Counted STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10K/A Fill & Sign Online, Print, Email, Fax, or Download . The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. 2023 InvestorPlace Media, LLC. The deal will help increase revenue and attract new users to DraftKings. quotes delayed at least 15 minutes, all others at least 20 minutes. Leidos's latest twelve months net income to stockholders (cont. DraftKings Stock Jumps as Jefferies Forecasts Russell Rebalance Buying It was fourth quarter earnings that helped drive the rally to last months highs, thanks in part to raised guidance for this year. 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. Copyright One of the states that introduced legislation in 2021 in New York, which boasts a population of over 19 million. For the year ended Dec. 31, 2022, DraftKings reported revenue of $2.2 billion, which represented 69% growth year over year. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. After all, right now the stock has a huge price-to-sales ratio. As the wave of legalization of OSB continues in the country, DraftKings has a shot at stamping its authority on the sector. DKNG top 20 large caps. 2023 Capital Com Online Investments Ltd. Despite the fact that DKNG stock's price has bottomed, the path toward higher levels seem to be challenging. I am bullish on the stock and believe it has a long way to go. Draftkings has been making some interesting acquisitions lately including the recent deal to acquire Golden Nugget Online Gaming in an all-stock deal valued at approximately $1.56 billion, which will eventually allow the company to move into the lucrative Nevada sports wagering market. I also believe its newly-launched NFT platform will work in favor of the company and eventually attract new users to the platform. The company revised its full-year outlook after reporting smashing results and a company will only take this step when it is confident of meeting the expectations. However, a report from short-seller Hindenburg Research has most recently been a thorn in its side. The benefits from its expansion strategies remain to be seen. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. It represents a massive market for DraftKings to gain entry if it can. Theres even room for international expansion over time, as DraftKings has offices in Europe as well. Therefore, assuming 50% margins, EBITDA will reach $1.79 billion by 2025. Online gambling app DraftKings (NASDAQ:DKNG) has certainly had an excellent year. Some states wont want to see revenues head to neighboring jurisdictions. Vandita Jadeja is a CPA and a freelance financial copywriter who loves to read and write about stocks. { Article printed from InvestorPlace Media, https://investorplace.com/2021/07/buy-the-dip-in-dkng-stock-for-its-incredible-growth-outlook/. It indicated that sales for 2021 will be in the range of $1.21 billion to $1.29 billion. 2023 InvestorPlace Media, LLC. The stock will go higher in the coming months and this dip is a good chance to enter. DraftKings Stock Forecast: DKNG drops 20%, may reach $15 - FXStreet Fortunately, DraftKings has a strong brand name that consumers recognize. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff. We will see a lot of action around the start of this years football season. Tattooed Chef Inc Stock Forecast, Predictions & Price Target Bears may justify the ongoing losses as a reason to bet against the company. On the app store, Oregon Lottery will replace the Scoreboard app with DraftKings Sportsbook. So far in 2021, DKNG has gained another 21% though that includes the recent sell-off from last months highs. 1125 N. Charles St, Baltimore, MD 21201. I believe DKNG stock will certainly reach the all-time high again, but it may take some time. 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. 2023 InvestorPlace Media, LLC. 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, Sign up below to get this incredible offer! DKNG Stock Price and Chart NASDAQ:DKNG TradingView Here are the top 20 stocks that have the highest upside according to Wall Street analysts. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The average of price targets set by Wall Street analysts indicates a potential upside of 27.7% in DraftKings (DKNG). In November 2021, the federal court made a ruling that puts an end to sports betting legalization. (Next month, 2023, 2024, 2025, 2026 and 2027) The softer performance this year doesnt seem to make much sense. That came a day after Penn National Gaming (. Is This the King of Betting Stocks? | Nasdaq DraftKings reported revenues of $312 million, representing year-over-year growth of 175%. DKNG stock looks undervalued considering the potential of the company. Loop Capital believes the fact that DraftKings has become the No. At its bullish peak, speculators bet that the National Football League (NFL). DraftKings Inc., Tesla, H&R Block, Inc., among others, are approaching price targets. Key support is seen around 15.15 which is expected to be maintained throughout the first half of 2023. quotes delayed at least 15 minutes, all others at least 20 minutes. DKNG stock hit all time high earlier in March. But its equity market cap is $21.49 billion. Yamana Gold Inc. (AUY) Stock: What the Analysts are Saying Let's take a look at a DraftKings stock forecast and find out. If the company continues to increase the average revenue per monthly unique player, it will gain a strong position in the industry. Theres even room for more lines. Forecst.com predicts future values using technical analysis of a large number of analytical parameters. When should I record a loss on DraftKings stock? "symbol": "NASDAQ:DKNG", Despite the impact of the pandemic which led to short seasons and canceled tournaments, online sports betting has been consistently growing. The lists should serve as a good starting point to find ideas to invest . Lorem ipsum dolor sit amet, consectetur adipiscing elit. Wall Street Wary of Man United, WWE Deals as Sports Stocks Slump A company will only raise its guidance if it is confident it can match or beat its forecast, and DraftKings looks set to dominate the market. Thats because valuation isnt based on a metric or two in a given way. Moreover, the company has a keen eye for innovation and introduced several new features to drive engagement on its platform. New states will follow. 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. "locale": "en" DraftKings Stock Forecast: heading to $15. }. 2023 InvestorPlace Media, LLC. Analyst Report: DraftKings Inc DraftKings Inc., based in Boston, is a digital sports entertainment and gaming company that provides users with daily sports, sports betting, and iGaming . After all, major sports shut down last year amid the novel coronavirus pandemic. DKNG stock rose 5.58%, up from $25.8 to $27.24 on 8 January 2022. 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. It continues to innovate and offer new unique features to improve the quality of its service. It is already an official sports betting partner of the NFL, which can boost its profile and help DraftKings continue to expand. Thats why DKNG stock and other sports betting names rose in 2020: investors believed the pandemic would lead to faster, broader legalization. All rights reserved. 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. Keep in mind that DKNG stock is well off of its highs. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. The chart below shows the historical price of DraftKings stock and a prediction chart for the next month. Today marks another milestone for DraftKings and the future of digital sports entertainment and gaming in America. DraftKings Inc. (NASDAQ:DKNG) Q4 2022 Earnings Call Transcript All rights reserved. Any sort of adjustment to a growth stock such as DKNG higher is bullish for investors over the near term. DraftKings (DKNG) stock forecast: time for a new monarch? - Capital Always conduct your own due diligence before investing. Jefferies forecasts a 2.8 percent decline for the consumer . Just from what weve seen so far, the 2020 case for DKNG stock looks like it was on point. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. When should I take profit in DraftKings stock? Thats a powerful and attractive combination. 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 . As a result of strong engagement and cross-selling initiatives, average revenue per MUP (ARPMUP) increased by 38.23%, from $34 to $47. DraftKings Inc. (DKNG) Analyst Ratings, Estimates & Forecasts - Yahoo The pandaforecast.com portal is not responsible for the loss of your money in the stock market Investors correctly took the long view. Pessimistic: $21.05. Box N-4865, Nassau, Bahamas. According toPRNewswire, the online sports betting industry will go from $9.5 billion in 2020 to $37 billion in 2025. And now New York, the countrys fourth-most populous state, is launching mobile wagering. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. In addition, I dont think that it matters that much that the estimates I am using relate to 2025. After marking a high of 74, it made a lower high of 64. DraftKings stock is lower by 10.41 percent over the past month, and the gaming name shed 29.15 percent from its March highs. On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. If yes, then on this page you will find useful information about the dynamics of the DraftKings In other words, the markets outlook on the stock will roll over to the next 4-to-5-year sales and EBITDA forecasts. "colorTheme": "light", Stock Price Forecast The 2 analysts offering 12-month price forecasts for Rekor Systems Inc have a median target of 3.50, with a high estimate of 4.00 and a low estimate of 3.00. Article printed from InvestorPlace Media, https://investorplace.com/2022/01/why-dkng-stock-is-out-of-favor-despite-its-strong-prospects/. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. And never invest or trade money you cannot afford to lose. Naturally, many of these proposals will not make it past the finish line. Look at software or e-commerce: most of the biggest winners in those sectors had skeptics hollering about valuation all the way up. High 56F. On a compounded basis, that works out to 32.2% average annual growth in sales. DraftKings is known for strong partnerships in the ever-expanding industry. DKNG Historical Ratings and Targets. DraftKings will report third-quarter results on Nov 5. 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 Is Set for Growth With Strong Q2 Results and Partnerships. Copyright 2023 InvestorPlace Media, LLC. 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. 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 . Losses were -$1.38 billion, -9.53% less than in 2021. Is DKNG Stock a Buy After the DraftKings Hindenburg Research - Insider It still has plenty of growth in existing markets as users come on board. However, the online sportsbook market is in its infancy at this stage. 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. Its a strategy that many other growth companies in many other markets have followed successfully in recent years. Within a week from the third quarter financial results being made public, the DKNG stock price had fallen by 7.12%. New state launches will continue playing a major role in sustaining its lofty growth numbers in the future. 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. Be that as it may, short sellers typically have vested interests in spreading such news. Given our strong start to 2021 and underlying acquisition, retention, and monetization of players, we are increasing our guidance to $1.05 billion to $1.15 billion of revenue for 2021, which. The investor bet against Tesla (NASDAQ:TSLA), saying in December 2017 that the stock was worth zero. 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. Chart of the Day: DraftKings (DKNG) - TradeWins Daily In Florida, the launch of legalized sports betting stalled. Snapped up 210,644 shares estimated to be worth about $11.05 million in DraftKings Inc (NASDAQ:DKNG) on the dip. losed Joint Stock Company FinTech Solutions, Future price predictions and analyst forecasts. Cathie Wood Watch: Ark Pares Exact Sciences, Other Holdings This achievement will complement the companys goal of building a top-rated online sportsbook. The New York Times was among the many media organizations in 2020 that pushed the narrative that the COVID lab leak theory was some sort of wild conspiracy being pushed by the far right.. As the Times reported earlier this week, "new intelligence has prompted the Energy Department to conclude that an accidental laboratory leak in China most likely caused the coronavirus pandemic." 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). Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. P/E ratio (price to earnings) - shows the ratio between the price of a share and the company's profit. In the quarters ahead, DraftKings needs to demonstrate sustained revenue growth as operating expenses declined. Wallstreetjournal 20230131 TheWallStreetJournal | PDF | Federal Reserve DKNG stock is promising for the long term and has a massive user base. What You Should Know. Sign up below to get this incredible offer! DKNG Stock: DraftKings Earnings Top, Guidance Raised, But User Growth Pessimistic: $21.43. Just a potential class action/investigation for Hindenburg hit piece He shares his stock picks so readers get original insight that helps improve investment returns. It has shown volatility since then and is trading much lower at less than $47 today. For the three months ended September 2021, revenue from MUPs was reported at $1.34m. A day after this was announced, the stock lost 0.72%. 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. 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. According to an algorithmic-based application, Wallet Investor, the share price for DKNG stock could potentially decline to $0.000001 by March 2023. The average DRAFTKINGS INC - CL A stock forecast represents a 43.27% increase from the last price of $14.2600002288818. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/dkng-stock-should-rise-by-34-based-on-revenue-projections/. All rights reserved. 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. News on the political front looks positive. That is the reason why I dont feel right now that is important to discount the future sales and EBITDA to the present. . Despite the pandemic, DraftKings has seen increases in its user numbers and its market share. 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.". DKNG stock hardly is cheap: it trades at more than 30x 2020 revenue. Sign up below to get this incredible offer! Indeed, the fact that DraftKings is gaining market share much faster than its peers is a key catalyst for this price target hike. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. (NASDAQ: TTCF) Tattooed Chef's current Earnings Per Share (EPS) is -$1.20. DraftKings (DKNG) stock forecast for 2025 - PandaForecast.com In fact, when combining a Zacks Rank #3 or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time, while they also saw 28.3% annual returns on average, according . DraftKings (DKNG) Pe Ratio (TTM) - Zacks.com Lorem ipsum dolor sit amet, consectetur adipiscing elit. Investors need not fear Chanos assertions. DraftKings Inc. stock trend is negative. 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. Considering the potential of the company and the industry to cater to, DKNG stock is well positioned at the current level. DraftK ings Inc. headquartered in Boston, Massachusetts. This is because the market assumes that the sports betting market will continue to grow dramatically. One of the hottest stocks right now,DraftKings(NASDAQ:DKNG), has been an intriguing company to watch. 3 Popular Reddit Stocks to Liquidate Before Another Market Selloff Its growing its user base swiftly, more than doubling its average monthly unique players for the first quarter. Optimistic target level: 21.19. Copyright 2023 InvestorPlace Media, LLC. The company still risks losing customers to competitors. The consensus 12-month DraftKings stock price target is $56.13. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Meanwhile, costs rose as the pandemic drove higher spending in a number of areas. Capital Com Online Investments Ltd is a limited liability company with company number 209236B. The stock has been trading in the range of $40s for a month and I do not see a breakout point any time soon. Recently, TSLA stock traded in the $1 trillion market capitalization. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Most recently, it reported its first-quarter earnings in May, which showed that the business was growing at a rapid rate. Today, DKNG is down more than 5%, despite a rather bullish catalyst for this gambling stock. A key performance indicator is growth in the number of monthly unique payers (MUPs). quotes delayed at least 15 minutes, all others at least 20 minutes. 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. 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. As the pandemic slowly changes how we engage with sports, DraftKings has a lot to look forward to. For now, Chanos is right that the excessive valuation will lead to a drop. 1125 N. Charles St, Baltimore, MD 21201. call +44 20 3097 8888 support@capital.com. ET on Zacks.com DraftKings To Rally Around 38%? It began the process for getting Nevada gaming licenses back on March 11, 2020. On the date of publication, Chris Lau did not have (either directly or indirectly) any positions in the securities mentioned in this article. At its core, my model depends on a report by Morgan Stanley analyst Thomas Allen. When using the forecast data, the investor assumes all financial risks. How much will one DraftKings share be worth in DraftKings told investors on Friday that it expected to reach profitability by one financial measure in late 2023. And it shouldnt be profitable, either. 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. Opinions on the stock are mixed, with 2 analysts rating it as a "buy," 0 as "overweight," 6 as "hold," and 2 as "sell.". Hello and Welcome to PUG Stock Market Analysis. DKNG | DraftKings Inc. Cl A Analyst Estimates | MarketWatch 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. The company is not only offering an exciting experience to the users, but is also working on building alternative sources of revenue. The short-term hit from canceled and postponed seasons was more than outweighed by the improved long-term outlook. Pessimistic: $20.82. Right from the comfort of your home, you can engage in a game and socialize with your friends. Conversely, DraftKings may post ongoing losses and a break-even quarter starting next year. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. This implies that DKNG stock is now worth about $73 per share, or 34% above todays price. DraftKings (NASDAQ:DKNG) Growth is Outpacing the Cash Burn DraftKings (DKNG) Option Traders Betting on Earnings - Investopedia 1125 N. Charles St, Baltimore, MD 21201. quotes delayed at least 15 minutes, all others at least 20 minutes. 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. Indeed, the moves in DKNG stock have been impressive this year. All rights reserved. On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. This win will lift the companys brand awareness and give it an edge over the competition. Theres even room for more lines. Further, it has announced a multi-year deal with Genius Sports (NYSE:GENI), a National Football League (NFL) data provider. Optimistic: $23.78, An uptrend is forecast for this month with an optimal target price of $22.4839. Net Income to Stockholders (Cont. Ops) Growth For Leidos Holdings, Inc The company spent around $1.56bn in acquiring Golden Nugget. Others, like California, need to work through a nest of competing interests. Theres even room for more lines. We forecast DraftKings stock performance using neural networks based on historical data on DraftKings stocks.