DKNG Stock Forecast

DKNG Stock Forecast

DKNG Stock Forecast: The Average DKNG Stock Forecast for the next 12 months is $20


Latest Stock Price

Draftkings Stock Forecast: Fundamental Analysis

DKNG was listed back in 2019 at a price of $9.80. Its current market capitalization is $6.92 billion. It has seen a 38.02% decline from the previous year. During the Pandemic, Market capitalization reached to $31.84 billion and the stock price soared to all-time high price of $71.98. At present, the total number of shares outstanding is 448.85 million. It has increased by 5.6% over a year.

Eps at the end of the year 2021 stood at $-0.80 and eps in 3rd quarter of this year is $-1. Price to earnings reported for the same is -15.42%.Fanduel.com, actionnetwork.com, rotowire.com, and rotogrinders.com are its top competitors.DKNG combined with its peer Fanduel dominates the US sports booking market by 60%. 

Draftkings Stock Forecast: Latest Video

YouTube video

Draftkings Stock Forecast: Latest News

  • The company struggled to process withdrawal requests – Around 2400 complaints were lodged against Draftking, Fanduel, and BetMGM in the past 3 years. The Better Business Bureau (BBB an organization that grades companies based on whether they respond through BBB) has graded Draftkings with B minus whereas Fanduel was graded A minus.
  • California voters rejected the idea of legalized sports booking – In order to promote the proposition that could have legalized online sports gambling, Draftkings had flushed out $34 million. The ballot was majorly opposed by Native American tribes that run several casinos in the state. However, Chriss Lynch the head of Gaming & Leisure at Citizens Bank predicts that it could be legalized by 2026.

Draftkings Stock Forecast: Q3 Results

  • The company reported $502 million in revenue for the 3rd Quarter, i.e. 136% jump Y-O-Y basis.
  • The company reported a net loss of $ 450 million, an improvement in loss observed by 17.3% over Y-O-Y rates.
  • Loss in Adjusted EBITDA in Q2 was $118 million whereas in Q3 the loss increased to $264 million.
  • Monthly Unique Payers in the 3rd quarter have increased to 1.6 million with average revenue per unique monthly customer being $100 versus a 1.5 million increase in Q2 with ARPMUP being $103.

Draftkings Stock Forecast: Why has the stock soared during the past few days?

Despite of rejected ballot proposition of legalized online sports betting, the stock price has surged by 26.51%. It has crossed its 50-day moving average and the stock price rose to $15.42. With this pace, it may soon cross its 200 DMA. 

It seems to have gotten into a reversal trend line when prices tumbled to $11.30. the overall sentiments for the company appear positive as it had a more than 100% jump in revenue and the KPIs (Key Performance Indicator stated above) have also stood firm. The company also launched its products in Arizona and Kansas. the regulatory approval in favor of DraftKings in Maryland, Puerto Rico, Ohio, and Massachusetts, as well as key partnership announcements, could be out in the near future. It featured new content on NFL, MLB, and Golf. 

Draftkings Stock Forecast: Price Prediction for the next 12 months

Average DKNG Stock Forecast for the next 12 Months$20
JMP Securities$23
Morgan Stanley$30
Barclays$15
JPMC$12

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

Vineet

Vineet

Vineet Agarwal is a trained technical analyst and avid stock trader. A graduate from a Top Technology Institute, Vineet carries out extensive technical and secondary research for this authored stock forecasts.

This site uses Akismet to reduce spam. Learn how your comment data is processed.