Lets dive into the analyst that just gave DKNG stock a big upgrade today. DraftKings has reported strong revenues in Q3 2021, but continues to make significant losses. Forecasts shouldn't be used as a substitute for your own research. DraftKings has solid potential in the industry and it could become one of the top players by 2023. The stock is clearly undervalued considering the market and the ability of the company to generate revenues. For those of you just seeing this! On 26 January 2021, DKNG stock closed at $54.06. With the help of SBTech, DraftKings has been able to vertically integrate its business by owning its own technology platform for its primary product offering of sports entertainment and betting. In late summer 2021, DraftKings (NASDAQ: DKNG) rebounded to more than $60 and looked ready to find a new high. Yet investors dont seem nearly as excited. What Is the Best EV Stock to Buy Now? DraftKings reported a better-than-expected quarter with, Strategic Partnerships That Will Lead Growth. For example, Seeking Alpha indicates that on average analysts estimate revenue will reach $3.58 billion by 2025. Wallet Investor is bearish on DraftKings stock value, restricting our scope to provide DraftKings stock outlook for 2025-2030. 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. Right now, the stock is oversold, but there are no triggers that would signal a fresh entry. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. moreover, are not trading signals. 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). Snapped up 210,644 shares estimated to be worth about $11.05 million in DraftKings Inc (NASDAQ:DKNG) on the dip. DKNG DraftKings Inc 110,513 $18.86 $0.06 (0.32%) Today $18.95 0.09 (0.48%) Pre-Market Market Cap $8.49B Volume (M) 1,006.00 52-Wk High $25.01 52-Wk Low $9.77 About Feed Sentiment Fundamentals News There is no chart data available for this period 1d 1w 1m 3m 6m 1y All Sentiment Score Message Volume Score Disclaimer: This is informational only. Considering the potential of the company and the industry to cater to, DKNG stock is well positioned at the current level. 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. DKNG stock can reach $70 as the company makes all the right moves By Vandita Jadeja Aug 12, 2021, 3:45 pm EST Online gambling app DraftKings (NASDAQ: DKNG) has certainly had an excellent. Opinions on the stock are mixed, with 16 analysts rating it as a "buy," 0 as "overweight," 7 as "hold," and 1 as "sell.". Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. Despite the fact that DKNG stock's price has bottomed, the path toward higher levels seem to be challenging. Chris has over 20 years of investing experience in the stock market and runs the Do-It-Yourself Value Investing Marketplace on Seeking Alpha. DraftKings (Nasdaq: DKNG) Stock Forecast We'll start with an explainer about what does DraftKings does. DKNG stock has now risen from a recent closing low on July 16 of $43.79 to $51.98 as of the close on. The benefits from its expansion strategies remain to be seen. 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. But this result reflected marketing expenses of $228.7 million, or 73.2% of sales. Copyright 2023 InvestorPlace Media, LLC. The bad news for shareholders is that insiders sold more shares in the last 12 months than they bought. A16 ated in 2021 to move the talc Major U.S. stock indexes injury . { Lorem ipsum dolor sit amet, consectetur adipiscing elit. According to data compiled by Market Beat, of 26 analysts, 17 rated the DKNG stock a buy, eight suggested a hold and one recommended a sell. It appears the annual fall selloff has come early this year. DraftKings and Penn National Gamings (NASDAQ:PENN) Barstool Sports are seeking petition signers to support adding sports betting to the Florida ballot. DKNG stock returns are also predicted based on historical data. DraftKings went public on the Nasdaq on 24 April 2020 through a tri-merger with special purpose acquisition company (SPAC) Diamond Eagle and a Bulgaria-based gaming technology company called SBTech. On the date of publication, Chris Lau did not have (either directly or indirectly) any positions in the securities mentioned in this article. While the effectiveness of this highly sought-after metric is questionable,. Theres even room for more lines. DKNG Stock Down Despite Impressive Price Target Currently, DKNG trades at roughly $56 per share. These are two of many partnerships the company has formed to increase growth. New states will follow. 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. worth $1.56 billion. While gambling predictions from the AGA aren't out just yet, we expect to see similar numbers. The short float on DKNG stock is around 10%. Detailed values for the DraftKings stock price can be found in the table below. Just from what weve seen so far, the 2020 case for DKNG stock looks like it was on point. 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. Thats a logical strategy. 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. Its growing its user base swiftly, more than doubling its average monthly unique players for the first quarter. High 56F. It has become a huge hit with sports fanatics. Her knowledge of words and numbers helps her write clear stock analysis. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. As the pandemic slowly changes how we engage with sports, DraftKings has a lot to look forward to. 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. Pessimistic target level: 18.99. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. 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. The average price target represents a 23.04% change from the last price of $18.58. On 5 November, when Q3 2021 results were announced, the stock was trading at $43.62 by 12 November it had fallen to $40.51. Today, DKNG is down more than 5%, despite a rather bullish catalyst for this gambling stock. As a result of strong engagement and cross-selling initiatives, average revenue per MUP (ARPMUP) increased by 38.23%, from $34 to $47. In Florida, the launch of legalized sports betting stalled. Nasdaq Investors are compensated by holding a firm belief that it is a leader in the betting field. What Is the Best EV Stock to Buy Now? Theres even room for more lines. DraftKings will report third-quarter results on Nov 5. The median. Capital Com is an execution-only service provider. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 1125 N. Charles St, Baltimore, MD 21201. Pessimistic: $19.23. Buy or sell stock? What is the future of DraftKings stock? Financial Statements Analyst Forecast According to 40 analysts, the average rating for DKNG stock is "Buy." Despite the impact of the pandemic which led to short seasons and canceled tournaments, online sports betting has been consistently growing. On the same day, Needham reiterated its buy, but lowered its price target to $46 from $73. Its difficult to see why. Pessimistic: $21.62. Article printed from InvestorPlace Media, https://investorplace.com/moneywire/2021/04/bigger-market-cheaper-price-make-dkng-stock-buy/. Their mutual passion evolved to build a sports betting company with footprints in eight countries. Forward P/E uses projections of future earnings instead of final numbers. If this momentum continues, its certainly possible DraftKings could post some blowout quarters. Pessimistic: $18.40. DraftKings (DKNG) stock Forecast for 2022 2026, This website uses cookies to ensure you get the best experience on our website. "isTransparent": true, 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. FAQ. 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.. 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. By 2025, the sports betting industry is projected to be worth $15 billion. The company is one of the biggest players in the sports betting industry. Lorem ipsum dolor sit amet, consectetur adipiscing elit. That came a day after Penn National Gaming (. And DraftKings long-term opportunity is as good as anyone. The average Tattooed Chef stock price prediction forecasts a potential upside of 437.19% from the current TTCF share price of $1.21. On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. Right now, no triggers for any actions.. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Therefore, investors should take the report with a grain of salt, and it should not deter them from DKNG stocks bull case. multiplying the number of shares in the company outstanding by the market price of one share. quotes delayed at least 15 minutes, all others at least 20 minutes. Its down from $71.98 on March 19 to $54.35. Traders also thought sports betting gaming license wins would be positive catalysts. Shares of the Boston-based company sank as much as 19% in New York, their biggest drop since March 2020. Article printed from InvestorPlace Media, https://investorplace.com/2022/01/why-dkng-stock-is-out-of-favor-despite-its-strong-prospects/. 2023 InvestorPlace Media, LLC. 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). In Q3 2020, it was $1.02m. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. DraftKings needs to shrink its expenses in the quarters ahead. According to an algorithmic-based application, Wallet Investor, the share price for DKNG stock could potentially decline to $0.000001 by March 2023. 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. 2023 InvestorPlace Media, LLC. On average, analysts forecast that TTCF's EPS will be -$0.39 for 2023 . On 25 January 2022, Moffett Nathanson slashed its DraftKings stock projection target from $36 to $25, but maintained its neutral rating. Since then, the stock has lost 64.26% in value, reaching $20.33, at the time of writing (27 January 2022). The point is that it was undervalued and likely to rise. Loop Capital believes the fact that DraftKings has become the No. 1125 N. Charles St, Baltimore, MD 21201. My new valuation is $73 per share, or 34.2% higher than today. 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. If online sports betting is legalized in all states, the numbers could be significantly higher. When should I record a loss on DraftKings stock? Thats because valuation isnt based on a metric or two in a given way. Forecst.com predicts future values using technical analysis of a large number of analytical parameters. Although the recent deal withEntain Plcdid not work out, DraftKings made several partnerships and acquisitions that will work in its favor. Shares Short Prior Month - the number of shares in short positions in the last month. A key performance indicator is growth in the number of monthly unique payers (MUPs). Optimistic: $20.61, An uptrend is forecast for this month with an optimal target price of $20.8081. The chart below shows the historical price of DraftKings stock and a prediction chart for the next month. And we have a stock thats pulled back substantially from its highs. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. This is because the market assumes that the sports betting market will continue to grow dramatically. We forecast DraftKings stock performance using neural networks based on historical data on DraftKings stocks. and it easily beat analyst forecasts. 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. 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. All rights reserved. Poteau, OK (74953) Today. All rights reserved. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. If the company continues to increase the average revenue per monthly unique player, it will gain a strong position in the industry. Over the past year, it has become difficult to argue the bull case for Lucid Motors (NASDAQ:LCID). If customers shop for a better sports betting platform, DraftKings stock will face selling pressure. 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. Further, it has announced a multi-year deal with Genius Sports (NYSE:GENI), a National Football League (NFL) data provider. Investors correctly took the long view. It cannot rely on rising advertising spending to grow. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. However, those concerns are simply a diversion from the companys long-term bull case. The stock is above fair value at current levels. We use cookies to ensure that we give you the best experience on our website. A recently updated price target from Loop Capital for DKNG stock of $105 implies upside of.