The company is not only offering an exciting experience to the users, but is also working on building alternative sources of revenue. and it easily beat analyst forecasts. Their mutual passion evolved to build a sports betting company with footprints in eight countries. What are analysts forecasts for DKNG stock? That represents a drop of 24.5% over 3 months. In late summer 2021, DraftKings (NASDAQ: DKNG) rebounded to more than $60 and looked ready to find a new high. Moreover, its not as if theres any bad news driving the pullback. This figure corresponds to the Average Price over the previous 50/200 days. Nasdaq The company recently released Q2 earnings and it easily beat analyst forecasts. I think the valuation for DKNG stock is always going to be at least 4 to 5 years in the future. Poteau, OK (74953) Today. Since then, as of June 9, it is now at $54.35. 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. That forecast, however, was overshadowed by a wider-than-expected projected loss. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. With his next-generation approach to investing, Luke Lango finds better stocks for you to invest in not the same old companies over-hyped on Wall Street. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nasdaq The company provides users with daily opportunities for sports, sports betting and iGaming. In late summer 2021, DraftKings (NASDAQ:DKNG) rebounded to more than $60 and looked ready to find a new high. 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. 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. Key support is seen around 15.15 which is expected to be maintained throughout the first half of 2023. quotes delayed at least 15 minutes, all others at least 20 minutes. "symbol": "NASDAQ:DKNG", But note that past performance is no guarantee of future results. On the date of publication, Vandita Jadeja did not have (either directly or indirectly) any positions in the securities mentioned in this article. This year, 25 state legislatures introduced legislation to legalize online sports betting. Losses were -$1.38 billion, -9.53% less than in 2021. Source: Lori. Thats why DKNG stock and other sports betting names rose in 2020: investors believed the pandemic would lead to faster, broader legalization. On the date of publication, Mark R. Hake did not hold a position in any security mentioned in this article. I still believe that the upper end of the target is very possible. Key support is seen around 15.15 which is expected to be maintained throughout the first half of 2023. If yes, then on this page you will find useful information about the dynamics of the DKNG stock price in 2022-2027. Once investors grow more confident that the business is profitable, they will accumulate shares. I also believe its newly-launched NFT platform will work in favor of the company and eventually attract new users to the platform. Copyright 2023 InvestorPlace Media, LLC. In other words, the markets outlook on the stock will roll over to the next 4-to-5-year sales and EBITDA forecasts. Optimistic: $23.47, An downtrend is forecast for this month with an optimal target price of $20.8086. Forecasts shouldn't be used as a substitute for your own research. According toPRNewswire, the online sports betting industry will go from $9.5 billion in 2020 to $37 billion in 2025. A key performance indicator is growth in the number of monthly unique payers (MUPs). More importantly, it has been collaborating with Dish Networks (NASDAQ:DISH) Sling TV to offer sports betting information that effectively ties in sports updates into betting odds. Last year, according to the American Gaming Association, more than 45 million people planned to wager $3.1 billion on the games. For investors considering high-growth stocks such as DraftKings, now is apparently not the time to be taking on extra risk. It appears the annual fall selloff has come early this year. Right now, no triggers for any actions.. Theres even room for more lines. In the first quarter of 2021, DKNG's total net revenues surged 146% year-over-year to $322 million. 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 . 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 . That implies that DraftKings market share would be slightly less than a quarter by 2025. This implies that DKNG stock is now worth about $73 per share, or 34% above todays price. 2023 InvestorPlace Media, LLC. That came a day after Penn National Gaming (. Thats a logical strategy. }. Jefferies forecasts a 2.8 percent decline for the consumer . (NASDAQ: TTCF) Tattooed Chef's current Earnings Per Share (EPS) is -$1.20. Draft Kings Annual Report 2021 Form 10K (NASDAQ:DENG) Published: November 5th, 2021PDF generated by stock light. The pandaforecast.com portal is not responsible for the loss of your money in the stock market After all, right now the stock has a huge price-to-sales ratio. Chris Lauis acontributing author for InvestorPlace.com and numerous other financial sites. Copyright Dont forget that DraftKings has a solid iGaming business where that is available: it has solid market share in New Jersey, for instance. 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. It cannot rely on rising advertising spending to grow. Investors are losing patience waiting for DraftKings to win approval for operating sportsbook operations. Naturally, many of these proposals will not make it past the finish line. DraftKings is one of the largest operators of fantasy sports services. It indicated that sales for 2021 will be in the range of $1.21 billion to $1.29 billion. Shareholders will need to wait for the Board to review and approve DraftKings gaming license. 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. If online sports betting is legalized in all states, the numbers could be significantly higher. Investors now can own that story at a cheaper price. It was fourth quarter earnings that helped drive the rally to last months highs, thanks in part to raised guidance for this year. If yes, then on this page you will find useful information about the dynamics of the DraftKings It has shown volatility since then and is trading much lower at less than $47 today. DKNG stock rose 5.58%, up from $25.8 to $27.24 on 8 January 2022. The fair value of DKNG stock is scaring away investors, but this could create opportunities. We initially share this idea in October 2018 and the stock . The average price target represents a 23.04% change from the last price of $18.58. Forecst.com predicts future values using technical analysis of a large number of analytical parameters. quotes delayed at least 15 minutes, all others at least 20 minutes. 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. Our 3 Top Picks. The third-quarter results may take the stock higher to the $50s. Positive dynamics for DraftKings shares will prevail with possible volatility of 5.819%.Pessimistic target level: 18.79Optimistic target level: 19.95, Forecast target price for 03-09-2023: $19.66. The benefits from its expansion strategies remain to be seen. I estimate DraftKings will have at least $2 billion in cash by 2025 from profitability and further warrant issues. Vandita Jadeja is a CPA and a freelance financial copywriter who loves to read and write about stocks. In November 2021, the federal court made a ruling that puts an end to sports betting legalization. Plenty of sunshine. 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. Our 3 Top Picks. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Theres even room for more lines. For the year ended Dec. 31, 2022, DraftKings reported revenue of $2.2 billion, which represented 69% growth year over year. EPS shows how much of the net profit is accounted for by the common share. Loop Capital believes the fact that DraftKings has become the No. 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. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. For example, as mentioned analysts expect revenue to reach $1.17 billion this year. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. This is when DraftKings will make the right moves to widen its market share and grow revenue. Of course, today is another bloodbath in the markets. 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. This is massive growth and DraftKings will play a major role here. A recently updated price target from Loop Capital for DKNG stock of $105 implies upside of. 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 30 Wall Street analysts offering DRAFTKINGS INC - CL A stock forecast in the last 6 months have average price target of $20.43 with a high forecast of $28.0 and a low forecast of $12.0. This is because the market assumes that the sports betting market will continue to grow dramatically. Winds light and variable.. Tonight Here is why. Capital Com is an execution-only service provider. Currently, DKNG trades at roughly $56 per share. 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. 1125 N. Charles St, Baltimore, MD 21201. Copyright 2023 InvestorPlace Media, LLC. States need revenue. A16 ated in 2021 to move the talc Major U.S. stock indexes injury . Is DKNG a good long term stock? According to our research, DKNG stock is a bad long-term investment. DKNG stock returns are also predicted based on historical data. Optimistic: $20.56, An uptrend is forecast for this month with an optimal target price of $19.8683. DraftKings (DKNG) stock Forecast for 2022 2026, This website uses cookies to ensure you get the best experience on our website. Theres even room for more lines. Indeed, the moves in DKNG stock have been impressive this year. Your current $100 investment may be up to $1189.67 in 2028. Thats exactly what is happening. 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. 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. Optimistic: $20.20 DraftKings Stock Prediction for Apr 2023 The market is getting competitive, and new markets will allow DraftKings to cement its authority and expand its revenue base to new heights. $14.51 / $14.65. Moreover, the company has a keen eye for innovation and introduced several new features to drive engagement on its platform. 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. Stock Price Forecast The 3 analysts offering 12-month price forecasts for Tattooed Chef Inc have a median target of 2.00, with a high estimate of 3.00 and a low estimate of 1.50. In the most bullish scenario, readers may assume revenue will grow 60% to 80% over the next five years. Still, DraftKings heavy advertising spending is temporary. Optimistic: $20.20, An uptrend is forecast for this month with an optimal target price of $19.695. 1125 N. Charles St, Baltimore, MD 21201. DraftKings has solid potential in the industry and it could become one of the top players by 2023. Copyright 2023 InvestorPlace Media, LLC. The company made the most of the pandemic and built strong partnerships to build a path for future growth. All rights reserved. Optimistic: $22.82, An uptrend is forecast for this month with an optimal target price of $22.6105. Pessimistic: $18.40. Recently, TSLA stock traded in the $1 trillion market capitalization. DKNG stock was up close to 1% when markets. Optimistic: $23.78, An uptrend is forecast for this month with an optimal target price of $22.4839. That gives it an equity market value of $28.85 billion, or 34.2% ahead of todays price. 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. DraftKings is known for strong partnerships in the ever-expanding industry. 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. On Wall Street, analysts have an average price target of $46 per TipRanks. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. 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. DKNG top 20 large caps. Considering the potential of the company and the industry to cater to, DKNG stock is well positioned at the current level. That is not normal. However, that changes once the company turns profitable. Pessimistic: $17.34. 1125 N. Charles St, Baltimore, MD 21201. Lorem ipsum dolor sit amet, consectetur adipiscing elit. When it reports results next quarter, investors should look at the companys operating margins closely. Pessimistic: $21.05. From Q3 2020 to Q3 2021, MUPs grew by approximately 31.37%. 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.. Theres even room for more lines. DraftKings stock is lower by 10.41 percent over the past month, and the gaming name shed 29.15 percent from its March highs. on IMF Forecasts a Sunnier 2023 for Global Economy us , l. DKNG stock has slipped in the past month without a material change to its bullish narrative. Right now, the stock is oversold, but there are no triggers that would signal a fresh entry. Copyright The Companys registered office is at Bahamas Financial Centre, 3rd Floor, Shirley and Charlotte Street, P.O. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Opinions on the stock are mixed, with 16 analysts rating it as a "buy," 0 as "overweight," 7 as "hold," and 1 as "sell.". If you rely on the information on this page then you do so entirely on your own risk. The company is one of the biggest players in the sports betting industry. As a result of strong engagement and cross-selling initiatives, average revenue per MUP (ARPMUP) increased by 38.23%, from $34 to $47. and Weighted Average Best Forecast. Since then, the stock has lost 64.26% in value, reaching $20.33, at the time of writing (27 January 2022). DraftKings is using aggressive upfront promotions to capture customers that will be profitable over the long haul. Just from what weve seen so far, the 2020 case for DKNG stock looks like it was on point. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. Sign up below to get this incredible offer! Let's take a look at a DraftKings stock forecast and find out. Market capitalization is the total market value of all issued shares of a company. "locale": "en" The sports betting sector is deeply out of favor. The deal will help increase revenue and attract new users to DraftKings. As iGaming picks up steam, so too will DKNG stock. This is despite the fact that right now the company is unprofitable. Sign up below to get this incredible offer! The firm may achieve that target if sports betting volumes grow in the year ahead. It still has plenty of growth in existing markets as users come on board. Pessimistic: $21.62. So far in 2021, DKNG has gained another 21% though that includes the recent sell-off from last month's highs. Fortunately, DraftKings has a strong brand name that consumers recognize. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Others, like California, need to work through a nest of competing interests. Traders also thought sports betting gaming license wins would be positive catalysts. Vandita Jadeja is a CPA and a freelance financial copywriter who loves to read and write about stocks. It will also help reduce the losses of DraftKings as Golden Nugget is a solid, revenue-generating company. Copyright 2023 InvestorPlace Media, LLC. Q3 2021 results revealed an overall $150m, or 37.97%, decrease in the companys bottom-line numbers, with net loss having increased from $395m in Q3 2020 to $545m. Financial Statements Analyst Forecast According to 40 analysts, the average rating for DKNG stock is "Buy." Today marks another milestone for DraftKings and the future of digital sports entertainment and gaming in America. On 26 January 2021, DKNG stock closed at $54.06. 1125 N. Charles St, Baltimore, MD 21201. Growing competition is a long-term risk for DraftKings. 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 . All rights reserved. Detailed values for the DraftKings stock price can be found in the table below. Mark Hake writes about personal finance on mrhake.medium.com and runs the Total Yield Value Guidewhich you can reviewhere. Shares of the Boston-based company sank as much as 19% in New York, their biggest drop since March 2020. For those of you just seeing this! This is the prior range low. Further, it has announced a multi-year deal with Genius Sports (NYSE:GENI), a National Football League (NFL) data provider. That would validate Chanos short position because the stock trades well above its fair value. In the quarters ahead, DraftKings needs to demonstrate sustained revenue growth as operating expenses declined. DraftKings stock prediction results are shown below and presented in the form of graphs, tables and text information, divided into time intervals. Change of direction? This transaction is expected to be wrapped up in the next six months and it will add 5 million users to the company. According to an algorithmic-based application, Wallet Investor, the share price for DKNG stock could potentially decline to $0.000001 by March 2023. As you can see, my estimate of its value reflects a return to its previous highs. Always conduct your own due diligence before investing. Is This the Best Way to Invest in the AI Gold Rush? 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. 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. EBITDA is earnings before interest, income tax and depreciation of assets. It represents a massive market for DraftKings to gain entry if it can. Online gaming company DraftKings (NASDAQ:DKNG) has been the talk of the industry in the past year. The broader pullback in growth stocks is a major reason for the drop. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The applications are still pending. Growth of 61.36% was reported with revenues up by $81m. That gives DKNG stock an enterprise value of $26.85 billion. Some states wont want to see revenues head to neighboring jurisdictions. The company recently acquired Golden Nugget (NASDAQ:GNOG), an online gambling service, for an all-stock transaction worth $1.56 billion. Yet investors dont seem nearly as excited. Optimistic target level: 21.19. (Next month, 2023, 2024, 2025, 2026 and 2027) Without it, the firm cannot have the title of a national sports betting, online casino and daily fantasy sports firm. Indeed, the fact that DraftKings is gaining market share much faster than its peers is a key catalyst for this price target hike. Sign up below to get this incredible offer! 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 Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Copyright If this momentum continues, its certainly possible DraftKings could post some blowout quarters. What Is the Best EV Stock to Buy Now? Its difficult to see why. DraftK ings Inc. headquartered in Boston, Massachusetts. Here are the top 20 stocks that have the highest upside according to Wall Street analysts. The company distributes its product offerings through a variety of channels, including traditional websites, direct app downloads, and direct-to-consumer digital platforms. as a result of using the information contained on the site. He shares his stock picks so readers get original insight that helps improve investment returns. Box N-4865, Nassau, Bahamas. DKNG Historical Ratings and Targets. The DKNG stock forecast price, according to Market Beat, varies from the low of $23 to the high of $85. ops) growth is -8.7%.. View Leidos Holdings, Inc.'s Net Income to Stockholders (Cont. It has only unlocked a mere fraction of its massive addressable market and will continue growing at a torrid pace. Be that as it may, short sellers typically have vested interests in spreading such news. The stock will go higher in the coming months and this dip is a good chance to enter. Another highlight of Q3 2021 was migration from Kambi to its in-house technology platform powered by SBTech. Optimistic: $20.61, An uptrend is forecast for this month with an optimal target price of $20.8081. That is no small feat. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Buy or sell stock? If customers shop for a better sports betting platform, DraftKings stock will face selling pressure. Buy DKNG stock before third-quarter results. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. 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 was even named an official partner of the National Football League, the biggest league for U.S. gambling. quotes delayed at least 15 minutes, all others at least 20 minutes. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. All rights reserved. However, the online sportsbook market is in its infancy at this stage. If you continue to use this site we will assume that you are happy with it. Its down from $71.98 on March 19 to $54.35. DraftKings company info Forecasting 52 Week High: 19.5476 USD 52 Week Low: 0.00000000000101 USD 5 Hypergrowth Stocks With 10X Potential in 2023, The Time to Buy Peloton Stock Is Now, According to Cathie Wood, Luke Lango and the InvestorPlace Research Staff, Facebooks CTO Departure Is Huge News for This Hypergrowth Crypto, This Is the Worst Thing You Can Do in the Stock Market, How to Profit From the Intelligence Age With AI Stocks, Capitalize on the Emerging Age of AI for Hefty Profits, Adopt the AI Revolution Before It Crowns the Next-Generation of Billionaires, Opendoor: The Amazon of Houses Keeps Getting Better. In Q3 2020, it was $1.02m. Sure, market conditions have been a big reason why LCID stock has fallen from $25 to under $10 . And it shouldnt be profitable, either. Considering the potential of the company and the industry to cater to, DKNG stock is well positioned at the current level. During pandemic-induced global lockdowns, the popularity of online gaming and betting soared. 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. 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. DKNG share price has been in a bear cycle for the past year. , the online sports betting industry will go from $9.5 billion in 2020 to $37 billion in 2025. As the wave of legalization of OSB continues in the country, DraftKings has a shot at stamping its authority on the sector. These are two of many partnerships the company has formed to increase growth. Why Hudson Bay May Not Be Able to Save Bed Bath & Beyond (BBBY) Stock, 5 Investors Betting Big on Exela (XELA) Stock in 2023, DraftKings Price Predictions: Why One Analyst Sees DKNG Stock Headed to $105. On a compounded basis, that works out to 32.2% average annual growth in sales. FAQ. Theres even room for more lines. Are you interested in DraftKings Inc. stocks prediction? The monthly unique players increased by 281% to 1.1 million and the average revenue per monthly unique player hit $80, which is up 26% year-over-year (YOY).