DraftKings (DKNG) Surges Post Earnings: ETFs in Focus Feb. 21, 2023 at 1:00 p.m. That is a price-to-sales multiple of 19.2 times. DKNG Historical Ratings and Targets. Theres a simple reason why DKNG and other sports betting stocks rallied in 2020. The point is that it was undervalued and likely to rise. The chart below shows the historical price of DraftKings stock and a prediction chart for the next month. The average price predicted for Yamana Gold Inc. (AUY) by analysts is $6.27, which is $0.99 above the current market price. moreover, are not trading signals. The entire focus for traders interested in DKNG is $17.41. This is because the market assumes that the sports betting market will continue to grow dramatically. 50/200 Day Moving Average: 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. Pessimistic: $19.26. The DKNG stock forecast price, according to Market Beat, varies from the low of $23 to the high of $85. 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.. demicshowering cash on hasn't had to lay off workers. DraftKings Inc., Tesla, H&R Block, Inc., among others, are approaching price targets. Copyright 2023 InvestorPlace Media, LLC. A day after this was announced, the stock lost 0.72%. And yet DKNG stock has faded over the past month. DraftKings will report third-quarter results on Nov 5. Sign up below to get this incredible offer! Moreover, given that estimates for 2021 are for $1.17 billion, this implies a 4-year growth rate of 205.9%. The third-quarter results may take the stock higher to the $50s. Still, DraftKings heavy advertising spending is temporary. Pessimistic: $17.34. Forecast prices include: Optimistic Forecast, Pessimistic Forecast, The sports betting sector is deeply out of favor. In the same report you can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12-24 months. According to our research, DKNG stock is a bad long-term investment. Draft Kings Annual Report 2021 Form 10K (NASDAQ:DENG) Published: November 5th, 2021PDF generated by stock light. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/dkng-stock-should-rise-by-34-based-on-revenue-projections/. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. All rights reserved. In the quarters ahead, DraftKings needs to demonstrate sustained revenue growth as operating expenses declined. By 2025, the sports betting industry is projected to be worth $15 billion. The rest of this article will explain how I value DKNG stock, so you can have a simple understanding of my working model. Article printed from InvestorPlace Media, https://investorplace.com/2021/08/dkng-stock-is-set-for-growth-with-strong-q2-results-and-partnerships/. 5 Penny Cryptos With the Most Potential for Growth, 3 Cream-of-the-Crop Growth Stocks to Buy for 2023, Michael Burry Is Betting Big on These 2 AI Stocks, DraftKings Is Set for Growth With Strong Q2 Results and Partnerships. On the date of publication, Chris Lau did not have (either directly or indirectly) any positions in the securities mentioned in this article. Optimistic: $20.56, An uptrend is forecast for this month with an optimal target price of $19.8683. But note that past performance is no guarantee of future results. In the most bullish scenario, readers may assume revenue will grow 60% to 80% over the next five years. 2023 Capital Com Online Investments Ltd. It still has plenty of growth in existing markets as users come on board. The median. 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. Sure, market conditions have been a big reason why LCID stock has fallen from $25 to under $10 . 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.". We use cookies to ensure that we give you the best experience on our website. That is the reason why I dont feel right now that is important to discount the future sales and EBITDA to the present. Copyright Ark Investments Cathie Wood is a fan of DKNG stock and has bought it time and again. When it reports results next quarter, investors should look at the companys operating margins closely. DKNG stock hardly is cheap: it trades at more than 30x 2020 revenue. Although the recent deal withEntain Plcdid not work out, DraftKings made several partnerships and acquisitions that will work in its favor. 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. Copyright 2023 InvestorPlace Media, LLC. The firm may achieve that target if sports betting volumes grow in the year ahead. Despite the pandemic, DraftKings has seen increases in its user numbers and its market share. DKNG share price has been in a bear cycle for the past year. Tax revenues went down as retail stores and restaurants closed and other businesses pulled back. As the pandemic slowly changes how we engage with sports, DraftKings has a lot to look forward to. DKNG Stock 12 Months Forecast $22.86 (23.04% Upside) Based on 21 Wall Street analysts offering 12 month price targets for DraftKings in the last 3 months. With March Madness just days away, keep an eye on gambling stocks. Theres even room for more lines. This implies that DKNG stock is now worth about $73 per share, or 34% above todays price. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. Another highlight of Q3 2021 was migration from Kambi to its in-house technology platform powered by SBTech. During pandemic-induced global lockdowns, the popularity of online gaming and betting soared. What is TTCF's Earnings Per Share (EPS) forecast for 2023-2024? The stock has been trading in the range of $40s for a month and I do not see a breakout point any time soon. Nasdaq This clearly implies that the market is valuing DKNG many years into the future based on its forecast revenue and profitability. 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%). "locale": "en" Sign up below to get this incredible offer! Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. He argues that sports bettingcould reach $15 billion in 2025, up from $3 billion in 2020. With more states legalizing sports betting, the company has grown significantly. Lorem ipsum dolor sit amet, consectetur adipiscing elit. On the date of publication, Vandita Jadeja did not have (either directly or indirectly) any positions in the securities mentioned in this article. Optimistic: $22.82, An uptrend is forecast for this month with an optimal target price of $22.6105. If you continue to use this site we will assume that you are happy with it. DraftKings is using aggressive upfront promotions to capture customers that will be profitable over the long haul. Since then, the stock has lost 64.26% in value, reaching $20.33, at the time of writing (27 January 2022). If customers shop for a better sports betting platform, DraftKings stock will face selling pressure. multiplying the number of shares in the company outstanding by the market price of one share. Nasdaq Article printed from InvestorPlace Media, https://investorplace.com/moneywire/2021/04/bigger-market-cheaper-price-make-dkng-stock-buy/. Bears may justify the ongoing losses as a reason to bet against the company. The median. DraftKings Inc. stock trend is negative . 222 Berkeley Street, Boston, MA, 02116, United States. On the date of publication, Vandita Jadeja did not have (either directly or indirectly) any positions in the securities mentioned in this article. Keep in mind that DKNG stock is well off of its highs. 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. Over that stretch, the S&P 500 has rallied about 20%. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. That came a day after Penn National Gaming (. Our 3 Top Picks. Despite the impact of the pandemic which led to short seasons and canceled tournaments, online sports betting has been consistently growing. Are you interested in DraftKings Inc. stocks prediction? Sports betting has. 1125 N. Charles St, Baltimore, MD 21201. Meanwhile, costs rose as the pandemic drove higher spending in a number of areas. Today marks another milestone for DraftKings and the future of digital sports entertainment and gaming in America. Copyright Accordingly, investors in risk assets appear to be rethinking their positions today. DraftKings (DKNG) (Delayed Data from NSDQ) $18.86 USD +0.06 (0.32%) Updated Feb 28, 2023 04:00 PM ET After-Market: $18.69 -0.17 (-0.90%) 7:58 PM ET Add to portfolio Zacks Rank: 2-Buy 2 Style. All rights reserved. The majority of retail investor accounts lose money when trading CFDs. Importantly, its cash burn was US$425m over the trailing twelve months.. The investor bet against Tesla (NASDAQ:TSLA), saying in December 2017 that the stock was worth zero. All rights reserved. In multiple states, voters passed referendums legalizing sports betting in November. 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. And sports betting taxes are a logical source of that revenue. DraftKings Stock Forecast: heading to $15. During pandemic-induced global lockdowns, the popularity of online gaming and betting soared. 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 . 1125 N. Charles St, Baltimore, MD 21201. 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. Its about the long term. In late summer 2021, DraftKings (NASDAQ:DKNG) rebounded to more than $60 and looked ready to find a new high. In fact, there was a double whammy effect. One of the hottest stocks right now,DraftKings(NASDAQ:DKNG), has been an intriguing company to watch. An analysts DraftKings stock analysis is based on making fundamental and technical studies of the stocks performance. This stock market technical analysis blog has been live since October 2009 (over 13 years), providing unbiased stock market technical analysis of the SP-500, Gold and more that ignores the white noise of news and politics. 1125 N. Charles St, Baltimore, MD 21201. If you rely on the information on this page then you do so entirely on your own risk. 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. During the day the stock fluctuated 9.96% from a day low at $19.28 to a day high of $21.20. Moreover, its not as if theres any bad news driving the pullback. Of course, today is another bloodbath in the markets. ops) growth is -8.7%.. View Leidos Holdings, Inc.'s Net Income to Stockholders (Cont. (Next month, 2023, 2024, 2025, 2026 and 2027) While DraftKings still operates at a loss, the company's cash burn is . On March 02, 2023, the average . That includes DraftKings (DKNG), which just caught double bottom support around $18 - and could see higher highs. The legalization of online betting has transformed the fortunes DKNG stock, and the company expanded its revenue by more than 70%. 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. Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes. The material provided on this website is for information purposes only and should not be understood as an investment advice. In fact, DKNG ran from about $15.50 to just above $21 at the start of the tournament. The company recently released Q2 earnings and it easily beat analyst forecasts. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Once profits can be clearly forecast, the valuation will be based on a discounted measure of their present value. Optimistic: $20.20, An uptrend is forecast for this month with an optimal target price of $19.695. DKNG Stock Down Despite Impressive Price Target Currently, DKNG trades at roughly $56 per share. For DraftKings stocks, the 50-day moving average is the support level today. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. The sports betting industry is massive, DraftKings is in a growth stage and there is huge potential to expand. What is the future of DraftKings stock? Change of direction? For example, in its latest quarter (Q1), DraftKings had an adjusted EBITDA loss of $139.3 million on revenues of $312.7 million. However, gaming license delays and a dramatic shift in market sentiment toward bearishness have added risks for the sector. In Florida, the launch of legalized sports betting stalled. Since then, the stock has lost 64.26% in value, reaching $20.33, at the time of writing (27 January 2022). 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. 1125 N. Charles St, Baltimore, MD 21201. Key support is seen around 15.15 which is expected to be maintained throughout the first half of 2023. 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 Stock Should Rise By 34% Based on Revenue Projections. DKNG stock has slipped in the past month without a material change to its bullish narrative. "isTransparent": true, Copyright So far in 2021, DKNG has gained another 21% though that includes the recent sell-off from last months highs. Copyright 2023 InvestorPlace Media, LLC. And now New York, the countrys fourth-most populous state, is launching mobile wagering. Trailing P/E depends on what has already been done. "symbol": "NASDAQ:DKNG", Losses were -$1.38 billion, -9.53% less than in 2021. 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. 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. A16 ated in 2021 to move the talc Major U.S. stock indexes injury .