The consensus 12-month DraftKings stock price target is $56.13. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. For the year ended Dec. 31, 2022, DraftKings reported revenue of $2.2 billion, which represented 69% growth year over year. 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. Its about the long term. "symbol": "NASDAQ:DKNG", Her knowledge of words and numbers helps her write clear stock analysis. All rights reserved. DKNG stock has slipped in the past month without a material change to its bullish narrative. The stock is above fair value at current levels. 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. 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. DraftKings (Nasdaq: DKNG) Stock Forecast We'll start with an explainer about what does DraftKings does. Meanwhile, costs rose as the pandemic drove higher spending in a number of areas. If the company continues to increase the average revenue per monthly unique player, it will gain a strong position in the industry. It will also help reduce the losses of DraftKings as Golden Nugget is a solid, revenue-generating company. If customers shop for a better sports betting platform, DraftKings stock will face selling pressure. Moreover, given that estimates for 2021 are for $1.17 billion, this implies a 4-year growth rate of 205.9%. If you rely on the information on this page then you do so entirely on your own risk. It uses the current share price and divides it by the total earnings per share for the last 12 months. }. Pessimistic: $17.34. DraftK ings Inc. headquartered in Boston, Massachusetts. 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 . It launched a variant game of blackjack called Spanish21, which is a unique offering among its peers. DKNG stock hit all time high earlier in March. Yet investors dont seem nearly as excited. Others, like California, need to work through a nest of competing interests. It appears the annual fall selloff has come early this year. 2023 InvestorPlace Media, LLC. On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. Snapped up 210,644 shares estimated to be worth about $11.05 million in DraftKings Inc (NASDAQ:DKNG) on the dip. That is the reason why I dont feel right now that is important to discount the future sales and EBITDA to the present. The final quotes of the instrument at the close of the previous trading day are a signal to adjust the forecasts for DraftKings shares. The company is one of the biggest players in the sports betting industry. If yes, then on this page you will find useful information about the dynamics of the DKNG stock price in 2022-2027. But DKNG stock actually has suffered. The average of price targets set by Wall Street analysts indicates a potential upside of 27.7% in DraftKings (DKNG). 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. A recently updated price target from Loop Capital for DKNG stock of $105 implies upside of approximately 85% from current levels. on IMF Forecasts a Sunnier 2023 for Global Economy us , l. While gambling predictions from the AGA aren't out just yet, we expect to see similar numbers. And now New York, the countrys fourth-most populous state, is launching mobile wagering. 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 . As was expected, the pandemic has blown a hole in state government budgets. DraftKings Stock Forecast: heading to $15. He argues that sports bettingcould reach $15 billion in 2025, up from $3 billion in 2020. Mark Hake writes about personal finance on mrhake.medium.com and runs the Total Yield Value Guidewhich you can reviewhere. 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. But note that past performance is no guarantee of future results. We will see a lot of action around the start of this years football season. Investors now can own that story at a cheaper price. As the pandemic slowly changes how we engage with sports, DraftKings has a lot to look forward to. Chris has over 20 years of investing experience in the stock market and runs the Do-It-Yourself Value Investing Marketplace on Seeking Alpha. Our 3 Top Picks. Article printed from InvestorPlace Media, https://investorplace.com/moneywire/2021/04/bigger-market-cheaper-price-make-dkng-stock-buy/. The third-quarter results may take the stock higher to the $50s. After marking a high of 74, it made a lower high of 64. DKNG top 20 large caps. The deal will help increase revenue and attract new users to DraftKings. If DKNG breaks this level, then support will drop to $15 and $11 . 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. The investor bet against Tesla (NASDAQ:TSLA), saying in December 2017 that the stock was worth zero. Moreover, the company has a keen eye for innovation and introduced several new features to drive engagement on its platform. Growing competition is a long-term risk for DraftKings. quotes delayed at least 15 minutes, all others at least 20 minutes. With that in mind, lets dig deeper into the driving forces behind DKNG stock. P/E ratio (price to earnings) - shows the ratio between the price of a share and the company's profit. Investors need not fear Chanos assertions. 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. Our 3 Top Picks. On the app store, Oregon Lottery will replace the Scoreboard app with DraftKings Sportsbook. Theres even room for more lines. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Additionally, it also launches social media features on its platform, enabling customers to interact and share their bets effectively. By 2025, the sports betting industry is projected to be worth $15 billion. DKNG share price has been in a bear cycle for the past year. These are two of many partnerships the company has formed to increase growth. Buy or sell stock? According to. "width": "250", What Is the Best EV Stock to Buy Now? The point is that it was undervalued and likely to rise. That is no small feat. 2023 - 2027? Optimistic: $22.41. 50/200 Day Moving Average: However, that changes once the company turns profitable. The company made the most of the pandemic and built strong partnerships to build a path for future 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. It has a growing user base in different states which will continue to push revenue higher. In multiple states, voters passed referendums legalizing sports betting in November. and it easily beat analyst forecasts. A day after this was announced, the stock lost 0.72%. In May, the Positive dynamics for Momo shares will prevail with possible monthly volatility of 10.401% volatility is expected. Ops) Growth trends, charts, and more. This year, 25 state legislatures introduced legislation to legalize online sports betting. Thats because valuation isnt based on a metric or two in a given way. Copyright 2023 InvestorPlace Media, LLC. 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. Fortunately, DraftKings has a strong brand name that consumers recognize. Copyright Dividend yield is a ratio that shows how much a company pays in dividends each year at the stock price. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Article printed from InvestorPlace Media, https://investorplace.com/2022/01/why-dkng-stock-is-out-of-favor-despite-its-strong-prospects/. 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. 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. DraftKings is one of the largest operators of fantasy sports services. Close price at the end of the last trading day (Friday, 17th Feb 2023) of the DKNG stock was $20.54. EBITDA is earnings before interest, income tax and depreciation of assets. Nasdaq Considering the potential of the company and the industry to cater to, DKNG stock is well positioned at the current level. Copyright 2023 InvestorPlace Media, LLC. All rights reserved. The company has made several acquisitions over the year and is constantly growing its presence across different states. With more states legalizing sports betting, the company has grown significantly. It fell 14.10% to an intra-day low of $17.6, closing its first day at $19.35.In the latest DraftKings stock news, on 6 January it became one of the first companies to launch its mobile and online sportsbook in New York. 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 short-term hit from canceled and postponed seasons was more than outweighed by the improved long-term outlook. Counted STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10K/A Fill & Sign Online, Print, Email, Fax, or Download . Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. The applications are still pending. . Just from what weve seen so far, the 2020 case for DKNG stock looks like it was on point. Lets dive into the analyst that just gave DKNG stock a big upgrade today. After all, major sports shut down last year amid the novel coronavirus pandemic. This is the prior range low. This implies that DKNG stock is now worth about $73 per share, or 34% above todays price. Famed short-seller Jim Chanos disclosed his bet against the companys stock, and Chief Executive Officer Jason Robins questioned his concerns on valuations. ops) growth is -289.4%.. View Great Panther Mining Limited's Diluted EPS (Cont. Nasdaq (NASDAQ: TTCF) Tattooed Chef's current Earnings Per Share (EPS) is -$1.20. In fact, DKNG ran from about $15.50 to just above $21 at the start of the tournament. Article printed from InvestorPlace Media, https://investorplace.com/2021/09/draftkings-price-predictions-why-one-analyst-sees-dkng-stock-headed-to-105/. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Therefore, investors should take the report with a grain of salt, and it should not deter them from DKNG stocks bull case. Right now, no triggers for any actions.. FAQ. But DKNG shouldnt be cheap. Get the free SEC Filings - DraftKings Inc. Class A Common Stock (DKNG) Description . In addition, I dont think that it matters that much that the estimates I am using relate to 2025. The softer performance this year doesnt seem to make much sense. For convenience, prices are divided by color. 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. It continues to push forward in the gaming market, opening up in new markets and offering a more well-rounded experience for its users. Within the next five years, I suspect that those expenses will fall as a percent of sales, allowing the company to start to reap 50% EBITDA margins. Jason Robins, co-founder and CEO of DraftKings, commented on the merger: DKNG stock launched at $20.49. The short float on DKNG stock is around 10%. The average DRAFTKINGS INC - CL A stock forecast represents a 43.27% increase from the last price of $14.2600002288818. A recently updated price target from Loop Capital for DKNG stock of $105 implies upside of. The DKNG stock forecast price, according to Market Beat, varies from the low of $23 to the high of $85. The public float for AUY is 957.57M, and at present, short sellers hold a 0.67% of . Therefore, look to make at least 34% on DKNG stock as it moves closer to its inherent value of $73 per share. Optimistic: $20.56, An uptrend is forecast for this month with an optimal target price of $19.8683. Sign up below to get this incredible offer! Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. It was fourth quarter earnings that helped drive the rally to last months highs, thanks in part to raised guidance for this year. That is a price-to-sales multiple of 19.2 times. This figure corresponds to the Average Price over the previous 50/200 days. 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. Financial Statements Analyst Forecast According to 40 analysts, the average rating for DKNG stock is "Buy." 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. DKNG Stock USD 18.19 0.85 4.46% DraftKings stock price prediction is an act of determining the future value of DraftKings shares using few different conventional methods such as EPS estimation, analyst consensus, or fundamental intrinsic valuation. 1125 N. Charles St, Baltimore, MD 21201. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. Copyright In late summer 2021, DraftKings (NASDAQ: DKNG) rebounded to more than $60 and looked ready to find a new high. Accordingly, investors in risk assets appear to be rethinking their positions today. What You Should Know. And sports betting taxes are a logical source of that revenue. This is massive growth and DraftKings will play a major role here. When should I take profit in DraftKings stock? DraftKings has reported strong revenues in Q3 2021, but continues to make significant losses. And DraftKings long-term opportunity is as good as anyone. $14.51 / $14.65. Target values for the price of one DraftKings share for May 2025. Sign up below to get this incredible offer! Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. DraftKings told investors on Friday that it expected to reach profitability by one financial measure in late 2023. DraftKings (DKNG) Surges Post Earnings: ETFs in Focus Feb. 21, 2023 at 1:00 p.m. On Jan. 12, 2022, DraftKings said it will become the official sportsbook provider of the Oregon Lottery. How much will one DraftKings share be worth in Opinions on the stock are mixed, with 16 analysts rating it as a "buy," 0 as "overweight," 7 as "hold," and 1 as "sell.". On a compounded basis, that works out to 32.2% average annual growth in sales. Nasdaq For DraftKings stocks, the 200-day moving average is the support level today. Future price predictions and analyst forecasts The company defines MUPs as users who have paid engagement across one or more product offerings. Sign up below to get this incredible offer! This is a clear sign that DraftKings is attracting users with its unique marketing strategies and its revenue is only trending upward. Forecasts shouldn't be used as a substitute for your own research. Considering the potential of the company and the industry to cater to, DKNG stock is well positioned at the current level. Copyright During that time there have been over 4000 blog posts made with over 10,000 charts on the markets and nearly 15 million page . The entire focus for traders interested in DKNG is $17.41. This is 15.33% more than the trading day before Thursday, 16th Feb 2023. DraftKings needs to shrink its expenses in the quarters ahead. The stock will go higher in the coming months and this dip is a good chance to enter. 1125 N. Charles St, Baltimore, MD 21201. I believe DKNG stock will certainly reach the all-time high again, but it may take some time. Copyright 1125 N. Charles St, Baltimore, MD 21201. Today, DKNG is down more than 5%, despite a rather bullish catalyst for this gambling stock. 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. Shares of the Boston-based company sank as much as 19% in New York, their biggest drop since March 2020. All rights reserved. At its core, my model depends on a report by Morgan Stanley analyst Thomas Allen. Dont forget that DraftKings has a solid iGaming business where that is available: it has solid market share in New Jersey, for instance. 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 Copyright 2023 InvestorPlace Media, LLC. I think the valuation for DKNG stock is always going to be at least 4 to 5 years in the future. Sign up below to get this incredible offer! EPS shows how much of the net profit is accounted for by the common share. DraftKings Inc. stock trend is negative . This transaction is expected to be wrapped up in the next six months and it will add 5 million users to the company. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. In 2020, DraftKings (NASDAQ:DKNG) stock rose a sizzling 335%. When using the forecast data, the investor assumes all financial risks. Wallet Investor is bearish on DraftKings stock value, restricting our scope to provide DraftKings stock outlook for 2025-2030. DraftKings (DKNG) stock Forecast for 2022 2026, This website uses cookies to ensure you get the best experience on our website. DraftKings is expected to announce Q3 earnings on November 5th, 2021. Even though sports betting is legal for DraftKings in limited places, it should lift its results. Investors are compensated by holding a firm belief that it is a leader in the betting field. Just a potential class action/investigation for Hindenburg hit piece Based on our forecasts, a long-term increase is expected, the "NSAV" stock price prognosis for 2028-01-26 is 0.0345 USD. What is the future of DraftKings stock? Since then, the stock has lost 64.26% in value, reaching $20.33, at the time of writing (27 January 2022). 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. 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. For example, in its latest quarter (Q1), DraftKings had an adjusted EBITDA loss of $139.3 million on revenues of $312.7 million. This is when DraftKings will make the right moves to widen its market share and grow revenue. Still, DraftKings heavy advertising spending is temporary. That represents a drop of 24.5% over 3 months. Famed money manager Cathie Wood, chief executive of Ark Investment Management, pared . This is proof that the company confidently expects higher user growth and revenue generation in the coming quarter. Positive dynamics for DraftKings shares will prevail with possible volatility of 3.420%.Pessimistic target level: 19.38Optimistic target level: 20.06, Forecast target price for 03-11-2023: $20.15. As iGaming picks up steam, so too will DKNG stock. Despite the impact of the pandemic which led to short seasons and canceled tournaments, online sports betting has been consistently growing. At its bullish peak, speculators bet that the National Football League (NFL) season start would lift DKNG stock. That gives DKNG stock an enterprise value of $26.85 billion. 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. On Wall Street, analysts have an average price target of $46 per TipRanks. On the date of publication, Vandita Jadejadid not have (either directly or indirectly) any positions in the securities mentioned in this article. Key support is seen around 15.15 which is expected to be maintained throughout the first half of 2023. DKNG Stock Down Despite Impressive Price Target Currently, DKNG trades at roughly $56 per share. "isTransparent": true, Jefferies forecasts a 2.8 percent decline for the consumer . What is TTCF's Earnings Per Share (EPS) forecast for 2023-2024? Theres even room for more lines. Last year, according to the American Gaming Association, more than 45 million people planned to wager $3.1 billion on the games. On March 02, 2023, the average . The stock had fallen 63% over the past year through Thursday's close. The benefits from its expansion strategies remain to be seen. 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. That forecast, however, was overshadowed by a wider-than-expected projected loss. Nasdaq According to our research, DKNG stock is a bad long-term investment. One of the hottest stocks right now,DraftKings(NASDAQ:DKNG), has been an intriguing company to watch.