All rights reserved. Opinions on the stock are mixed, with 2 analysts rating it as a "buy," 0 as "overweight," 6 as "hold," and 2 as "sell.". DKNG stock returns are also predicted based on historical data. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. Theres even room for more lines. But its equity market cap is $21.49 billion. 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 is now available in 12 states after its blockbuster launch in Virginia and Michigan. The majority of retail investor accounts lose money when trading CFDs. DKNG top 20 large caps. DKNG stock looks undervalued considering the potential of the company. This is massive growth and DraftKings will play a major role here. Our 3 Top Picks. Investors correctly took the long view. When it reports results next quarter, investors should look at the companys operating margins closely. If online sports betting is legalized in all states, the numbers could be significantly higher. Additionally, it also launches social media features on its platform, enabling customers to interact and share their bets effectively. 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. 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. Why Is Novavax (NVAX) Stock Up 12% Today? More no doubt are on the way. ops) growth is -289.4%.. View Great Panther Mining Limited's Diluted EPS (Cont. After all, major sports shut down last year amid the novel coronavirus pandemic. "locale": "en" Thats a logical strategy. Forecasts shouldn't be used as a substitute for your own research. I believe DKNG stock will certainly reach the all-time high again, but it may take some time. This achievement will complement the companys goal of building a top-rated online sportsbook. Famed short-seller Jim Chanos disclosed his bet against the companys stock, and Chief Executive Officer Jason Robins questioned his concerns on valuations. The story is the same as it was when DKNG was rallying last month and last year. 1125 N. Charles St, Baltimore, MD 21201. Without it, the firm cannot have the title of a national sports betting, online casino and daily fantasy sports firm. 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. On the app store, Oregon Lottery will replace the Scoreboard app with DraftKings Sportsbook. However, the online sportsbook market is in its infancy at this stage. Pessimistic: $18.16. As you can see, my estimate of its value reflects a return to its previous highs. Counted STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10K/A Fill & Sign Online, Print, Email, Fax, or Download . Click here to see what Matt has up his sleeve now. 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. My new valuation is $73 per share, or 34.2% higher than today. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Ops) Growth trends, charts, and more. The lists should serve as a good starting point to find ideas to invest . Our 3 Top Picks. quotes delayed at least 15 minutes, all others at least 20 minutes. In other words, the markets outlook on the stock will roll over to the next 4-to-5-year sales and EBITDA forecasts. Any sort of adjustment to a growth stock such as DKNG higher is bullish for investors over the near term. Sign up below to get this incredible offer! Investors now can own that story at a cheaper price. 1125 N. Charles St, Baltimore, MD 21201. On the date of publication, Vandita Jadeja did not have (either directly or indirectly) any positions in the securities mentioned in this article. 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. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. If the company continues to increase the average revenue per monthly unique player, it will gain a strong position in the industry. By 2025, the sports betting industry is projected to be worth $15 billion. Theres even room for more lines. DraftKings stock prediction results are shown below and presented in the form of graphs, tables and text information, divided into time intervals. Investors are compensated by holding a firm belief that it is a leader in the betting field. Profits are likely a couple of years away. If you continue to use this site we will assume that you are happy with it. DKNG stock can reach $70 as the company makes all the right moves. The stock will go higher in the coming months and this dip is a good chance to enter. As a result of strong engagement and cross-selling initiatives, average revenue per MUP (ARPMUP) increased by 38.23%, from $34 to $47. DraftKings told investors on Friday that it expected to reach profitability by one financial measure in late 2023. It continues to innovate and offer new unique features to improve the quality of its service. On Wall Street, analysts have an average price target of $46 per TipRanks. DKNG stock pulled back despite its stellar performance and growth outlook. Despite the fact that DKNG stock's price has bottomed, the path toward higher levels seem to be challenging. It continues to push forward in the gaming market, opening up in new markets and offering a more well-rounded experience for its users. As the pandemic slowly changes how we engage with sports, DraftKings has a lot to look forward to. 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. The entire focus for traders interested in DKNG is $17.41. Over that stretch, the S&P 500 has rallied about 20%. DraftKings (DKNG) stock Forecast for 2022 2026, This website uses cookies to ensure you get the best experience on our website. DraftKings and Penn National Gamings (NASDAQ:PENN) Barstool Sports are seeking petition signers to support adding sports betting to the Florida ballot. However, gaming license delays and a dramatic shift in market sentiment toward bearishness have added risks for the sector. Here's one analyst price target investors in DraftKings may want to pay attention to. Our 3 Top Picks. 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. 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. From Q3 2020 to Q3 2021, MUPs grew by approximately 31.37%. The company still risks losing customers to competitors. Opinions on the stock are mixed, with 16 analysts rating it as a "buy," 0 as "overweight," 7 as "hold," and 1 as "sell.". DraftKings Inc. operates as a digital sports, entertainment and gaming company in the United States. "isTransparent": true, For convenience, prices are divided by color. This clearly implies that the market is valuing DKNG many years into the future based on its forecast revenue and profitability. The report alleges that the business has done business in Iran and has been involved in illegal gambling activity. This transaction is expected to be wrapped up in the next six months and it will add 5 million users to the company. I expect that will change in short order, at which point DKNG will resume its rally. Its about the long term. So what we have here is a company with one of the better growth opportunities in the entire market. Major sports have since returned, leading to big-time growth in DraftKings revenue. 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. Additionally, Loop Capital believes DraftKings relationship with the NFL could be a massive catalyst. On the date of publication, Vandita Jadeja did not have (either directly or indirectly) any positions in the securities mentioned in this article. We use cookies to ensure that we give you the best experience on our website. Theres even room for more lines. And DraftKings long-term opportunity is as good as anyone. Ark Investments Cathie Wood is a fan of DKNG stock and has bought it time and again. The company defines MUPs as users who have paid engagement across one or more product offerings. What are analysts forecasts for DKNG stock? 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. The pandaforecast.com portal is not responsible for the loss of your money in the stock market Here are the top 20 stocks that have the highest upside according to Wall Street analysts. Based on our forecasts, a long-term increase is expected, the "NSAV" stock price prognosis for 2028-01-26 is 0.0345 USD. According to. It indicated that sales for 2021 will be in the range of $1.21 billion to $1.29 billion. Snapped up 210,644 shares estimated to be worth about $11.05 million in DraftKings Inc (NASDAQ:DKNG) on the dip. Lorem ipsum dolor sit amet, consectetur adipiscing elit. DraftKings Inc. stock trend is negative. 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.". What Is the Best EV Stock to Buy Now? For DraftKings stocks, the 50-day moving average is the support level today. 1125 N. Charles St, Baltimore, MD 21201. On 5 November 2021, DraftKings released its Q3 2021 financial results. Nasdaq This massive increase was primarily driven by state launches in Virginia and Michigan. Lorem ipsum dolor sit amet, consectetur adipiscing elit. A key performance indicator is growth in the number of monthly unique payers (MUPs). But DKNG stock actually has suffered. Growth of 61.36% was reported with revenues up by $81m. 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. For DraftKings stocks, the 200-day moving average is the support level today. Today, it is one of the top players in the massive sports betting industry. This implies that DKNG stock is now worth about $73 per share, or 34% above todays price. Still, DraftKings heavy advertising spending is temporary. 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. Optimistic: $20.20 DraftKings Stock Prediction for Apr 2023 At its core, my model depends on a report by Morgan Stanley analyst Thomas Allen. Theres even room for international expansion over time, as DraftKings has offices in Europe as well. All rights reserved. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. Copyright 2023 InvestorPlace Media, LLC. All rights reserved. According to an algorithmic-based application, Wallet Investor, the share price for DKNG stock could potentially decline to $0.000001 by March 2023. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. However, those concerns are simply a diversion from the companys long-term bull case. Sports betting has. Here is why. The rest of this article will explain how I value DKNG stock, so you can have a simple understanding of my working model. Once investors grow more confident that the business is profitable, they will accumulate shares. Are you interested in DraftKings Inc. stocks and want to buy them, or are they already in your portfolio? quotes delayed at least 15 minutes, all others at least 20 minutes. That is no small feat. DraftKings has solid potential in the industry and it could become one of the top players by 2023. FAQ. DKNG Stock Down Despite Impressive Price Target Currently, DKNG trades at roughly $56 per share. Optimistic: $21.43, An uptrend is forecast for this month with an optimal target price of $21.0369. And sports betting taxes are a logical source of that revenue. Pessimistic: $21.43. The current analyst price target consensus has an upside of 151.05%, based on the last closing price of $19.32 as of 26 January 2022. Copyright 2023 InvestorPlace Media, LLC. Detailed values for the DraftKings stock price can be found in the table below. In May, the Positive dynamics for Momo shares will prevail with possible monthly volatility of 10.401% volatility is expected. Hello and Welcome to PUG Stock Market Analysis. When looking for a long-term forecast, its important to bear in mind that analysts forecasts and price targets can be wrong. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. A day after this was announced, the stock lost 0.72%. Conversely, DraftKings may post ongoing losses and a break-even quarter starting next year. Since then, as of June 9, it is now at $54.35. The bad news for shareholders is that insiders sold more shares in the last 12 months than they bought. A recently updated price target from Loop Capital for DKNG stock of $105 implies upside of approximately 85% from current levels. Target values for the price of one DraftKings share for May 2025. Note that analysts predictions are often wrong. On a compounded basis, that works out to 32.2% average annual growth in sales. On average, analysts forecast that TTCF's EPS will be -$0.39 for 2023 . Yet investors dont seem nearly as excited. The softer performance this year doesnt seem to make much sense. For the year ended Dec. 31, 2022, DraftKings reported revenue of $2.2 billion, which represented 69% growth year over year. The short float on DKNG stock is around 10%. ET on Zacks.com DraftKings To Rally Around 38%? Dont forget that DraftKings has a solid iGaming business where that is available: it has solid market share in New Jersey, for instance. 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. Although the recent deal withEntain Plcdid not work out, DraftKings made several partnerships and acquisitions that will work in its favor. Get the free SEC Filings - DraftKings Inc. Class A Common Stock (DKNG) Description . 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. For now, Chanos is right that the excessive valuation will lead to a drop. Thats why DKNG stock and other sports betting names rose in 2020: investors believed the pandemic would lead to faster, broader legalization. For investors considering high-growth stocks such as DraftKings, now is apparently not the time to be taking on extra risk. 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. That is a price-to-sales multiple of 19.2 times. If you rely on the information on this page then you do so entirely on your own risk. Copyright 2023 InvestorPlace Media, LLC. Shares of the online gaming stock started the year below $45, skyrocketed to nearly $75 in an earlier rally this year, and ultimately came back down to earth. If yes, then on this page you will find useful information about the dynamics of the DraftKings For example, in its latest quarter (Q1), DraftKings had an adjusted EBITDA loss of $139.3 million on revenues of $312.7 million. One of the most exciting planned acquisitions is Golden Nugget Online(NASDAQ:GNOG). Pessimistic target level: 18.99. Online gambling app DraftKings (NASDAQ:DKNG) has certainly had an excellent year. Investors need not fear Chanos assertions. Sure, market conditions have been a big reason why LCID stock has fallen from $25 to under $10 .