dkng stock forecast 2021 dkng stock forecast 2021

Ark Investments Cathie Wood is a fan of DKNG stock and has bought it time and again. A key performance indicator is growth in the number of monthly unique payers (MUPs). 2023 InvestorPlace Media, LLC. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. A sustained corrective move followed after that. Our 3 Top Picks. Shed 149,695 shares,. That represents a drop of 24.5% over 3 months. Capital Com is an execution-only service provider. For the three months ended September 2021, revenue from MUPs was reported at $1.34m. About 20.9 million American Fortunately, DraftKings has a strong brand name that consumers recognize. 50/200 Day Moving Average: In addition, I dont think that it matters that much that the estimates I am using relate to 2025. Copyright What Is the Best EV Stock to Buy Now? Plenty of sunshine. Our 3 Top Picks. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. ops) growth is -289.4%.. View Great Panther Mining Limited's Diluted EPS (Cont. Online gaming company DraftKings (NASDAQ:DKNG) has been the talk of the industry in the past year. The stock will go higher in the coming months and this dip is a good chance to enter. Buy or sell stock? Poteau, OK (74953) Today. The company defines MUPs as users who have paid engagement across one or more product offerings. Pessimistic: $19.26. and Weighted Average Best Forecast. It has become a huge hit with sports fanatics. DKNG stock pulled back despite its stellar performance and growth outlook. 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, it also launches social media features on its platform, enabling customers to interact and share their bets effectively. Today, DKNG is down more than 5%, despite a rather bullish catalyst for this gambling stock. Optimistic: $22.41. The lists should serve as a good starting point to find ideas to invest . That gives DKNG stock an enterprise value of $26.85 billion. With this multi-year sports data agreement, DraftKings will get access to a full portfolio of sports data and content, including official NFL data. demicshowering cash on hasn't had to lay off workers. As the wave of legalization of OSB continues in the country, DraftKings has a shot at stamping its authority on the sector. Theres a simple reason why DKNG and other sports betting stocks rallied in 2020. DraftKings (Nasdaq: DKNG) Stock Forecast We'll start with an explainer about what does DraftKings does. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. 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. DKNG stock has slipped in the past month without a material change to its bullish narrative. Copyright 2023 InvestorPlace Media, LLC. One of the hottest stocks right now,DraftKings(NASDAQ:DKNG), has been an intriguing company to watch. P/E ratio (price to earnings) - shows the ratio between the price of a share and the company's profit. EBITDA is earnings before interest, income tax and depreciation of assets. Therefore, the pullback in DKNG stock presents an excellent opportunity for investors to scoop up the stock at a bargain. Sign up below to get this incredible offer! The sports betting industry is massive, DraftKings is in a growth stage and there is huge potential to expand. The data suggest that this NFL season is bringing a flurry of activity to DraftKings platform much greater than what analysts predicted. It was fourth quarter earnings that helped drive the rally to last months highs, thanks in part to raised guidance for this year. According to an algorithmic-based application, Wallet Investor, the share price for DKNG stock could potentially decline to $0.000001 by March 2023. quotes delayed at least 15 minutes, all others at least 20 minutes. It has a growing user base in different states which will continue to push revenue higher. 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.". Therefore, assuming 50% margins, EBITDA will reach $1.79 billion by 2025. For DraftKings stocks, the 200-day moving average is the support level today. Most recently, it reported its first-quarter earnings in May, which showed that the business was growing at a rapid rate. 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. 2023 InvestorPlace Media, LLC. 1125 N. Charles St, Baltimore, MD 21201. Optimistic: $20.20, An uptrend is forecast for this month with an optimal target price of $19.695. During that time there have been over 4000 blog posts made with over 10,000 charts on the markets and nearly 15 million page . Right now, the stock is oversold, but there are no triggers that would signal a fresh entry. Since then, as of June 9, it is now at $54.35. 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). 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. Bears may justify the ongoing losses as a reason to bet against the company. This is massive growth and DraftKings will play a major role here. 1125 N. Charles St, Baltimore, MD 21201. It continues to push forward in the gaming market, opening up in new markets and offering a more well-rounded experience for its users. 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. Thats why DKNG stock and other sports betting names rose in 2020: investors believed the pandemic would lead to faster, broader legalization. Financial Statements Analyst Forecast According to 40 analysts, the average rating for DKNG stock is "Buy." On the app store, Oregon Lottery will replace the Scoreboard app with DraftKings Sportsbook. Northland adjusted its price target to $45 from $75, but kept its outperform rating, as of 21 January 2022. Despite the fact that DKNG stock's price has bottomed, the path toward higher levels seem to be challenging. DKNG stock hit all time high earlier in March. $14.51 / $14.65. Pessimistic: $19.59. However, gaming license delays and a dramatic shift in market sentiment toward bearishness have added risks for the sector. 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. I expect that will change in short order, at which point DKNG will resume its rally. Jason Robins, co-founder and CEO of DraftKings, commented on the merger: DKNG stock launched at $20.49. stock price in 2023, 2024, 2025, 2026, 2027. The median. Shares of online betting company DraftKings (NASDAQ:DKNG) have pulled back with brick-and-mortar casinos making a comeback and short-sellers targeting DKNG stock. DKNG stock returns are also predicted based on historical data. DraftKings is known for strong partnerships in the ever-expanding industry. Recently, TSLA stock traded in the $1 trillion market capitalization. Forecast prices include: Optimistic Forecast, Pessimistic Forecast, Nasdaq The sports betting sector is deeply out of favor. But DKNG shouldnt be cheap. DraftKings and Penn National Gamings (NASDAQ:PENN) Barstool Sports are seeking petition signers to support adding sports betting to the Florida ballot. Key support is seen around 15.15 which is expected to be maintained throughout the first half of 2023. DKNG stock was up close to 1% when markets. Shares Short Prior Month - the number of shares in short positions in the last month. When using the forecast data, the investor assumes all financial risks. 1125 N. Charles St, Baltimore, MD 21201. On March 02, 2023, the average . Therefore, look to make at least 34% on DKNG stock as it moves closer to its inherent value of $73 per share. While DraftKings still operates at a loss, the company's cash burn is . DraftKings told investors on Friday that it expected to reach profitability by one financial measure in late 2023. Target values for the price of one DraftKings share for May 2025. On 26 January 2021, DKNG stock closed at $54.06. 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. All rights reserved. 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. 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 The rest of this article will explain how I value DKNG stock, so you can have a simple understanding of my working model. Investors need not fear Chanos assertions. For DraftKings stocks, the 50-day moving average is the support level today. This is when DraftKings will make the right moves to widen its market share and grow revenue. It will also help reduce the losses of DraftKings as Golden Nugget is a solid, revenue-generating company. Theres even room for more lines. Theres even room for international expansion over time, as DraftKings has offices in Europe as well. That implies that DraftKings market share would be slightly less than a quarter by 2025. Its difficult to see why. The company recently released Q2 earnings and it easily beat analyst forecasts. Importantly, its cash burn was US$425m over the trailing twelve months.. If online sports betting is legalized in all states, the numbers could be significantly higher. DraftKings (DKNG) stock Forecast for 2022 2026, This website uses cookies to ensure you get the best experience on our website. In November 2021, the federal court made a ruling that puts an end to sports betting legalization. All rights reserved. DKNG share price has been in a bear cycle for the past year. As was expected, the pandemic has blown a hole in state government budgets. According to its forecast, as of 27 January 2022, the DraftKings future stock price could potentially decline to 0.000001 by March 2023. Nasdaq Theres even room for more lines. Vandita Jadeja is a CPA and a freelance financial copywriter who loves to read and write about stocks. Theres even room for more lines. Growing competition is a long-term risk for DraftKings. 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. Will DKNG stock price go up? 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. So what we have here is a company with one of the better growth opportunities in the entire market. Meanwhile, costs rose as the pandemic drove higher spending in a number of areas. Right now, no triggers for any actions.. What is the future of DraftKings stock? On Wall Street, analysts have an average price target of $46 per TipRanks. The weighted average target price per DraftKings share in May 2025 is: 19.84. Forecst.com predicts future values using technical analysis of a large number of analytical parameters. DKNG stock looks undervalued considering the potential of the company. Article printed from InvestorPlace Media, https://investorplace.com/2021/08/dkng-stock-is-set-for-growth-with-strong-q2-results-and-partnerships/. DraftKings has increased the full-year revenue target to $1.21 to $1.29 billion, which would be up to 100% YOY growth. Optimistic: $20.61, An uptrend is forecast for this month with an optimal target price of $20.8081. All rights reserved. For those of you just seeing this! At its core, my model depends on a report by Morgan Stanley analyst Thomas Allen. It cannot rely on rising advertising spending to grow. 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.. DraftKings is using aggressive upfront promotions to capture customers that will be profitable over the long haul. Copyright Leidos's latest twelve months net income to stockholders (cont. The market is getting competitive, and new markets will allow DraftKings to cement its authority and expand its revenue base to new heights. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Our 3 Top Picks. Counted STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10K/A Fill & Sign Online, Print, Email, Fax, or Download . Is DKNG a good long term stock? These are two of many partnerships the company has formed to increase growth. News on the political front looks positive. Pessimistic: $17.34. Pessimistic: $21.62. Moreover, I now believe that that the market is clearly valuing the stock based on its 2025 forecast revenue numbers. Keep in mind that DKNG stock is well off of its highs. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. We use cookies to ensure that we give you the best experience on our website. While gambling predictions from the AGA aren't out just yet, we expect to see similar numbers. Join the 500.000+ traders worldwide that chose to trade with Capital.com, Also you can contact us: 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. More no doubt are on the way. Nevertheless, DKNG stock is now positive for the year (+16.73%), as it closed at $46.56 on Dec. 31. However, the online sportsbook market is in its infancy at this stage. Optimistic: $23.78, An uptrend is forecast for this month with an optimal target price of $22.4839. The stock is above fair value at current levels. 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. The majority of retail investor accounts lose money when trading CFDs. What is TTCF's Earnings Per Share (EPS) forecast for 2023-2024? Her knowledge of words and numbers helps her write clear stock analysis. Detailed values for the DraftKings stock price can be found in the table below. DraftKings Inc. operates as a digital sports, entertainment and gaming company in the United States. In the most bullish scenario, readers may assume revenue will grow 60% to 80% over the next five years. Over the past year, it has become difficult to argue the bull case for Lucid Motors (NASDAQ:LCID). Click here to see what Matt has up his sleeve now. Nasdaq If customers shop for a better sports betting platform, DraftKings stock will face selling pressure. Are you interested in DraftKings Inc. stocks and want to buy them, or are they already in your portfolio? High 56F. Just from what weve seen so far, the 2020 case for DKNG stock looks like it was on point. DraftKings is one of the largest operators of fantasy sports services. Box N-4865, Nassau, Bahamas. DraftKings stock is lower by 10.41 percent over the past month, and the gaming name shed 29.15 percent from its March highs. quotes delayed at least 15 minutes, all others at least 20 minutes. A recently updated price target from Loop Capital for DKNG stock of $105 implies upside of approximately 85% from current levels. It is calculated by the formula We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. For the year ended Dec. 31, 2022, DraftKings reported revenue of $2.2 billion, which represented 69% growth year over year. All rights reserved. Vandita Jadeja is a CPA and a freelance financial copywriter who loves to read and write about stocks. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Lets dive into the analyst that just gave DKNG stock a big upgrade today. 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. The stock also ran briefly in 2021 and in 2020, as well. Despite the impact of the pandemic which led to short seasons and canceled tournaments, online sports betting has been consistently growing. The stock has been trading in the range of $40s for a month and I do not see a breakout point any time soon. That is no small feat. 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. This massive increase was primarily driven by state launches in Virginia and Michigan. Today, it is one of the top players in the massive sports betting industry. Thats because valuation isnt based on a metric or two in a given way. The one-month trend of DKNG stock has the share prices remaining in the middle of the volatility range, before rising above the 20-day moving average in the weeks before earnings. The company has made several acquisitions over the year and is constantly growing its presence across different states. and it easily beat analyst forecasts. That came a day after Penn National Gaming (. 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 All rights reserved. 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. After all, right now the stock has a huge price-to-sales ratio. quotes delayed at least 15 minutes, all others at least 20 minutes. Nasdaq However, one analyst seems to disagree with this view. DraftKings has solid potential in the industry and it could become one of the top players by 2023. DKNG stock pulled back despite its stellar performance and growth outlook By Muslim Farooque, InvestorPlace Contributor Jul 20, 2021, 6:15 am EST Shares of online betting company DraftKings. 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. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Within a week from the third quarter financial results being made public, the DKNG stock price had fallen by 7.12%. Profits are likely a couple of years away. Despite the impact of the pandemic which led to short seasons and canceled tournaments, online sports betting has been consistently growing. On average, analysts forecast that TTCF's EPS will be -$0.39 for 2023 . Therefore, investors should take the report with a grain of salt, and it should not deter them from DKNG stocks bull case. , the online sports betting industry will go from $9.5 billion in 2020 to $37 billion in 2025. Be that as it may, short sellers typically have vested interests in spreading such news. DraftKings is the undisputed king of gaming, with a fantasy sports market share of roughly 30% in the U.S. market. Market capitalization is the total market value of all issued shares of a company. If this momentum continues, its certainly possible DraftKings could post some blowout quarters. 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. Loop Capital believes the fact that DraftKings has become the No. Copyright 2023 InvestorPlace Media, LLC. One of the states that introduced legislation in 2021 in New York, which boasts a population of over 19 million. 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. Eventually, the negative sentiment will reverse. How much will one DraftKings share be worth in What Is the Best EV Stock to Buy Now? And we have a stock thats pulled back substantially from its highs. Pessimistic: $18.40. 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. Snapped up 210,644 shares estimated to be worth about $11.05 million in DraftKings Inc (NASDAQ:DKNG) on the dip. Copyright 2023 InvestorPlace Media, LLC. Copyright He argues that sports bettingcould reach $15 billion in 2025, up from $3 billion in 2020. Currently, DKNG trades at roughly $56 per share. The deal will help increase revenue and attract new users to DraftKings. I think the valuation for DKNG stock is always going to be at least 4 to 5 years in the future. Once profits can be clearly forecast, the valuation will be based on a discounted measure of their present value. New states will follow. That is the reason why I dont feel right now that is important to discount the future sales and EBITDA to the present. When looking for a long-term forecast, its important to bear in mind that analysts forecasts and price targets can be wrong. The final quotes of the instrument at the close of the previous trading day are a signal to adjust the forecasts for DraftKings shares. DraftKings is now available in 12 states after its blockbuster launch in Virginia and Michigan. Let's take a look at a DraftKings stock forecast and find out. 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. "colorTheme": "light", Opinions on the stock are mixed, with 16 analysts rating it as a "buy," 0 as "overweight," 7 as "hold," and 1 as "sell.". Famed short-seller Jim Chanos disclosed his bet against the companys stock, and Chief Executive Officer Jason Robins questioned his concerns on valuations. It is already an official sports betting partner of the NFL, which can boost its profile and help DraftKings continue to expand. 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. In fact, there was a double whammy effect. Naturally, many of these proposals will not make it past the finish line. In Q3 2020, it was $1.02m. Additionally, Loop Capital believes DraftKings relationship with the NFL could be a massive catalyst. Still, DraftKings heavy advertising spending is temporary. However, a report from short-seller Hindenburg Research has most recently been a thorn in its side. All rights reserved. What You Should Know. "width": "250", Note that analysts predictions are often wrong. If you continue to use this site we will assume that you are happy with it. In the quarters ahead, DraftKings needs to demonstrate sustained revenue growth as operating expenses declined. Forward P/E uses projections of future earnings instead of final numbers. 2023 InvestorPlace Media, LLC. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The consensus 12-month DraftKings stock price target is $56.13. Over the past. In the first quarter of 2021, DKNG's total net revenues surged 146% year-over-year to $322 million. 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. Pessimistic: $17.34. Capital Com Online Investments Ltd is a limited liability company with company number 209236B. 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. Let us dig deeper into the catalysts working for DKNG stock. Pessimistic: $19.23. Always conduct your own due diligence before investing. That would validate Chanos short position because the stock trades well above its fair value. 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. Traders also thought sports betting gaming license wins would be positive catalysts. 1125 N. Charles St, Baltimore, MD 21201. Over that stretch, the S&P 500 has rallied about 20%. As you can see, my estimate of its value reflects a return to its previous highs. At least as far as 2020 goes, the rally made more sense than it might have appeared given the short-term headwinds. On 25 January 2022, Moffett Nathanson slashed its DraftKings stock projection target from $36 to $25, but maintained its neutral rating. Shares of the Boston-based company sank as much as 19% in New York, their biggest drop since March 2020. 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. On the date of publication, Chris Lau did not have (either directly or indirectly) any positions in the securities mentioned in this article. It has shown volatility since then and is trading much lower at less than $47 today.