Shares Short Prior Month - the number of shares in short positions in the last month. What Is the Best EV Stock to Buy Now? Article printed from InvestorPlace Media, https://investorplace.com/2021/11/dkng-stock-has-monstrous-potential-in-the-future-of-sports-betting/. Over the past year, DKNG stock has gone from $30 to an all-time high of $74 in March and is down to $54 today. , the online sports betting industry will go from $9.5 billion in 2020 to $37 billion in 2025. Investors need not fear Chanos assertions. Some states wont want to see revenues head to neighboring jurisdictions. According to its forecast, as of 27 January 2022, the DraftKings future stock price could potentially decline to 0.000001 by March 2023. With that in mind, lets dig deeper into the driving forces behind DKNG stock. Since then, as of June 9, it is now at $54.35. DraftKings has increased the full-year revenue target to $1.21 to $1.29 billion, which would be up to 100% YOY growth. The investor bet against Tesla (NASDAQ:TSLA), saying in December 2017 that the stock was worth zero. 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. A day after this was announced, the stock lost 0.72%. Even though sports betting is legal for DraftKings in limited places, it should lift its results. Let's take a look at a DraftKings stock forecast and find out. Pessimistic: $17.34. Recently, TSLA stock traded in the $1 trillion market capitalization. However, one analyst seems to disagree with this view. 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). Dont forget that DraftKings has a solid iGaming business where that is available: it has solid market share in New Jersey, for instance. When should I record a loss on DraftKings stock? DraftKings has reported strong revenues in Q3 2021, but continues to make significant losses. as a result of using the information contained on the site. 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. }. 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 When it reports results next quarter, investors should look at the companys operating margins closely. The company is not only offering an exciting experience to the users, but is also working on building alternative sources of revenue. Get the free SEC Filings - DraftKings Inc. Class A Common Stock (DKNG) Description . Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Draft Kings Annual Report 2021 Form 10K (NASDAQ:DENG) Published: November 5th, 2021PDF generated by stock light. On Wall Street, analysts have an average price target of $46 per TipRanks. It uses the current share price and divides it by the total earnings per share for the last 12 months. Capital Com is an execution-only service provider. The company defines MUPs as users who have paid engagement across one or more product offerings. Why Is Novavax (NVAX) Stock Up 12% Today? Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. If online sports betting is legalized in all states, the numbers could be significantly higher. 50/200 Day Moving Average: Moreover, given that estimates for 2021 are for $1.17 billion, this implies a 4-year growth rate of 205.9%. Sign up below to get this incredible offer! DraftKings (DKNG) stock Forecast for 2022 2026, This website uses cookies to ensure you get the best experience on our website. This happens once a day. A recently updated price target from Loop Capital for DKNG stock of $105 implies upside of approximately 85% from current levels. The DKNG stock forecast price, according to Market Beat, varies from the low of $23 to the high of $85. 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. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. The point is that it was undervalued and likely to rise. 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. That would validate Chanos short position because the stock trades well above its fair value. For example, in its latest quarter (Q1), DraftKings had an adjusted EBITDA loss of $139.3 million on revenues of $312.7 million. This figure corresponds to the Average Price over the previous 50/200 days. Copyright 2023 InvestorPlace Media, LLC. Famed short-seller Jim Chanos disclosed his bet against the companys stock, and Chief Executive Officer Jason Robins questioned his concerns on valuations. Interestingly, the company has enough cash to expand the market through acquisitions and it is walking on the right path. The data suggest that this NFL season is bringing a flurry of activity to DraftKings platform much greater than what analysts predicted. Nasdaq Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. As the pandemic slowly changes how we engage with sports, DraftKings has a lot to look forward to. Once profits can be clearly forecast, the valuation will be based on a discounted measure of their present value. If customers shop for a better sports betting platform, DraftKings stock will face selling pressure. Copyright On March 02, 2023, the average . DKNG share price has been in a bear cycle for the past year. 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. $14.51 / $14.65. I estimate DraftKings will have at least $2 billion in cash by 2025 from profitability and further warrant issues. Certain statements in this Annual Report on Form 10-K (this "Form 10-K") may constitute "forward-looking statements" for purposes of the federal securities laws. During pandemic-induced global lockdowns, the popularity of online gaming and betting soared. According to an algorithmic-based application, Wallet Investor, the share price for DKNG stock could potentially decline to $0.000001 by March 2023. Hello and Welcome to PUG Stock Market Analysis. DKNG Forecast. DKNG top 20 large caps. I expect that will change in short order, at which point DKNG will resume its rally. The irony is that precisely the same case is playing out again. Are you interested in DraftKings Inc. stocks prediction? Plenty of sunshine. Her knowledge of words and numbers helps her write clear stock analysis. On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. DraftKings is the undisputed king of gaming, with a fantasy sports market share of roughly 30% in the U.S. market. 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. quotes delayed at least 15 minutes, all others at least 20 minutes. In 2020, DraftKings (NASDAQ:DKNG) stock rose a sizzling 335%. He argues that sports bettingcould reach $15 billion in 2025, up from $3 billion in 2020. The company has already made impressive acquisitions and deals over the past year, and it does not appear ready to slow down anytime soon. If DKNG breaks this level, then support will drop to $15 and $11 . "colorTheme": "light", Importantly, its cash burn was US$425m over the trailing twelve months.. 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 Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. 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. The majority of retail investor accounts lose money when trading CFDs. 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. The company recently released Q2 earnings and it easily beat analyst forecasts. So what we have here is a company with one of the better growth opportunities in the entire market. The average price target is $22.86 with a high forecast of $30.00 and a low forecast of $15.00. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Copyright 2023 InvestorPlace Media, LLC. Here's one analyst price target investors in DraftKings may want to pay attention to. DraftKings (DKNG) Surges Post Earnings: ETFs in Focus Feb. 21, 2023 at 1:00 p.m. Customers will get a better online sportsbook experience. Over the past year, it has become difficult to argue the bull case for Lucid Motors (NASDAQ:LCID). The company spent around $1.56bn in acquiring Golden Nugget. We initially share this idea in October 2018 and the stock . Here Are 10 Other Analyst Forecasts For Tuesday Feb. 21, 2023 at. worth $1.56 billion. After marking a high of 74, it made a lower high of 64. 2023 - 2027? 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. On the date of publication, Vandita Jadeja did not have (either directly or indirectly) any positions in the securities mentioned in this article. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/dkng-stock-should-rise-by-34-based-on-revenue-projections/.
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