On 26 January 2021, DKNG stock closed at $54.06. "colorTheme": "light", Indeed, the moves in DKNG stock have been impressive this year. Source: Lori. Optimistic: $23.33, An downtrend is forecast for this month with an optimal target price of $22.3121. On March 02, 2023, the average . These are two of many partnerships the company has formed to increase growth. DraftKings stock prediction results are shown below and presented in the form of graphs, tables and text information, divided into time intervals. Optimistic: $20.20 DraftKings Stock Prediction for Apr 2023 Financial Statements Analyst Forecast According to 40 analysts, the average rating for DKNG stock is "Buy." DKNG made it to the top 20. It will also help reduce the losses of DraftKings as Golden Nugget is a solid, revenue-generating company. Capital Com is an execution-only service provider. Moreover, the company has a keen eye for innovation and introduced several new features to drive engagement on its platform. According to its forecast, as of 27 January 2022, the DraftKings future stock price could potentially decline to 0.000001 by March 2023. Investors correctly took the long view. The majority of retail investor accounts lose money when trading CFDs. At its bullish peak, speculators bet that the National Football League (NFL) season start would lift DKNG stock. The median. By 2025, the sports betting industry is projected to be worth $15 billion. 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. One of the hottest stocks right now,DraftKings(NASDAQ:DKNG), has been an intriguing company to watch. 2023 InvestorPlace Media, LLC. Jason Robins, co-founder and CEO of DraftKings, commented on the merger: DKNG stock launched at $20.49. Will DKNG stock price go up? The market is getting competitive, and new markets will allow DraftKings to cement its authority and expand its revenue base to new heights. When should I record a loss on DraftKings stock? Our 3 Top Picks. Copyright 2023 InvestorPlace Media, LLC. So far in 2021, DKNG has gained another 21% though that includes the recent sell-off from last months highs. Our 3 Top Picks. Copyright 2023 InvestorPlace Media, LLC. Thats exactly what is happening. 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 . DraftKings Stock Forecast: heading to $15. A day after this was announced, the stock lost 0.72%. Nevertheless, DKNG stock is now positive for the year (+16.73%), as it closed at $46.56 on Dec. 31. The company recently released Q2 earnings and it easily beat analyst forecasts. Poteau, OK (74953) Today. For now, Chanos is right that the excessive valuation will lead to a drop. Traders also thought sports betting gaming license wins would be positive catalysts. On the same day, Needham reiterated its buy, but lowered its price target to $46 from $73. She believes in buying and holding for long term gains. The firm may achieve that target if sports betting volumes grow in the year ahead. All rights reserved. DraftKings needs to shrink its expenses in the quarters ahead. A recently updated price target from Loop Capital for DKNG stock of $105 implies upside of. 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. This implies that DKNG stock is now worth about $73 per share, or 34% above todays price. Is DKNG a good long term stock? Article printed from InvestorPlace Media, https://investorplace.com/2022/01/why-dkng-stock-is-out-of-favor-despite-its-strong-prospects/. If DKNG breaks this level, then support will drop to $15 and $11 . Join us as we find out what lies ahead for this sports betting company, undertake a DraftKings share price forecast and get analyst insights on DraftKings stock potential. DraftKings has solid potential in the industry and it could become one of the top players by 2023. Its down from $71.98 on March 19 to $54.35. Within a week from the third quarter financial results being made public, the DKNG stock price had fallen by 7.12%. Key support is seen around 15.15 which is expected to be maintained throughout the first half of 2023. The benefits from its expansion strategies remain to be seen. Copyright I have my hopes pinned on this partnership which will help expand the company. The company is one of the biggest players in the sports betting industry. For the three months ended September 2021, revenue from MUPs was reported at $1.34m. Additionally, it also launches social media features on its platform, enabling customers to interact and share their bets effectively. 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. What Is the Best EV Stock to Buy Now? I believe DKNG stock will certainly reach the all-time high again, but it may take some time. Our 3 Top Picks. On Jan. 12, 2022, DraftKings said it will become the official sportsbook provider of the Oregon Lottery. Still, DraftKings heavy advertising spending is temporary. Fortunately, DraftKings has a strong brand name that consumers recognize. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. In short-term stock is facing big hurdles around 23 and 23.5 and there is possibility of major pull-back around the resistance zone. The weighted average target price per DraftKings share in May 2025 is: 19.84. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 2023 Capital Com Online Investments Ltd. 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. The applications are still pending. "symbol": "NASDAQ:DKNG", What Is the Best EV Stock to Buy Now? 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. Yet investors dont seem nearly as excited. EPS shows how much of the net profit is accounted for by the common share. quotes delayed at least 15 minutes, all others at least 20 minutes. Build a CFD portfolio with your favourite companies. Over that stretch, the S&P 500 has rallied about 20%. Its about the long term. Plenty of sunshine. Is This the Best Way to Invest in the AI Gold Rush? DraftKings reported revenues of $312 million, representing year-over-year growth of 175%. Optimistic: $20.56, An uptrend is forecast for this month with an optimal target price of $19.8683. My new valuation is $73 per share, or 34.2% higher than today. DraftKings is one of the largest operators of fantasy sports services. . DraftKings has reported strong revenues in Q3 2021, but continues to make significant losses. Some states wont want to see revenues head to neighboring jurisdictions. Ops) Growth trends, charts, and more. An analysts DraftKings stock analysis is based on making fundamental and technical studies of the stocks performance. DKNG - Company Profile for DRAFTKINGS INC. - MSN Money Choose a language United States (English) - en United States (espaol) - es +0.05 +0.37% After Hours : 13.89 +0.16 +1.17% July 28, 2022. Any sort of adjustment to a growth stock such as DKNG higher is bullish for investors over the near term. A company with a weak moat has a broken business model. At its bullish peak, speculators bet that the National Football League (NFL). stock price in 2023, 2024, 2025, 2026, 2027. We use cookies to ensure that we give you the best experience on our website. The report alleges that the business has done business in Iran and has been involved in illegal gambling activity. For example, in its latest quarter (Q1), DraftKings had an adjusted EBITDA loss of $139.3 million on revenues of $312.7 million. 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. Nasdaq Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Naturally, many of these proposals will not make it past the finish line. 1125 N. Charles St, Baltimore, MD 21201. Copyright DraftKings will report third-quarter results on Nov 5. In the quarters ahead, DraftKings needs to demonstrate sustained revenue growth as operating expenses declined. More importantly, it has been collaborating with Dish Networks (NASDAQ:DISH) Sling TV to offer sports betting information that effectively ties in sports updates into betting odds. 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. DKNG (DKNG) Monthly Stock Prediction for 2023 Full forecast for 2023 DraftKings forecast for this year DraftKings Stock Prediction for Mar 2023 An uptrend is forecast for this month with an optimal target price of $ 18.9448. The company defines MUPs as users who have paid engagement across one or more product offerings. Your current $100 investment may be up to $1189.67 in 2028. Right now, no triggers for any actions.. The best performer of the Sportico Sports Stock Index was DraftKings (DKNG), which for the second-month in a row outpaced peers as investors increasingly view the business as the best play in U.S . 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. DraftKings is expected to announce Q3 earnings on November 5th, 2021. That includes DraftKings (DKNG), which just caught double bottom support around $18 - and could see higher highs. 1125 N. Charles St, Baltimore, MD 21201. I estimate DraftKings will have at least $2 billion in cash by 2025 from profitability and further warrant issues. The average Tattooed Chef stock price prediction forecasts a potential upside of 437.19% from the current TTCF share price of $1.21. Stock Price Forecast The 3 analysts offering 12-month price forecasts for Tattooed Chef Inc have a median target of 2.00, with a high estimate of 3.00 and a low estimate of 1.50. Theres even room for more lines. Algorithm-based forecasting service Wallet Investor, which usually provides 5-year price targets for stocks, does not offer a DraftKings stock prediction beyond February 2024. (Next month, 2023, 2024, 2025, 2026 and 2027) Future price predictions and analyst forecasts DKNG stock is promising for the long term and has a massive user base. This transaction is expected to be wrapped up in the next six months and it will add 5 million users to the company. What Is the Best EV Stock to Buy Now? DraftKings Inc. stock trend is negative . DraftKings Has Monstrous Potential in the Future of Sports Betting DKNG stock looks undervalued considering the potential of the company By Vandita Jadeja Nov 1, 2021, 6:00 am EST Online. 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). That gives DKNG stock an enterprise value of $26.85 billion. It represents a massive market for DraftKings to gain entry if it can. Theres even room for more lines. That implies that DraftKings market share would be slightly less than a quarter by 2025. The NFL post-season will have strong betting volumes compared to the regular season. The DraftKings (DKNG) story began when three co-workers bonded over a shared passion for fantasy sports. Theres a simple reason why DKNG and other sports betting stocks rallied in 2020. If the company continues to increase the average revenue per monthly unique player, it will gain a strong position in the industry. According to our research, DKNG stock is a bad long-term investment. LSU gymnast Olivia Dunne ended last week on a high note as she helped the Tigers to a victory over Alabama in her first appearance of the season and Tuesday introduced the "newest recruit.". 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 has a stronghold on the industry and is making the right moves with partnerships and acquisitions to ensure that it grabs maximum users. And now New York, the countrys fourth-most populous state, is launching mobile wagering. DraftKings (DKNG) Surges Post Earnings: ETFs in Focus Feb. 21, 2023 at 1:00 p.m. As a result of strong engagement and cross-selling initiatives, average revenue per MUP (ARPMUP) increased by 38.23%, from $34 to $47. He shares his stock picks so readers get original insight that helps improve investment returns. Currently, DKNG trades at roughly $56 per share. 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. The company recently acquired Golden Nugget (NASDAQ:GNOG), an online gambling service, for an all-stock transaction worth $1.56 billion. DraftKings Stock Should Rise By 34% Based on Revenue Projections By 2025, the sports betting industry is projected to be worth $15 billion By Mark R. Hake, CFA Jun 9, 2021, 2:57 pm EST Last. Why Is Novavax (NVAX) Stock Up 12% Today? $14.51 / $14.65. Profits are likely a couple of years away. I am bullish on the stock and believe it has a long way to go. 1125 N. Charles St, Baltimore, MD 21201. That forecast, however, was overshadowed by a wider-than-expected projected loss. Optimistic: $20.20, An uptrend is forecast for this month with an optimal target price of $19.695. The material provided on this website is for information purposes only and should not be understood as an investment advice. Wallet Investor is bearish on DraftKings stock value, restricting our scope to provide DraftKings stock outlook for 2025-2030. The rest of this article will explain how I value DKNG stock, so you can have a simple understanding of my working model. Ark Investments Cathie Wood is a fan of DKNG stock and has bought it time and again. With this multi-year sports data agreement, DraftKings will get access to a full portfolio of sports data and content, including official NFL data. Moreover, I now believe that that the market is clearly valuing the stock based on its 2025 forecast revenue numbers. It has shown volatility since then and is trading much lower at less than $47 today. The one-month trend of DKNG stock has the share prices remaining in the middle of the volatility range, before rising above the 20-day moving average in the weeks before earnings. Another highlight of Q3 2021 was migration from Kambi to its in-house technology platform powered by SBTech.