Theres even room for more lines. With strategic acquisitions and partnerships, DraftKings is putting its money in the right place. A company with a weak moat has a broken business model. Jason Robins, co-founder and CEO of DraftKings, commented on the merger: DKNG stock launched at $20.49. DraftKings is using aggressive upfront promotions to capture customers that will be profitable over the long haul. DKNG stock pulled back despite its stellar performance and growth outlook. The firm may achieve that target if sports betting volumes grow in the year ahead. 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. 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 It launched a variant game of blackjack called Spanish21, which is a unique offering among its peers. Further, it has announced a multi-year deal with Genius Sports (NYSE:GENI), a National Football League (NFL) data provider. In late summer 2021, DraftKings (NASDAQ: DKNG) rebounded to more than $60 and looked ready to find a new high. The benefits from its expansion strategies remain to be seen. 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. Just a potential class action/investigation for Hindenburg hit piece This is because the market assumes that the sports betting market will continue to grow dramatically. Key support is seen around 15.15 which is expected to be maintained throughout the first half of 2023. That would validate Chanos short position because the stock trades well above its fair value. In addition, I dont think that it matters that much that the estimates I am using relate to 2025. It uses the current share price and divides it by the total earnings per share for the last 12 months. A recently updated price target from Loop Capital for DKNG stock of $105 implies upside of approximately 85% from current levels. The Companys registered office is at Bahamas Financial Centre, 3rd Floor, Shirley and Charlotte Street, P.O. The company spent around $1.56bn in acquiring Golden Nugget. Investors are compensated by holding a firm belief that it is a leader in the betting field. quotes delayed at least 15 minutes, all others at least 20 minutes. ET on Zacks.com DraftKings To Rally Around 38%? Even though sports betting is legal for DraftKings in limited places, it should lift its results. Pessimistic: $21.43. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. DKNG stock hardly is cheap: it trades at more than 30x 2020 revenue. Therefore, look to make at least 34% on DKNG stock as it moves closer to its inherent value of $73 per share. DKNG stock rose 5.58%, up from $25.8 to $27.24 on 8 January 2022. What is the future of DraftKings stock? Its aggressive promotional activities will solidify its market share growth in sports betting. In Q3 2020, it was $1.02m. This is the prior range low. As the wave of legalization of OSB continues in the country, DraftKings has a shot at stamping its authority on the sector. Conversely, DraftKings may post ongoing losses and a break-even quarter starting next year. 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. Optimistic: $22.82, An uptrend is forecast for this month with an optimal target price of $22.6105. Article printed from InvestorPlace Media, https://investorplace.com/2021/11/dkng-stock-has-monstrous-potential-in-the-future-of-sports-betting/. Northland adjusted its price target to $45 from $75, but kept its outperform rating, as of 21 January 2022. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. The third-quarter results may take the stock higher to the $50s. Customers will get a better online sportsbook experience. Article printed from InvestorPlace Media, https://investorplace.com/2021/07/buy-the-dip-in-dkng-stock-for-its-incredible-growth-outlook/. Copyright With March Madness just days away, keep an eye on gambling stocks. 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. On 5 November 2021, DraftKings released its Q3 2021 financial results. The company provides users with daily opportunities for sports, sports betting and iGaming. It has become a huge hit with sports fanatics. Importantly, its cash burn was US$425m over the trailing twelve months.. Optimistic: $23.47, An downtrend is forecast for this month with an optimal target price of $20.8086. Investors need not fear Chanos assertions. Our 3 Top Picks. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. All rights reserved. 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. demicshowering cash on hasn't had to lay off workers. 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. Key support is seen around 15.15 which is expected to be maintained throughout the first half of 2023. According to its forecast, as of 27 January 2022, the DraftKings future stock price could potentially decline to 0.000001 by March 2023. Yet investors dont seem nearly as excited. Arizona came on board last week. Despite the impact of the pandemic which led to short seasons and canceled tournaments, online sports betting has been consistently growing. Theres even room for international expansion over time, as DraftKings has offices in Europe as well. All rights reserved. Thats because valuation isnt based on a metric or two in a given way. The stock had fallen 63% over the past year through Thursday's close. As a result of strong engagement and cross-selling initiatives, average revenue per MUP (ARPMUP) increased by 38.23%, from $34 to $47. Pessimistic: $21.62. Over that stretch, the S&P 500 has rallied about 20%. Her knowledge of words and numbers helps her write clear stock analysis. 1125 N. Charles St, Baltimore, MD 21201. If yes, then on this page you will find useful information about the dynamics of the DraftKings All rights reserved. Close price at the end of the last trading day (Friday, 17th Feb 2023) of the DKNG stock was $20.54. DraftKings needs to shrink its expenses in the quarters ahead. Whats happening now is a land grab for users. Pessimistic: $18.40. Forecasts shouldn't be used as a substitute for your own research. 2023 InvestorPlace Media, LLC. If this momentum continues, its certainly possible DraftKings could post some blowout quarters. DraftKings Inc. stock trend is negative. Right now, the stock is oversold, but there are no triggers that would signal a fresh entry. Vandita Jadeja is a CPA and a freelance financial copywriter who loves to read and write about stocks. However, those concerns are simply a diversion from the companys long-term bull case. Better, gambling stocks, like DKNG did push higher - temporarily - with 2022 March Madness. Wood's flagship Ark Innovation ETF has slid 43% during the past year, but has rebounded 23% so far this year. But this result reflected marketing expenses of $228.7 million, or 73.2% of sales. The stock is above fair value at current levels. That implies that DraftKings market share would be slightly less than a quarter by 2025. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Copyright 2023 InvestorPlace Media, LLC. That came a day after Penn National Gaming (. I think the valuation for DKNG stock is always going to be at least 4 to 5 years in the future. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. If DKNG breaks this level, then support will drop to $15 and $11 . DKNG stock returns are also predicted based on historical data. At least as far as 2020 goes, the rally made more sense than it might have appeared given the short-term headwinds. Despite the pandemic, DraftKings has seen increases in its user numbers and its market share. In the quarters ahead, DraftKings needs to demonstrate sustained revenue growth as operating expenses declined. That is the reason why I dont feel right now that is important to discount the future sales and EBITDA to the present. According to. 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. 1125 N. Charles St, Baltimore, MD 21201. 1125 N. Charles St, Baltimore, MD 21201. 04:03 PM ET 08/06/2021 Online gambling app DraftKings ( DKNG) reported better-than-expected loss and revenue figures, though user growth fell short. We will see a lot of action around the start of this years football season. Optimistic: $20.20, An uptrend is forecast for this month with an optimal target price of $19.695. Nasdaq Indeed, the fact that DraftKings is gaining market share much faster than its peers is a key catalyst for this price target hike. Change of direction? 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 . 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. Wallet Investor is bearish on DraftKings stock value, restricting our scope to provide DraftKings stock outlook for 2025-2030. This is despite the fact that right now the company is unprofitable. Considering the potential of the company and the industry to cater to, DKNG stock is well positioned at the current level. ops) growth is -8.7%.. View Leidos Holdings, Inc.'s Net Income to Stockholders (Cont. According to our research, DKNG stock is a bad long-term investment. Note that analysts predictions are often wrong. Nasdaq If online sports betting is legalized in all states, the numbers could be significantly higher. 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. On 25 January 2022, Moffett Nathanson slashed its DraftKings stock projection target from $36 to $25, but maintained its neutral rating. 1125 N. Charles St, Baltimore, MD 21201. DraftKings is the undisputed king of gaming, with a fantasy sports market share of roughly 30% in the U.S. market. This win will lift the companys brand awareness and give it an edge over the competition. DraftKings has such a small amount of debt that we'll set it aside and focus on the US$2.6b in cash it held in June 2021. Major sports have since returned, leading to big-time growth in DraftKings revenue. In late summer 2021, DraftKings (NASDAQ:DKNG) rebounded to more than $60 and looked ready to find a new high. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. What You Should Know. What Is the Best EV Stock to Buy Now? The company is not only offering an exciting experience to the users, but is also working on building alternative sources of revenue. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. About 20.9 million American What are analysts' forecasts for DraftKings stock? On average, analysts forecast that TTCF's EPS will be -$0.39 for 2023 . And yet DKNG stock has faded over the past month. For investors considering high-growth stocks such as DraftKings, now is apparently not the time to be taking on extra risk. DraftKings has solid potential in the industry and it could become one of the top players by 2023. This is when DraftKings will make the right moves to widen its market share and grow revenue. Next, I multiply the EBITDA number by 15 times to value those earnings. Box N-4865, Nassau, Bahamas. Meanwhile, costs rose as the pandemic drove higher spending in a number of areas. Moreover, the company has a keen eye for innovation and introduced several new features to drive engagement on its platform. 50/200 Day Moving Average: But DKNG shouldnt be cheap. Here are the top 20 stocks that have the highest upside according to Wall Street analysts. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. stock price in 2023, 2024, 2025, 2026, 2027. Theres even room for more lines. The material provided on this website is for information purposes only and should not be understood as an investment advice. Great Panther Mining's latest twelve months diluted eps (cont. In fact, DKNG ran from about $15.50 to just above $21 at the start of the tournament. DraftKings shares closed 1.94% to $52.46 on Friday. Thats a powerful and attractive combination. Without it, the firm cannot have the title of a national sports betting, online casino and daily fantasy sports firm. Sign up below to get this incredible offer! Despite the fact that DKNG stock's price has bottomed, the path toward higher levels seem to be challenging. worth $1.56 billion. Optimistic: $21.43, An uptrend is forecast for this month with an optimal target price of $21.0369. 2023 InvestorPlace Media, LLC. When the Hindenburg Research report hit the stock, her ETFs picked up a total of about 870,300 shares of DKNG stock, reports Seeking Alpha.