitable over the long haul. The investor bet against Tesla (NASDAQ:TSLA), saying in December 2017 that the stock was worth zero. Therefore, investors should take the report with a grain of salt, and it should not deter them from DKNG stocks bull case. 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 The average DRAFTKINGS INC - CL A stock forecast represents a 43.27% increase from the last price of $14.2600002288818. Ops) Growth trends, charts, and more. The NFL post-season will have strong betting volumes compared to the regular season. The DKNG stock forecast price, according to Market Beat, varies from the low of $23 to the high of $85. The broader pullback in growth stocks is a major reason for the drop. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Last year, according to the American Gaming Association, more than 45 million people planned to wager $3.1 billion on the games. stock price in 2023, 2024, 2025, 2026, 2027. Theres even room for more lines. I still believe that the upper end of the target is very possible. Despite the impact of the pandemic which led to short seasons and canceled tournaments, online sports betting has been consistently growing. 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. With that in mind, lets dig deeper into the driving forces behind DKNG stock. Therefore, the pullback in DKNG stock presents an excellent opportunity for investors to scoop up the stock at a bargain. "locale": "en" Theres even room for more lines. Online gaming company DraftKings (NASDAQ:DKNG) has been the talk of the industry in the past year. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. Meanwhile, costs rose as the pandemic drove higher spending in a number of areas. 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. On 26 January 2021, DKNG stock closed at $54.06. Copyright For convenience, prices are divided by color. 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. And sports betting taxes are a logical source of that revenue. On average, analysts forecast that TTCF's EPS will be -$0.39 for 2023 . Winds light and variable.. Tonight Thats why DKNG stock and other sports betting names rose in 2020: investors believed the pandemic would lead to faster, broader legalization. In the most bullish scenario, readers may assume revenue will grow 60% to 80% over the next five years. Optimistic: $22.41. The bad news for shareholders is that insiders sold more shares in the last 12 months than they bought. 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. And we have a stock thats pulled back substantially from its highs. DraftKings reported revenues of $312 million, representing year-over-year growth of 175%. On Jan. 12, 2022, DraftKings said it will become the official sportsbook provider of the Oregon Lottery. Pessimistic: $18.16. 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. The applications are still pending. About 20.9 million American Investors are compensated by holding a firm belief that it is a leader in the betting field. Plenty of sunshine. Article printed from InvestorPlace Media, https://investorplace.com/2021/08/dkng-stock-is-set-for-growth-with-strong-q2-results-and-partnerships/. The majority of retail investor accounts lose money when trading CFDs. DKNG stock can reach $70 as the company makes all the right moves. Despite the fact that DKNG stock's price has bottomed, the path toward higher levels seem to be challenging. This is a clear sign that DraftKings is attracting users with its unique marketing strategies and its revenue is only trending upward. Today marks another milestone for DraftKings and the future of digital sports entertainment and gaming in America. It continues to innovate and offer new unique features to improve the quality of its service. Indeed, the fact that DraftKings is gaining market share much faster than its peers is a key catalyst for this price target hike. Jason Robins, co-founder and CEO of DraftKings, commented on the merger: DKNG stock launched at $20.49. 1125 N. Charles St, Baltimore, MD 21201. 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. What are analysts' forecasts for DraftKings stock? How much will one DraftKings share be worth in DraftKings has solid potential in the industry and it could become one of the top players by 2023. However, one analyst seems to disagree with this view. Chris Lauis acontributing author for InvestorPlace.com and numerous other financial sites. Her knowledge of words and numbers helps her write clear stock analysis. 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. . 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 . In other words, the markets outlook on the stock will roll over to the next 4-to-5-year sales and EBITDA forecasts. The legalization of online betting has transformed the fortunes DKNG stock, and the company expanded its revenue by more than 70%. The company distributes its product offerings through a variety of channels, including traditional websites, direct app downloads, and direct-to-consumer digital platforms. This is the prior range low. Compared to $213m in revenues for the three months to 30 September 2021, Q3 2020 revenues were at $132m. It continues to push forward in the gaming market, opening up in new markets and offering a more well-rounded experience for its users. Nasdaq Pessimistic: $21.05. Next, in my model, I assume that the companys profitability will increase to about 50% EBITDA (earnings before interest, taxes, depreciation, and amortization) margins. Pessimistic: $19.23. DraftKings is now available in 12 states after its blockbuster launch in Virginia and Michigan. Growing competition is a long-term risk for DraftKings. That came a day after Penn National Gaming (. Dividend yield is a ratio that shows how much a company pays in dividends each year at the stock price. All rights reserved. DraftKings shares closed 1.94% to $52.46 on Friday. Theres even room for more lines. Nevertheless, DKNG stock is now positive for the year (+16.73%), as it closed at $46.56 on Dec. 31. Its a strategy that many other growth companies in many other markets have followed successfully in recent years. LSU gymnast Olivia Dunne ended last week on a high note as she helped the Tigers to a victory over Alabama in her first appearance of the season and Tuesday introduced the "newest recruit.". quotes delayed at least 15 minutes, all others at least 20 minutes. Investors correctly took the long view. Despite the pandemic, DraftKings has seen increases in its user numbers and its market share. Thats a logical strategy. DKNG stock hardly is cheap: it trades at more than 30x 2020 revenue. 1125 N. Charles St, Baltimore, MD 21201. Copyright Change of direction? The median. The fair value of DKNG stock is scaring away investors, but this could create opportunities. What You Should Know. Key support is seen around 15.15 which is expected to be maintained throughout the first half of 2023. EPS shows how much of the net profit is accounted for by the common share. It is already an official sports betting partner of the NFL, which can boost its profile and help DraftKings continue to expand. Skeptics could point to valuation. Nasdaq DraftKings (Nasdaq: DKNG) Stock Forecast We'll start with an explainer about what does DraftKings does. 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. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Trailing P/E depends on what has already been done. Conversely, DraftKings may post ongoing losses and a break-even quarter starting next year. From Q3 2020 to Q3 2021, MUPs grew by approximately 31.37%. He shares his stock picks so readers get original insight that helps improve investment returns. Nasdaq It still has plenty of growth in existing markets as users come on board. Capital Com Online Investments Ltd is a Company registered in the Commonwealth of The Bahamas and authorised by the Securities Commission of The Bahamas with license number SIA-F245. Sign up below to get this incredible offer! But DKNG shouldnt be cheap. In the quarters ahead, DraftKings needs to demonstrate sustained revenue growth as operating expenses declined. (Next month, 2023, 2024, 2025, 2026 and 2027) We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Our 3 Top Picks. 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." 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. Source: Lori. DKNG stock hit all time high earlier in March. 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. DraftKings has reported strong revenues in Q3 2021, but continues to make significant losses. It launched a variant game of blackjack called Spanish21, which is a unique offering among its peers. The story is the same as it was when DKNG was rallying last month and last year. Right now, the stock is oversold, but there are no triggers that would signal a fresh entry. The major market events for the week ahead right in your inbox. Lorem ipsum dolor sit amet, consectetur adipiscing elit. DKNG stock has now risen from a recent closing low on July 16 of $43.79 to $51.98 as of the close on. Close price at the end of the last trading day (Friday, 17th Feb 2023) of the DKNG stock was $20.54. DKNG stock has slipped in the past month without a material change to its bullish narrative. moreover, are not trading signals. The average price predicted for Yamana Gold Inc. (AUY) by analysts is $6.27, which is $0.99 above the current market price. If yes, then on this page you will find useful information about the dynamics of the DKNG stock price in 2022-2027. After all, major sports shut down last year amid the novel coronavirus pandemic. Sign up below to get this incredible offer! Pessimistic: $20.82. 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. Investors now can own that story at a cheaper price. Lorem ipsum dolor sit amet, consectetur adipiscing elit. In addition, I dont think that it matters that much that the estimates I am using relate to 2025. The stock has been trading in the range of $40s for a month and I do not see a breakout point any time soon. Theres even room for more lines. Pessimistic target level: 18.99. All rights reserved. New state launches will continue playing a major role in sustaining its lofty growth numbers in the future. That seems like a reasonable number, especially given the companys existing advantages in the marketplace, which are likely to increase. During pandemic-induced global lockdowns, the popularity of online gaming and betting soared. Once profits can be clearly forecast, the valuation will be based on a discounted measure of their present value. When should I take profit in DraftKings stock? All rights reserved. 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%). The company has made several acquisitions over the year and is constantly growing its presence across different states. In fact, there was a double whammy effect. If this momentum continues, its certainly possible DraftKings could post some blowout quarters. The company is one of the biggest players in the sports betting industry.
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