All rights reserved. A16 ated in 2021 to move the talc Major U.S. stock indexes injury . , the online sports betting industry will go from $9.5 billion in 2020 to $37 billion in 2025. Our 3 Top Picks. The stock will go higher in the coming months and this dip is a good chance to enter. On 5 November 2021, DraftKings released its Q3 2021 financial results. Loop Capital believes the fact that DraftKings has become the No. Article printed from InvestorPlace Media, https://investorplace.com/2021/07/buy-the-dip-in-dkng-stock-for-its-incredible-growth-outlook/. Moreover, its not as if theres any bad news driving the pullback. FAQ. However, gaming license delays and a dramatic shift in market sentiment toward bearishness have added risks for the sector. Additionally, Loop Capital believes DraftKings relationship with the NFL could be a massive catalyst. Opinions on the stock are mixed, with 16 analysts rating it as a "buy," 0 as "overweight," 7 as "hold," and 1 as "sell.". You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. What You Should Know. quotes delayed at least 15 minutes, all others at least 20 minutes. The company provides users with daily opportunities for sports, sports betting and iGaming. It is calculated by the formula 1125 N. Charles St, Baltimore, MD 21201. That forecast, however, was overshadowed by a wider-than-expected projected loss. While gambling predictions from the AGA aren't out just yet, we expect to see similar numbers. Pessimistic: $21.05. The deal will help increase revenue and attract new users to DraftKings. Therefore, investors should take the report with a grain of salt, and it should not deter them from DKNG stocks bull case. A key performance indicator is growth in the number of monthly unique payers (MUPs). 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 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. In 2020, DraftKings (NASDAQ:DKNG) stock rose a sizzling 335%. For those of you just seeing this! The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. One of the states that introduced legislation in 2021 in New York, which boasts a population of over 19 million. On March 02, 2023, the average . Currently, DKNG trades at roughly $56 per share. . Copyright 1125 N. Charles St, Baltimore, MD 21201. Nasdaq Shareholders will need to wait for the Board to review and approve DraftKings gaming license. Key support is seen around 15.15 which is expected to be maintained throughout the first half of 2023. Shares Short Prior Month - the number of shares in short positions in the last month. Thats why DKNG stock and other sports betting names rose in 2020: investors believed the pandemic would lead to faster, broader legalization. Pessimistic: $19.59. In late summer 2021, DraftKings (NASDAQ: DKNG) rebounded to more than $60 and looked ready to find a new high. On 25 January 2022, Moffett Nathanson slashed its DraftKings stock projection target from $36 to $25, but maintained its neutral rating. It has only unlocked a mere fraction of its massive addressable market and will continue growing at a torrid pace. Why Is Novavax (NVAX) Stock Up 12% Today? While the effectiveness of this highly sought-after metric is questionable,. On the same day, Needham reiterated its buy, but lowered its price target to $46 from $73. Theres even room for more lines. This figure corresponds to the Average Price over the previous 50/200 days. But note that past performance is no guarantee of future results. Nasdaq All rights reserved. DKNG stock pulled back despite its stellar performance and growth outlook. Poteau, OK (74953) Today. When it reports results next quarter, investors should look at the companys operating margins closely. In other words, the markets outlook on the stock will roll over to the next 4-to-5-year sales and EBITDA forecasts. 1125 N. Charles St, Baltimore, MD 21201. Indeed, the moves in DKNG stock have been impressive this year. DKNG stock returns are also predicted based on historical data. Major sports have since returned, leading to big-time growth in DraftKings revenue. The applications are still pending. It continues to innovate and offer new unique features to improve the quality of its service. 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. Conversely, DraftKings may post ongoing losses and a break-even quarter starting next year. Most recently, it reported its first-quarter earnings in May, which showed that the business was growing at a rapid rate. The company still risks losing customers to competitors. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. How much will one DraftKings share be worth in Therefore, the pullback in DKNG stock presents an excellent opportunity for investors to scoop up the stock at a bargain. The DKNG stock forecast price, according to Market Beat, varies from the low of $23 to the high of $85. For the three months ended September 2021, revenue from MUPs was reported at $1.34m. Famed short-seller Jim Chanos disclosed his bet against the companys stock, and Chief Executive Officer Jason Robins questioned his concerns on valuations. Mark Hake writes about personal finance on mrhake.medium.com and runs the Total Yield Value Guidewhich you can reviewhere. 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. Indeed, this is certainly a big boon for business, should this trend continue. Northland adjusted its price target to $45 from $75, but kept its outperform rating, as of 21 January 2022. Our 3 Top Picks. 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. 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. Additionally, it also launches social media features on its platform, enabling customers to interact and share their bets effectively. According to our research, DKNG stock is a bad long-term investment. Yet investors dont seem nearly as excited. An analysts DraftKings stock analysis is based on making fundamental and technical studies of the stocks performance. DraftKings company info Forecasting 52 Week High: 19.5476 USD 52 Week Low: 0.00000000000101 USD DKNG stock emerged in 2020 through a blank check merger and there is no stopping the companys momentum. Shares of the Boston-based company sank as much as 19% in New York, their biggest drop since March 2020. demicshowering cash on hasn't had to lay off workers. DraftKings stock prediction results are shown below and presented in the form of graphs, tables and text information, divided into time intervals. Optimistic: $20.61, An uptrend is forecast for this month with an optimal target price of $20.8081. 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 fair value of DKNG stock is scaring away investors, but this could create opportunities. Optimistic target level: 21.19. As you can see, my estimate of its value reflects a return to its previous highs. A day after this was announced, the stock lost 0.72%. I think the valuation for DKNG stock is always going to be at least 4 to 5 years in the future. Sure, market conditions have been a big reason why LCID stock has fallen from $25 to under $10 . It is already an official sports betting partner of the NFL, which can boost its profile and help DraftKings continue to expand. Dividend yield is a ratio that shows how much a company pays in dividends each year at the stock price. DraftKings has solid potential in the industry and it could become one of the top players by 2023. News on the political front looks positive. worth $1.56 billion. Pessimistic: $19.23. In the same report you can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12-24 months. On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The company is one of the biggest players in the sports betting industry. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Today marks another milestone for DraftKings and the future of digital sports entertainment and gaming in America. That represents a drop of 24.5% over 3 months. Optimistic: $20.20 DraftKings Stock Prediction for Apr 2023 It began the process for getting Nevada gaming licenses back on March 11, 2020. Forward P/E uses projections of future earnings instead of final numbers. Trailing P/E depends on what has already been done. Forecast prices include: Optimistic Forecast, Pessimistic Forecast, Sign up below to get this incredible offer! Fortunately, DraftKings has a strong brand name that consumers recognize. What are analysts' forecasts for DraftKings stock? At one point, the platforms most popular sport was Ukrainian table tennis. 2023 InvestorPlace Media, LLC. Optimistic: $20.56, An uptrend is forecast for this month with an optimal target price of $19.8683. 5 Hypergrowth Stocks With 10X Potential in 2023, DraftKings reported revenues of $312 million, 7 A-Rated Retirement Stocks to Buy to for Your Golden Years, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Theres even room for international expansion over time, as DraftKings has offices in Europe as well. Vandita Jadeja is a CPA and a freelance financial copywriter who loves to read and write about stocks. Our 3 Top Picks. DKNG stock rose 5.58%, up from $25.8 to $27.24 on 8 January 2022. 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. Plenty of sunshine. 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. Ops) Growth trends, charts, and more. All rights reserved. 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. During pandemic-induced global lockdowns, the popularity of online gaming and betting soared. The pandaforecast.com portal is not responsible for the loss of your money in the stock market Copyright 2023 InvestorPlace Media, LLC. DraftKings is one of the largest operators of fantasy sports services. $14.51 / $14.65. Therefore, assuming 50% margins, EBITDA will reach $1.79 billion by 2025. 1125 N. Charles St, Baltimore, MD 21201. All rights reserved. What Is the Best EV Stock to Buy Now? It has become a huge hit with sports fanatics. While DraftKings still operates at a loss, the company's cash burn is . 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. For example, in its latest quarter (Q1), DraftKings had an adjusted EBITDA loss of $139.3 million on revenues of $312.7 million. Wallet Investor is bearish on DraftKings stock value, restricting our scope to provide DraftKings stock outlook for 2025-2030. DKNG stock was up close to 1% when markets. Today, it is one of the top players in the massive sports betting industry. However, a report from short-seller Hindenburg Research has most recently been a thorn in its side. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. Capital Com Online Investments Ltd is a Company registered in the Commonwealth of The Bahamas and authorised by the Securities Commission of The Bahamas with license number SIA-F245. However, the online sportsbook market is in its infancy at this stage. Therefore, look to make at least 34% on DKNG stock as it moves closer to its inherent value of $73 per share. Over that stretch, the S&P 500 has rallied about 20%. In November 2021, the federal court made a ruling that puts an end to sports betting legalization. The final quotes of the instrument at the close of the previous trading day are a signal to adjust the forecasts for DraftKings shares. Copyright 2023 InvestorPlace Media, LLC. Interestingly, the company has enough cash to expand the market through acquisitions and it is walking on the right path. When should I take profit in DraftKings stock? DraftKings has a strong leadership team that is extremely passionate about taking the company to the next level. Theres even room for more lines. "isTransparent": true, Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The sports betting sector is deeply out of favor.

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