dkng stock forecast 2021

5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Her knowledge of words and numbers helps her write clear stock analysis. Right now, no triggers for any actions.. Pessimistic: $21.43. With strategic acquisitions and partnerships, DraftKings is putting its money in the right place. It began the process for getting Nevada gaming licenses back on March 11, 2020. Lorem ipsum dolor sit amet, consectetur adipiscing elit. On 25 January 2022, Moffett Nathanson slashed its DraftKings stock projection target from $36 to $25, but maintained its neutral rating. All rights reserved. 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). Here is why. It uses the current share price and divides it by the total earnings per share for the last 12 months. 1125 N. Charles St, Baltimore, MD 21201. Eventually, the negative sentiment will reverse. Over that stretch, the S&P 500 has rallied about 20%. But note that past performance is no guarantee of future results. 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. Further, it has announced a multi-year deal with Genius Sports (NYSE:GENI), a National Football League (NFL) data provider. 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 company distributes its product offerings through a variety of channels, including traditional websites, direct app downloads, and direct-to-consumer digital platforms. Last year, according to the American Gaming Association, more than 45 million people planned to wager $3.1 billion on the games. Sign up below to get this incredible offer! 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. DraftKings and Penn National Gamings (NASDAQ:PENN) Barstool Sports are seeking petition signers to support adding sports betting to the Florida ballot. During pandemic-induced global lockdowns, the popularity of online gaming and betting soared. One of the states that introduced legislation in 2021 in New York, which boasts a population of over 19 million. If this momentum continues, its certainly possible DraftKings could post some blowout quarters. DKNG Stock Down Despite Impressive Price Target Currently, DKNG trades at roughly $56 per share. This is because the market assumes that the sports betting market will continue to grow dramatically. Its down from $71.98 on March 19 to $54.35. 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. "symbol": "NASDAQ:DKNG", Draft Kings Annual Report 2021 Form 10K (NASDAQ:DENG) Published: November 5th, 2021PDF generated by stock light. Once investors grow more confident that the business is profitable, they will accumulate shares. Capital Com is an execution-only service provider. 2023 InvestorPlace Media, LLC. At one point, the platforms most popular sport was Ukrainian table tennis. This achievement will complement the companys goal of building a top-rated online sportsbook. When should I record a loss on DraftKings stock? At least as far as 2020 goes, the rally made more sense than it might have appeared given the short-term headwinds. Is DKNG a good long term stock? Today marks another milestone for DraftKings and the future of digital sports entertainment and gaming in America. Article printed from InvestorPlace Media, https://investorplace.com/2021/07/buy-the-dip-in-dkng-stock-for-its-incredible-growth-outlook/. Moreover, I now believe that that the market is clearly valuing the stock based on its 2025 forecast revenue numbers. Buy or sell stock? DraftKings is one of the largest operators of fantasy sports services. P/E ratio (price to earnings) - shows the ratio between the price of a share and the company's profit. Though some of the sales are automated, this will give investors a negative perception of the DKNG stock value. Skeptics could point to valuation. All rights reserved. After all, right now the stock has a huge price-to-sales ratio. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Its growing its user base swiftly, more than doubling its average monthly unique players for the first quarter. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. DraftKings stock prediction results are shown below and presented in the form of graphs, tables and text information, divided into time intervals. DraftKings told investors on Friday that it expected to reach profitability by one financial measure in late 2023. quotes delayed at least 15 minutes, all others at least 20 minutes. As iGaming picks up steam, so too will DKNG stock. The entire focus for traders interested in DKNG is $17.41. DKNG stock hardly is cheap: it trades at more than 30x 2020 revenue. 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. In 2020, DraftKings (NASDAQ: DKNG) stock rose a sizzling 335%. However, gaming license delays and a dramatic shift in market sentiment toward bearishness have added risks for the sector. DraftKings shares closed 1.94% to $52.46 on Friday. For example, Seeking Alpha indicates that on average analysts estimate revenue will reach $3.58 billion by 2025. "locale": "en" Most recently, it reported its first-quarter earnings in May, which showed that the business was growing at a rapid rate. Although the recent deal withEntain Plcdid not work out, DraftKings made several partnerships and acquisitions that will work in its favor. What Is the Best EV Stock to Buy Now? DKNG Historical Ratings and Targets. According to data compiled by Market Beat, of 26 analysts, 17 rated the DKNG stock a buy, eight suggested a hold and one recommended a sell. 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. Our forward-looking statements include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions or strategies . Milan Vaishnav, CMT, MSTA, a Consulting Technical Analyst at Gemstone Equity Research & Advisory, shared a technical analysis of the DKNG share market: Based on the data compiled by Market Beat, as of 26 January 2022, of 26 analysts, 17 rated DKNG stock a buy, eight suggested a hold and one recommended a sell. DraftKings has solid potential in the industry and it could become one of the top players by 2023. According to our research, DKNG stock is a bad long-term investment. Recently, TSLA stock traded in the $1 trillion market capitalization. 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.. By bringing together our leading consumer brand, data science expertise and industry-leading products with SBTechs proven technology platform, we will accelerate our innovation, growth and scale. At its core, my model depends on a report by Morgan Stanley analyst Thomas Allen. Copyright 2023 - 2027? 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. Theres even room for more lines. If the company continues to increase the average revenue per monthly unique player, it will gain a strong position in the industry. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. Indeed, this is certainly a big boon for business, should this trend continue. Keep in mind that DKNG stock is well off of its highs. This happens once a day. I estimate DraftKings will have at least $2 billion in cash by 2025 from profitability and further warrant issues. Positive dynamics for DraftKings shares will prevail with possible volatility of 3.361%.Pessimistic target level: 19.70Optimistic target level: 20.38, An downtrend is forecast for this month with an optimal target price of $18.9448. Considering the potential of the company and the industry to cater to, DKNG stock is well positioned at the current level. This win will lift the companys brand awareness and give it an edge over the competition. The point is that it was undervalued and likely to rise. During pandemic-induced global lockdowns, the popularity of online gaming and betting soared. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Box N-4865, Nassau, Bahamas. This massive increase was primarily driven by state launches in Virginia and Michigan. 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. 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. DKNG Forecast. The legalization of online betting has transformed the fortunes DKNG stock, and the company expanded its revenue by more than 70%. Optimistic: $23.03, An downtrend is forecast for this month with an optimal target price of $21.7914. Sign up below to get this incredible offer! And sports betting taxes are a logical source of that revenue. Its average monthly unique payers (MUP) for its B2C segment jumped 44% versus the prior year to 1.5 million, reflecting strong unique payer retention and acquisition across DFS, OSB and iGaming. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/dkng-stock-should-rise-by-34-based-on-revenue-projections/. Just a potential class action/investigation for Hindenburg hit piece DKNG top 20 large caps. Nasdaq Forward P/E uses projections of future earnings instead of final numbers. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. The stock will go higher in the coming months and this dip is a good chance to enter. Thats exactly what is happening. The applications are still pending. 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. Northland adjusted its price target to $45 from $75, but kept its outperform rating, as of 21 January 2022. New state launches will continue playing a major role in sustaining its lofty growth numbers in the future. quotes delayed at least 15 minutes, all others at least 20 minutes. The stock has been trading in the range of $40s for a month and I do not see a breakout point any time soon. Lorem ipsum dolor sit amet, consectetur adipiscing elit. This is massive growth and DraftKings will play a major role here. This implies that DKNG stock is now worth about $73 per share, or 34% above todays price. In fact, there was a double whammy effect. 1125 N. Charles St, Baltimore, MD 21201. Even though sports betting is legal for DraftKings in limited places, it should lift its results. 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. Always conduct your own due diligence before investing. Yet here in 2021, the market seems to have forgotten that 2020 case. Key support is seen around 15.15 which is expected to be maintained throughout the first half of 2023. However, those concerns are simply a diversion from the companys long-term bull case. Copyright 2023 InvestorPlace Media, LLC. All rights reserved. Optimistic: $20.61, An uptrend is forecast for this month with an optimal target price of $20.8081. Our 3 Top Picks. Over the past year, it has become difficult to argue the bull case for Lucid Motors (NASDAQ:LCID). The average of price targets set by Wall Street analysts indicates a potential upside of 27.7% in DraftKings (DKNG). Moreover, given that estimates for 2021 are for $1.17 billion, this implies a 4-year growth rate of 205.9%. Forecst.com predicts future values using technical analysis of a large number of analytical parameters. Are you interested in DraftKings Inc. stocks and want to buy them, or are they already in your portfolio? DraftKings is the undisputed king of gaming, with a fantasy sports market share of roughly 30% in the U.S. market. It has become a huge hit with sports fanatics. The deal will help increase revenue and attract new users to DraftKings. 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. 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. So what we have here is a company with one of the better growth opportunities in the entire market. These are two of many partnerships the company has formed to increase growth. Click here to see what Matt has up his sleeve now. On Jan. 12, 2022, DraftKings said it will become the official sportsbook provider of the Oregon Lottery. This is massive growth and DraftKings will play a major role here. Additionally, Loop Capital believes DraftKings relationship with the NFL could be a massive catalyst. Profits are likely a couple of years away. Optimistic: $23.47, An downtrend is forecast for this month with an optimal target price of $20.8086. Better, gambling stocks, like DKNG did push higher - temporarily - with 2022 March Madness. The rest of this article will explain how I value DKNG stock, so you can have a simple understanding of my working model. DraftKings will report third-quarter results on Nov 5. It has only unlocked a mere fraction of its massive addressable market and will continue growing at a torrid pace. All rights reserved. Thats why DKNG stock and other sports betting names rose in 2020: investors believed the pandemic would lead to faster, broader legalization. DraftKings reported a better-than-expected quarter with, Strategic Partnerships That Will Lead Growth. Trailing P/E depends on what has already been done. This is 15.33% more than the trading day before Thursday, 16th Feb 2023. Will DKNG stock price go up? FAQ. During that time there have been over 4000 blog posts made with over 10,000 charts on the markets and nearly 15 million page . Buy DKNG stock before third-quarter results. Lorem ipsum dolor sit amet, consectetur adipiscing elit. For the three months ended September 2021, revenue from MUPs was reported at $1.34m. Sign up below to get this incredible offer! On 26 January 2021, DKNG stock closed at $54.06. In May, the Positive dynamics for Momo shares will prevail with possible monthly volatility of 10.401% volatility is expected. quotes delayed at least 15 minutes, all others at least 20 minutes. DraftKings company info Forecasting 52 Week High: 19.5476 USD 52 Week Low: 0.00000000000101 USD DKNG stock has slipped in the past month without a material change to its bullish narrative. Just from what weve seen so far, the 2020 case for DKNG stock looks like it was on point. 1125 N. Charles St, Baltimore, MD 21201. In Florida, the launch of legalized sports betting stalled. The public float for AUY is 957.57M, and at present, short sellers hold a 0.67% of . DraftKings Stock Forecast: heading to $15. DKNG share price has been in a bear cycle for the past year. 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. For those of you just seeing this! Loop Capital believes the fact that DraftKings has become the No. So far in 2021, DKNG has gained another 21% though that includes the recent sell-off from last month's highs. The average price target represents a 23.04% change from the last price of $18.58. Close price at the end of the last trading day (Friday, 17th Feb 2023) of the DKNG stock was $20.54. Investors need not fear Chanos assertions. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. The benefits from its expansion strategies remain to be seen. Traders also thought sports betting gaming license wins would be positive catalysts. When looking for a long-term forecast, its important to bear in mind that analysts forecasts and price targets can be wrong. The EV / EBITDA ratio shows the ratio of the cost (EV) to its profit before tax, interest and amortization (EBITDA). Copyright 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 . The average price predicted for Yamana Gold Inc. (AUY) by analysts is $6.27, which is $0.99 above the current market price. Currently, DKNG trades at roughly $56 per share. 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 you can see, my estimate of its value reflects a return to its previous highs. And never invest or trade money you cannot afford to lose. The irony is that precisely the same case is playing out again. The third-quarter results may take the stock higher to the $50s. He argues that sports bettingcould reach $15 billion in 2025, up from $3 billion in 2020. I have my hopes pinned on this partnership which will help expand the company. The stock is clearly undervalued considering the market and the ability of the company to generate revenues. When should I take profit in DraftKings stock? Ops) Growth trends, charts, and more. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. If you rely on the information on this page then you do so entirely on your own risk. 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. . But DKNG stock actually has suffered. Theres even room for more lines. One of the hottest stocks right now,DraftKings(NASDAQ:DKNG), has been an intriguing company to watch. What Is the Best EV Stock to Buy Now? The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. If online sports betting is legalized in all states, the numbers could be significantly higher. Pessimistic: $19.23. I think the valuation for DKNG stock is always going to be at least 4 to 5 years in the future. Jason Robins, co-founder and CEO of DraftKings, commented on the merger: DKNG stock launched at $20.49. On Wall Street, analysts have an average price target of $46 per TipRanks. A key performance indicator is growth in the number of monthly unique payers (MUPs). 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 . 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. Copyright The stocks are grouped by market cap, from micro to mega-caps, for a total of 100 stocks (out of a universe of over 3,000 stocks). That is not normal. If DKNG breaks this level, then support will drop to $15 and $11 . Sign up below to get this incredible offer! For DraftKings stocks, the 50-day moving average is the support level today. Tax revenues went down as retail stores and restaurants closed and other businesses pulled back. The company has made several acquisitions over the year and is constantly growing its presence across different states. All rights reserved. The chart below shows the historical price of DraftKings stock and a prediction chart for the next month. Opinions on the stock are mixed, with 16 analysts rating it as a "buy," 0 as "overweight," 7 as "hold," and 1 as "sell.". While gambling predictions from the AGA aren't out just yet, we expect to see similar numbers. Future price predictions and analyst forecasts The average Tattooed Chef stock price prediction forecasts a potential upside of 437.19% from the current TTCF share price of $1.21. It still has plenty of growth in existing markets as users come on board. Copyright On a compounded basis, that works out to 32.2% average annual growth in sales. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. 2023 InvestorPlace Media, LLC. With this multi-year sports data agreement, DraftKings will get access to a full portfolio of sports data and content, including official NFL data. In November 2021, the federal court made a ruling that puts an end to sports betting legalization. And it shouldnt be profitable, either. Optimistic: $21.43, An uptrend is forecast for this month with an optimal target price of $21.0369. Leidos's latest twelve months net income to stockholders (cont. A Bigger Market and a Cheaper Price Make Draftkings Stock a Buy. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. A recently updated price target from Loop Capital for DKNG stock of $105 implies upside of. Pessimistic: $18.40. The consensus 12-month DraftKings stock price target is $56.13. Others, like California, need to work through a nest of competing interests. Optimistic: $20.56, An uptrend is forecast for this month with an optimal target price of $19.8683. 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. That implies that DraftKings market share would be slightly less than a quarter by 2025. Sure, market conditions have been a big reason why LCID stock has fallen from $25 to under $10 . And yet DKNG stock has faded over the past month. Are you interested in DraftKings Inc. stocks prediction? We will see a lot of action around the start of this years football season. Positive dynamics for DraftKings shares will prevail with possible volatility of 3.660%.Pessimistic target level: 19.25Optimistic target level: 19.98, Forecast target price for 03-10-2023: $19.72. Fortunately, DraftKings has a strong brand name that consumers recognize. That includes DraftKings (DKNG), which just caught double bottom support around $18 - and could see higher highs. Theres a simple reason why DKNG and other sports betting stocks rallied in 2020. Counted STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10K/A Fill & Sign Online, Print, Email, Fax, or Download . All rights reserved. For convenience, prices are divided by color. Indeed, the fact that DraftKings is gaining market share much faster than its peers is a key catalyst for this price target hike. 2023 InvestorPlace Media, LLC. A recently updated price target from Loop Capital for DKNG stock of $105 implies upside of approximately 85% from current levels. Today, it is one of the top players in the massive sports betting industry. demicshowering cash on hasn't had to lay off workers. The NFL post-season will have strong betting volumes compared to the regular season. On 5 November 2021, DraftKings released its Q3 2021 financial results. The company recently acquired Golden Nugget (NASDAQ:GNOG), an online gambling service, for an all-stock transaction worth $1.56 billion. { In fact, DKNG ran from about $15.50 to just above $21 at the start of the tournament. However, a report from short-seller Hindenburg Research has most recently been a thorn in its side. Despite the fact that DKNG stock's price has bottomed, the path toward higher levels seem to be challenging. On the date of publication, Vandita Jadejadid not have (either directly or indirectly) any positions in the securities mentioned in this article. 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. Theres even room for more lines. Compared to $213m in revenues for the three months to 30 September 2021, Q3 2020 revenues were at $132m. It cannot rely on rising advertising spending to grow. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. DKNG stock has now risen from a recent closing low on July 16 of $43.79 to $51.98 as of the close on. The stock had fallen 63% over the past year through Thursday's close. According toPRNewswire, the online sports betting industry will go from $9.5 billion in 2020 to $37 billion in 2025. "isTransparent": true, DKNG made it to the top 20. This is when DraftKings will make the right moves to widen its market share and grow revenue. Optimistic target level: 21.19. According to its forecast, as of 27 January 2022, the DraftKings future stock price could potentially decline to 0.000001 by March 2023. Famed money manager Cathie Wood, chief executive of Ark Investment Management, pared . That forecast, however, was overshadowed by a wider-than-expected projected loss. For investors considering high-growth stocks such as DraftKings, now is apparently not the time to be taking on extra risk.

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