Forecasts shouldn't be used as a substitute for your own research. DraftKings told investors on Friday that it expected to reach profitability by one financial measure in late 2023. About 20.9 million American All rights reserved. Article printed from InvestorPlace Media, https://investorplace.com/2021/11/dkng-stock-has-monstrous-potential-in-the-future-of-sports-betting/. DKNG stock is down more than 35% from its highs in March. 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 and Weighted Average Best Forecast. DraftKings (Nasdaq: DKNG) Stock Forecast We'll start with an explainer about what does DraftKings does. 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 . 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. In Florida, the launch of legalized sports betting stalled. However, those concerns are simply a diversion from the companys long-term bull case. Here Are 10 Other Analyst Forecasts For Tuesday Feb. 21, 2023 at. At its bullish peak, speculators bet that the National Football League (NFL) season start would lift DKNG stock. 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.". Her knowledge of words and numbers helps her write clear stock analysis. Source: Lori. If you own DKNG stock consider signing this information petition Cathie Wood Watch: Ark Pares Exact Sciences, Other Holdings { Once investors grow more confident that the business is profitable, they will accumulate shares. Sign up below to get this incredible offer! losed Joint Stock Company FinTech Solutions, Future price predictions and analyst forecasts. DKNG stock returns are also predicted based on historical data. Theres even room for more lines. "colorTheme": "light", The report alleges that the business has done business in Iran and has been involved in illegal gambling activity. Always conduct your own due diligence before investing. 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. 1125 N. Charles St, Baltimore, MD 21201. Is DKNG Stock a Buy After the DraftKings Hindenburg Research - Insider Pessimistic: $21.05. On the date of publication, Chris Lau did not have (either directly or indirectly) any positions in the securities mentioned in this article. DraftKings (NASDAQ:DKNG) Growth is Outpacing the Cash Burn 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. DKNG U.S.: Nasdaq DraftKings Inc. Watch list Create DKNG Alert Open Last Updated: Jan 24, 2023 at 12:18 p.m. EST Real time quote $ 14.84 0.28 1.92% Previous Close $14.56 Advanced Charting. The short-term hit from canceled and postponed seasons was more than outweighed by the improved long-term outlook. Negative dynamics for DraftKings shares will prevail with possible volatility of 4.145%.Pessimistic target level: 18.42Optimistic target level: 19.22, Forecast target price for 03-07-2023: $19.20. Optimistic: $22.41. All rights reserved. The company has already made impressive acquisitions and deals over the past year, and it does not appear ready to slow down anytime soon. It cannot rely on rising advertising spending to grow. By 2025, the sports betting industry is projected to be worth $15 billion. DraftKings was even named an official partner of the National Football League, the biggest league for U.S. gambling. 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. and it easily beat analyst forecasts. EPS shows how much of the net profit is accounted for by the common share. The point is that it was undervalued and likely to rise. In a 9 August 2021 press release, DraftKings announced that it would acquire and leverage Golden Nugget Online Gamings popular brand name and existing combined database of more than five million customers. It has become a huge hit with sports fanatics. Lorem ipsum dolor sit amet, consectetur adipiscing elit. This happens once a day. If DKNG breaks this level, then support will drop to $15 and $11 . 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 If you rely on the information on this page then you do so entirely on your own risk. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. The DKNG stock forecast price, according to Market Beat, varies from the low of $23 to the high of $85. Our 3 Top Picks. So far in 2021, DKNG has gained another 21% though that includes the recent sell-off from last month's highs. All rights reserved. In the most bullish scenario, readers may assume revenue will grow 60% to 80% over the next five years. 2023 InvestorPlace Media, LLC. DKNG stock has slipped in the past month without a material change to its bullish narrative. Online gambling app DraftKings (NASDAQ:DKNG) has certainly had an excellent year. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. The Companys registered office is at Bahamas Financial Centre, 3rd Floor, Shirley and Charlotte Street, P.O. In May, the Positive dynamics for Momo shares will prevail with possible monthly volatility of 10.401% volatility is expected. DKNG Stock: DraftKings' Q2 Earnings Show It May Be Worth $80-Plus DraftKings (DKNG) Stock Forecast & Price Target - TipRanks When should I take profit in DraftKings stock? Nasdaq A sustained corrective move followed after that. What Is the Best EV Stock to Buy Now? Article printed from InvestorPlace Media, https://investorplace.com/2021/09/draftkings-price-predictions-why-one-analyst-sees-dkng-stock-headed-to-105/. quotes delayed at least 15 minutes, all others at least 20 minutes. The average of price targets set by Wall Street analysts indicates a potential upside of 27.7% in DraftKings (DKNG). In 2020, DraftKings (NASDAQ: DKNG) stock rose a sizzling 335%. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Copyright 2023 InvestorPlace Media, LLC. 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. Will DKNG stock price go up? Pessimistic target level: 18.99. Sign up below to get this incredible offer! Customers will get a better online sportsbook experience. Since then, the stock has lost 64.26% in value, reaching $20.33, at the time of writing (27 January 2022). Shares of the Boston-based company sank as much as 19% in New York, their biggest drop since March 2020. The public float for AUY is 957.57M, and at present, short sellers hold a 0.67% of . DKNG Stock Down Despite Impressive Price Target Currently, DKNG trades at roughly $56 per share. DraftKings (DKNG) Option Traders Betting on Earnings - Investopedia If yes, then on this page you will find useful information about the dynamics of the DKNG stock price in 2022-2027. On 26 January 2021, DKNG stock closed at $54.06. On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. This massive increase was primarily driven by state launches in Virginia and Michigan. Nasdaq Today, DKNG is down more than 5%, despite a rather bullish catalyst for this gambling stock. That represents a drop of 24.5% over 3 months. The successful prediction of DraftKings' future price could yield a significant profit. But this result reflected marketing expenses of $228.7 million, or 73.2% of sales. The average price predicted for Yamana Gold Inc. (AUY) by analysts is $6.27, which is $0.99 above the current market price. DKNG stock has now risen from a recent closing low on July 16 of $43.79 to $51.98 as of the close on. That came a day after Penn National Gaming (. It launched a variant game of blackjack called Spanish21, which is a unique offering among its peers. The market is getting competitive, and new markets will allow DraftKings to cement its authority and expand its revenue base to new heights. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The short float on DKNG stock is around 10%. Its a strategy that many other growth companies in many other markets have followed successfully in recent years. Losses were -$1.38 billion, -9.53% less than in 2021. Copyright 2023 InvestorPlace Media, LLC. FAQ. The story is the same as it was when DKNG was rallying last month and last year. DraftKings Is Raising Expectations for 2021 | The Motley Fool ops) growth is -289.4%.. View Great Panther Mining Limited's Diluted EPS (Cont. We use cookies to ensure that we give you the best experience on our website. on IMF Forecasts a Sunnier 2023 for Global Economy us , l. Buy or sell stock? DraftKings has solid potential in the industry and it could become one of the top players by 2023. The broader pullback in growth stocks is a major reason for the drop. Its about the long term. 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. Article printed from InvestorPlace Media, https://investorplace.com/2021/07/buy-the-dip-in-dkng-stock-for-its-incredible-growth-outlook/. DraftKings and Penn National Gamings (NASDAQ:PENN) Barstool Sports are seeking petition signers to support adding sports betting to the Florida ballot. DraftKings (DKNG) Pe Ratio (TTM) - Zacks.com This win will lift the companys brand awareness and give it an edge over the competition. 10-k The median. Therefore, look to make at least 34% on DKNG stock as it moves closer to its inherent value of $73 per share. As the wave of legalization of OSB continues in the country, DraftKings has a shot at stamping its authority on the sector. That includes DraftKings (DKNG), which just caught double bottom support around $18 - and could see higher highs. P/E ratio (price to earnings) - shows the ratio between the price of a share and the company's profit. The average Tattooed Chef stock price prediction forecasts a potential upside of 437.19% from the current TTCF share price of $1.21. 2023 Capital Com Online Investments Ltd. Net Income to Stockholders (Cont. Ops) Growth For Leidos Holdings, Inc DKNG Stock Should Rise By 34% Based on Revenue Projections - InvestorPlace What is TTCF's Earnings Per Share (EPS) forecast for 2023-2024? These are two of many partnerships the company has formed to increase growth. Investors now can own that story at a cheaper price. This clearly implies that the market is valuing DKNG many years into the future based on its forecast revenue and profitability. Indeed, this is certainly a big boon for business, should this trend continue. DKNG : DRAFTKINGS INC - CL A stock forecast 2022 , 2022 - 2025 - 2030 In other words, the markets outlook on the stock will roll over to the next 4-to-5-year sales and EBITDA forecasts. Nasdaq On the date of publication, Mark R. Hake did not hold a position in any security mentioned in this article. Despite the fact that DKNG stock's price has bottomed, the path toward higher levels seem to be challenging. 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. 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 Stock Forecast: Is DKNG Riskier Than Sports Gambling? New state launches will continue playing a major role in sustaining its lofty growth numbers in the future. Arizona came on board last week. Copyright 2023 InvestorPlace Media, LLC. Pessimistic: $21.43. Further, it has announced a multi-year deal with Genius Sports (NYSE:GENI), a National Football League (NFL) data provider. Compared to $213m in revenues for the three months to 30 September 2021, Q3 2020 revenues were at $132m. 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. 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. And yet DKNG stock has faded over the past month. 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 . DKNG Historical Ratings and Targets. Major sports have since returned, leading to big-time growth in DraftKings revenue. The stock is above fair value at current levels. 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. DraftKings (DKNG) | Market Armor Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. moreover, are not trading signals. DraftKings company info Forecasting 52 Week High: 19.5476 USD 52 Week Low: 0.00000000000101 USD Additionally, it also launches social media features on its platform, enabling customers to interact and share their bets effectively. On the same day, Needham reiterated its buy, but lowered its price target to $46 from $73. 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. As a result of strong engagement and cross-selling initiatives, average revenue per MUP (ARPMUP) increased by 38.23%, from $34 to $47. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Its aggressive promotional activities will solidify its market share growth in sports betting. In Q3 2020, it was $1.02m. Trailing P/E depends on what has already been done. It continues to innovate and offer new unique features to improve the quality of its service. DraftKings Inc. operates as a digital sports, entertainment and gaming company in the United States. DraftKings (DKNG) stock Forecast for 2022 2026, This website uses cookies to ensure you get the best experience on our website. as a result of using the information contained on the site. If customers shop for a better sports betting platform, DraftKings stock will face selling pressure. That seems like a reasonable number, especially given the companys existing advantages in the marketplace, which are likely to increase.
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