DraftKings was even named an official partner of the National Football League, the biggest league for U.S. gambling. Your current $100 investment may be up to $1189.67 in 2028. For the year ended Dec. 31, 2022, DraftKings reported revenue of $2.2 billion, which represented 69% growth year over year. Copyright By 2025, the sports betting industry is projected to be worth $15 billion. My new valuation is $73 per share, or 34.2% higher than today. Meanwhile, costs rose as the pandemic drove higher spending in a number of areas. She is also involved in the design and development of sports betting and casino gaming platform software for online and retail bookmakers, as well as casino gaming products. This implies that DKNG stock is now worth about $73 per share, or 34% above todays price. In other words, the markets outlook on the stock will roll over to the next 4-to-5-year sales and EBITDA forecasts. The company defines MUPs as users who have paid engagement across one or more product offerings. When using the forecast data, the investor assumes all financial risks. So what we have here is a company with one of the better growth opportunities in the entire market. Close price at the end of the last trading day (Friday, 17th Feb 2023) of the DKNG stock was $20.54. All forecast data on the site are provided for informational purposes of using neural forecasting tools in the financial market and are not a call to action and, This is massive growth and DraftKings will play a major role here. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/dkng-stock-should-rise-by-34-based-on-revenue-projections/. Considering the potential of the company and the industry to cater to, DKNG stock is well positioned at the current level. That is not normal. During that time there have been over 4000 blog posts made with over 10,000 charts on the markets and nearly 15 million page . Investors now can own that story at a cheaper price. Optimistic: $20.20 DraftKings Stock Prediction for Apr 2023 While gambling predictions from the AGA aren't out just yet, we expect to see similar numbers. DraftKings is using aggressive upfront promotions to capture customers that will be profitable over the long haul. 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. That is no small feat. Right now, the stock is oversold, but there are no triggers that would signal a fresh entry. Nasdaq Sign up below to get this incredible offer! The firm may achieve that target if sports betting volumes grow in the year ahead. What Is the Best EV Stock to Buy Now? Join the 500.000+ traders worldwide that chose to trade with Capital.com, Also you can contact us: Northland adjusted its price target to $45 from $75, but kept its outperform rating, as of 21 January 2022. For those of you just seeing this! 1125 N. Charles St, Baltimore, MD 21201. 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. Target values for the price of one DraftKings share for May 2025. However, that changes once the company turns profitable. Wood's flagship Ark Innovation ETF has slid 43% during the past year, but has rebounded 23% so far this year. This figure corresponds to the Average Price over the previous 50/200 days. Copyright 2023 InvestorPlace Media, LLC. Theres even room for more lines. This happens once a day. Thats a powerful and attractive combination. Build a CFD portfolio with your favourite companies. The short-term hit from canceled and postponed seasons was more than outweighed by the improved long-term outlook. Dunne scored a 9.825 on bars as LSU topped the Crimson Tide on Friday and then teamed up with fellow social media influencer Katie Sigmond for a brief five-second clip that has already surpassed 4 . Box N-4865, Nassau, Bahamas. and it easily beat analyst forecasts. The successful prediction of DraftKings' future price could yield a significant profit. The DraftKings (DKNG) story began when three co-workers bonded over a shared passion for fantasy sports. DraftKings has a strong leadership team that is extremely passionate about taking the company to the next level. Any sort of adjustment to a growth stock such as DKNG higher is bullish for investors over the near term. Article printed from InvestorPlace Media, https://investorplace.com/2021/07/buy-the-dip-in-dkng-stock-for-its-incredible-growth-outlook/. DraftKings has reported strong revenues in Q3 2021, but continues to make significant losses. 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. Theres even room for more lines. 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. After all, major sports shut down last year amid the novel coronavirus pandemic. "isTransparent": true, This clearly implies that the market is valuing DKNG many years into the future based on its forecast revenue and profitability. For the three months ended September 2021, revenue from MUPs was reported at $1.34m. DraftKings (DKNG) (Delayed Data from NSDQ) $18.86 USD +0.06 (0.32%) Updated Feb 28, 2023 04:00 PM ET After-Market: $18.69 -0.17 (-0.90%) 7:58 PM ET Add to portfolio Zacks Rank: 2-Buy 2 Style. The company made the most of the pandemic and built strong partnerships to build a path for future growth. ET on Zacks.com DraftKings To Rally Around 38%? 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. That gives DKNG stock an enterprise value of $26.85 billion. Shed 149,695 shares,. On Wall Street, analysts have an average price target of $46 per TipRanks. Our 3 Top Picks. The deal will help increase revenue and attract new users to DraftKings. DraftKings stock is lower by 10.41 percent over the past month, and the gaming name shed 29.15 percent from its March highs. It began the process for getting Nevada gaming licenses back on March 11, 2020. DKNG stock hit all time high earlier in March. The point is that it was undervalued and likely to rise. It continues to push forward in the gaming market, opening up in new markets and offering a more well-rounded experience for its users. The material provided on this website is for information purposes only and should not be understood as an investment advice. The company still risks losing customers to competitors. 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. 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. Our 3 Top Picks. I am bullish on the stock and believe it has a long way to go. 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 . 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. DKNG stock is down more than 35% from its highs in March. Pessimistic: $21.05. Lets dive into the analyst that just gave DKNG stock a big upgrade today. Chris has over 20 years of investing experience in the stock market and runs the Do-It-Yourself Value Investing Marketplace on Seeking Alpha. Customers will get a better online sportsbook experience. 5 Hypergrowth Stocks With 10X Potential in 2023, an adjusted EBITDA loss of $139.3 million on revenues of $312.7 million, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Pessimistic: $18.16. Sign up below to get this incredible offer! Vandita Jadeja is a CPA and a freelance financial copywriter who loves to read and write about stocks. The company recently released Q2 earnings and it easily beat analyst forecasts. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. However, a report from short-seller Hindenburg Research has most recently been a thorn in its side. DKNG stock pulled back despite its stellar performance and growth outlook. 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). Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. Sure, market conditions have been a big reason why LCID stock has fallen from $25 to under $10 . DraftKings is known for strong partnerships in the ever-expanding industry. It is already an official sports betting partner of the NFL, which can boost its profile and help DraftKings continue to expand. Additionally, Loop Capital believes DraftKings relationship with the NFL could be a massive catalyst. 2023 InvestorPlace Media, LLC. Theres even room for more lines. Conversely, DraftKings may post ongoing losses and a break-even quarter starting next year. The market is getting competitive, and new markets will allow DraftKings to cement its authority and expand its revenue base to new heights. On a compounded basis, that works out to 32.2% average annual growth in sales. All rights reserved. multiplying the number of shares in the company outstanding by the market price of one share. 222 Berkeley Street, Boston, MA, 02116, United States. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Investors correctly took the long view. When should I take profit in DraftKings stock? 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. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. Major sports have since returned, leading to big-time growth in DraftKings revenue. But DKNG shouldnt be cheap. Nasdaq Therefore, investors should take the report with a grain of salt, and it should not deter them from DKNG stocks bull case. Its a strategy that many other growth companies in many other markets have followed successfully in recent years. According to. At its bullish peak, speculators bet that the National Football League (NFL) season start would lift DKNG stock. This stock market technical analysis blog has been live since October 2009 (over 13 years), providing unbiased stock market technical analysis of the SP-500, Gold and more that ignores the white noise of news and politics. 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. We use cookies to ensure that we give you the best experience on our website. 1125 N. Charles St, Baltimore, MD 21201. DKNG stock was up close to 1% when markets. Based on our forecasts, a long-term increase is expected, the "NSAV" stock price prognosis for 2028-01-26 is 0.0345 USD.
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