#DKNG analyst estimates

[reportwire]

DKNG Stock Price | DraftKings Inc. Stock Quote (U.S.: Nasdaq) | MarketWatch

DKNG Stock Price | DraftKings Inc. Stock Quote (U.S.: Nasdaq) | MarketWatch

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit http://www.marketwatch.com or the quote page for more information about this breaking news. Source link

[ailtrahq]

DKNG Stock Price has turned out to be a multi-bagger Stock adding 62.71% to the Portfolio of their investors in the past 6 months. The Stock also has been very fruitful for short-term investors, gaining 22.5% in the past 3 months. The Price has been volatile on the charts in August due to the quarterly results. The Stock Price hit a high of $34.49 at the beginning of August month. Thereafter, the Price declined. However, it got the Buyers back near the previous breakout zone and the Price recovered from a round level of $25. The daily chart shows that the Price has been inclining continuously after the rebound from the support zone. The Price has surpassed above the 50-EMA indicating the buyer’s domination in the Market at the moment.  The Analysts offering a 1-year Price forecast for Draftkings Inc. have a max estimate of $44 and a minimum estimate of $22.50. DraftKings Inc. Ltd. (NYSE: DKNG) is a digital gaming and sports entertainment company engaging in the provision of online sports betting. Online casino, digital marketplace, ETC.  Source: barchart.com DKNG  Stock option-chain analysis states that the current implied volatility in the Market is 45.54% with an increment of 0.37% in the last Trading session. The at-the-money strike Price has 811 open contracts on the put side and 2215 open contracts on the call side indicating the presence of sellers at the current level. The PUT/CALL ratio is 1.04 indicating a neutral sentiment in the Market as per the data. DKNG Stock Price Forming A Channel Pattern Over The Daily Chart Currently, DKNG Stock Price is Trading at $30.37 and inclining to surge above the previous swing high of $34.49.  Analysts say that the Price trend is Bullish in the short-term as well as long-term. However, the option chain data shows the dominance of sellers at the $30 level which indicates that the Price might need to consolidate and gain more Buyers to move further. Also, the daily chart shows a Bullish flag pattern, the breakout of which, Price may gain momentum to break above the recent swing high. The long-term outlook of the Price trend is positive. The Technical Indicators Showing Strength Over The Charts.  The daily DKNG Stock Price chart shows that the Price is Trading above the 50 and 200-day EMA which shows long-term bullishness in the Stock. The overall technical opinion rating including RSI and MACD is an 80% buy with an average short-term outlook on maintaining the current direction.  Conclusion DKNG Stock Price has been a great Investment, gaining 62.71% in 6 months and 22.5% in 3 months. It has been volatile in August due to quarterly results, but it has rebounded from the $25 support zone and is now above the 50-EMA. Analysts have a maximum estimate of $44 and a minimum estimate of $22.50 for the next year. DKNG is a digital gaming and sports entertainment company. It is Trading at $30.37 and aiming to break the $34.49 high. Analysts are Bullish in the short and long term, but option chain data shows sellers at $30. The daily chart shows a Bullish flag pattern that may lead to a breakout. The long-term outlook is positive. Technical Levels Support levels: $26.50 and $24.09. Resistance levels: $31.78 and $34.45.

[gadgetsforusesblog]

Analysts remain neutral on DraftKings despite "another clean beat and raise" by Investing.com

©Reuters. Analysts Remain Neutral on DraftKings Despite ‘Another Clean Beat and Raise’ DraftKings (NASDAQ: ) price target was raised at both Barclays and Deutsche Bank following the company’s latest earnings release, which saw it top consensus earnings and revenue estimates last week. DKNG shares finished Friday’s session up 15% post-results, though they are down more than 2% on Monday so…

[thesevillereport]

In Focus: DraftKings, Think Bigger, Think Long-Term

The easiest way for the average Joe or Jane to beat Wall Street is to invest long-term, that's it. No bells, no whistles, no complex algorithms, just find something good, buy it cheap, and HODL. The strategy is easier said than done because there are so many things happening in the short term that makes it tough to think five or ten years out.

Today with social media, investors, even those thinking long-term get bombarded with short-term wins from theWallStBets crowd or the StockTwits crowd and sometimes the Twitter and YouTube crowd. Seeing a post of someone that bought a few thousand dollars worth of AMC ($AMC) calls on Friday and woke up Monday to $100,000 makes it really hard to stay focused on long-term investing.

Meme stocks aside, the toys of Wall Street, the actual companies being invested in, are thinking long term, at least the good ones are. This is in spite of what Wall Street analysts are doing. Jeff Bezos, while CEO of Amazon ($AMZN)stated in the past, no one on his team should be thinking about next quarter. Bezos always maintained a long-term vision,and that vision has rewarded him and his investors greatly.

Last week, there was a news report that DraftKings ($DKNG) was in a bidding war with FanDuel for The Athletic. TheAthletic is like the Washington Post or NY Times for sports. Subscriptions for the sports publication topped one million last year, and it's been the subject of merger talks before. Earlier in the year, the rumor was that The Athletic would merge with Axios and then go public via a SPAC merger. The deal with Axios fell through leaving The Athletic up for grabs.

DraftKings' move to acquire The Athletic tells me it is building something big that will pay off in the long term. WhileWall Street is thinking about the number of bets DraftKings can  get in the next quarter, DraftKings is trying to build out a full fledged digital entertainment ecosystem.

Since I last discussed DraftKings it's down slightly. Since that time in late May 2021, DraftKings moved from around$44.00 per share to over $60 per share, but now it's back in the 40s.

The company's most recent quarterly earnings did not impress Wall Street, and caused a slight sell off on Friday.DraftKings hauled in $213 million of revenue in Q3 2021, a 60% year-over-year increase from revenue in Q3 2020, butthe figure missed analysts estimates by $24.9M. The company saw a rise in operation expenses and sales and marketing costs during the quarter which contributed to a $545 million net loss.

Losses aside, DraftKings was able to increase its average revenue per monthly unique payer to $47 during the quarter, up31% from the same period in 2020. The company adjusted its revenue forecast for 2021 from the range of $1.21 billion -$1.29 billion to $1.24 - $1.28 billion, which still fell short of the $1.29 billion annual revenue that analysts were expecting.

DraftKings also had some regulatory wins during the quarter with successful launches of online sports betting rolling out in Wyoming, Arizona and Connecticut.

A move that speaks to the company wanting to build a bigger enterprise, DraftKings took a $22 billion swing at acquiringBritish gambling house Entain. They missed, but still, the idea that DraftKings entertained this acquisition goes back to what I wrote earlier, this company is thinking long-term and attempting to build something big.

What's Holding Investors Back

There's a lot to fear when thinking about DraftKings. For one, when there were no sports to bet on during the early days of the coronavirus pandemic, bettors moved from DraftKings to Robinhood, and big wins by fellow novice traders have kept people attached to Robinhood. Also, DraftKings and FanDuel were the first through the door, so they took all the bullets, but now betting has become commonplace. ESPN and almost every other sports entertainment network now shows the betting lines regularly. My fear is that instead of partnering with DraftKings, more companies will take the full leap into betting and daily fantasy themselves.

Thinking Long Term, Finding the Bigger Picture

In 2014 Apple acquired headphone maker Beats By Dre. Prior to the acquisition, the Apple rumor of the time was that the company was going to develop a television. Not many analysts were fans of the Beats by Dre acquisition, some wondered why Apple needed a headphone company, others just preferred the TV ideal. What most people missed, is that acquisitions in 2014 was the start of Apple building out its Apple Services arm. The acquisition had very little to do with headphones,it was more about the streaming service that Beats had created. At that time, Apple was still selling songs and albums viaiTunes, and they realized it was a dying business. Also, and this is only my opinion, without the Beats by Dre acquisition,I don't think Apple creates the $12 billion business that is Apple AirPods.

DraftKings is in the early stages of building something big. It started with fantasy sports, and then added casino games and a sportsbook. While it's spending money like mad to acquire customers, it's also spending big to expand the platform.While there is a risk that other companies will enter DraftKings' space, I think sitting idly by waiting for someone to dosomething isn't a smart investment move.

If you want to beat the Street, think and invest long term, find a company with a long term vision and invest in it.

[ericvick]

Why State Gaming Numbers Bode Well For DraftKings Earnings

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DraftKings headquarters in Boston, Massachusetts.

Courtesy of DraftKings

DraftKings stock rose on Tuesday after an analyst at Loop Capital Markets suggested that monthly wagering data releases from a half-dozen states bode well for the online sports betting firm.

Analyst Daniel Adam analyzed states that DraftKings operates in that have thus far reported recent monthly gross gaming revenue and adjusted gross revenue data, which includes Illinois, Indiana, Iowa, Michigan, New Jersey, and Pennsylvania. He thinks the data suggest DraftKings’ second-quarter revenue is on pace to beat Wall Street’s consensus estimates. Adam estimates DraftKings’ average daily revenue quarter-to-date is down only 11% sequentially, far better than the 23% decline analysts are modeling for the quarter.

“In other words, based on the latest monthly GGR and AGR data releases, we expect another ‘beat and raise’ quarter from our top pick, Buy-rated DKNG,” Adam wrote.

DraftKings stock (ticker: DKNG) was up 2.4% to $50.16, while the S&P 500 index was up 0.5%. DraftKings shares have mostly recovered from a drop earlier this month when Hindenburg Research alleged its SBTech subsidiary sold products to organizations with operations in places where gambling is prohibited.

DraftKings said at the time that SBTech does not operate in illegal markets, noting it conducted a review of its business and was “comfortable with the findings.” Analysts mostly shrugged off the report from the short seller, arguing that the allegations weren’t particularly new.

Write to Connor Smith at connor.smith@barrons.com

[freenewstoday]

New Post has been published on https://freenews.today/2021/03/16/stocks-making-the-biggest-moves-in-the-premarket-astrazeneca-moderna-fintech-acquisition-more/

Stocks making the biggest moves in the premarket: AstraZeneca, Moderna, Fintech Acquisition & more

Take a look at some of the biggest movers in the premarket:

AstraZeneca (AZN) – AstraZeneca’s Covid-19 vaccine will be recommended for people aged 65 and older in Canada, according to a CBC report. That news comes after several European countries suspended use of the vaccine, amid reports of side effects. Both the World Health Organization and AstraZeneca say the vaccine is safe. AstraZeneca gained 2.3% in premarket trading.

Moderna (MRNA) – The drugmaker began a study of its Covid-19 vaccine involving children aged 6 months to 11 years. Moderna’s vaccine – along with Johnson & Johnson’s (JNJ) – is currently authorized for adults 18 and older, while the vaccine from Pfizer (PFE) and BioNTech (BNTX) is allowed for people 16 and older. Moderna shares rose 1.8% premarket.

Starbucks (SBUX) – The coffee chain’s stock rose 1.6% in the premarket after BTIG upgraded it to “buy” from “neutral.” BTIG said a recovery by Starbucks is gaining steam and that stimulus checks could provide an additional boost.

Designer Brands (DBI) – The footwear and accessories retailer formerly known as DSW reported a quarterly loss of 53 cents per share, smaller than the 68 cents a share loss that analysts were anticipating. Revenue was below consensus, although comparable-store sales fell slightly less than expected. The company said the sequential improvement in performance continued during the quarter.

Fintech Acquisition (FTCV) – The special purpose acquisition company will combine with trading platform eToro and take the Robinhood rival public. The combination will have an estimated value of $10.4 billion. Shares of Fintech Acquisition surged 14.7% in premarket trading.

DraftKings (DKNG) – Shares of the sports betting company rose 1.2% in premarket action after it priced an upsized debt offering of $1.1 billion in convertible senior notes. DraftKings had originally planned a $1 billion offering.

Walgreens (WBA) – Walgreens was sued by the Arkansas attorney general, who accused the drugstore and pharmacy operator of helping fuel the opioid crisis in the state. Walgreens said health and safety have always been the primary focus of its pharmacists and that it would defend itself vigorously against the suit.

Nikola (NKLA) – Nikola fell 2.9% in premarket trading after it filed to raise $100 million through a secondary stock offering. The electric vehicle maker said it intends to use the proceeds for general corporate purposes.

AbbVie (ABBV) – The drugmaker is in talks to sell a portfolio of women’s drugs worth approximately $5 billion, according to sources familiar with the matter who spoke to Reuters. The treatments were acquired last year through AbbVie’s $63 billion purchase of Allergan.

News Corp (NWSA) – News Corp signed a content supply deal with Facebook (FB) in Australia, resolving a dispute that had seen Facebook withhold all media content in Australia for a week in February. News Corp shares jumped 1.9% in the premarket.

Alibaba (BABA) – The e-commerce giant is being pressured by the Chinese government to dispose of its media assets, according to people familiar with the matter who spoke to The Wall Street Journal. The government is said to be concerned with Alibaba’s sway over public opinion. Shares fell 1% in premarket trading.

Ulta Beauty (ULTA) – The cosmetics retailer’s stock fell 1% premarket after Guggenheim downgraded it to “neutral” from “buy.” Guggenheim cites profit margin uncertainty amid rising competitive pressure on digital platforms.

Avis Budget (CAR) – The car rental company’s stock was downgraded to “equal-weight” from “overweight” at Morgan Stanley. The firm notes a more than 90% increase in the stock year-to-date, which it said prices in the improvements in Avis Budget’s earnings performance. Shares were down 1.2% in premarket trading.

Source

[thoonline]

DraftKings Feels the Love as Analysts Boost Price Targets

DraftKings Feels the Love as Analysts Boost Price Targets

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By Christiana Sciaudone

Investing.com —   DraftKings (NASDAQ:) rose 5% after getting a Street-high price target amid a battery of price target increases.

The company reported earnings last week with sales slightly beating expectations while a loss came in greater than estimated. 

Nonetheless, it was well received by the Street. 

“DKNG’s strong report and raised guidance reinforces our…

[thesevillereport]

In Focus: DraftKings

Every once in a while the stock market hands regular investors a gift, and this gift is a result of the big firms on Wall Street moving money frantically out of one position into another in order to make their quarterly numbers.

In 2018 we took advantage of this gift by investing in Apple (AAPL). The stock sold off in the last quarter of 2018 dropping 35% from its October 2018 high. After bottoming out in January 2019, Apple went on to increase by over 200%.

In the summer of 2019 we got another gift with a sell off in Tesla (TSLA), which caused the stock price to drop by over 50%. Since hitting that June 2019 bottom, Tesla's stock has gone on to gain over 1,500%.

Today Wall Street is providing regular investors with another gift, and this time it's with DraftKings (DKNG). After trading to an all-time high of $71.52 in March 2021, the stock has lost more than 35% of its value as of this writing. The most surprising thing about the pull back is that things have never been better for the company.

For the quarter ending March 2021, DraftKings reported $312 million in revenue, which marked a 252% year-over-year increase. DraftKing's Q1 revenue even surpassed Wall Street estimates by $75 million.

The company's ability to attract new users is fueling its revenue growth. DraftKings' Monthly Unique Payers (MUP) for its B2C segment increased 114% year-over-year; and Average Revenue per MUP came in at $61 during the quarter, which represents a 48% increase year-over-year.

Betting, and specifically sports betting, has always been a hot topic in the U.S. but it appears the country is changing its conservative stance on the issue, resulting in markets continuing to open up for DraftKings.

In 2018 when the U.S. Supreme Court lifted the federal ban on sports betting, only 11 states had legalized betting on sports after the ban was lifted. By the summer of 2020 that number grew to19 states that had legalized sports betting, with 4 other states passing bills related to sports betting, and active bills in 9 other states. The momentum appears to be on DraftKings' side, but not everyone thinks so, kind of.

Morgan Stanley analyst Thomas Allen downgraded DraftKings, and points to DraftKings' widening EBITDA losses, and its need to issue more stock to stay operational, which will dilute the position of current shareholders. Another downgrade came from Needham analyst Bernie McTernan, who also pointed to the widening EBITDA losses. McTernan's belief that investors are currently favoring value stocks over growth stocks also played a part in his downgrade.

There is a concern that DraftKing is spending too much on customer acquisition, which will prevent it from turning a profit for at least another couple of years. DraftKings reported a $346 million loss in Q1 2021.

There's also the competition from the likes of Penn National Gaming (PENN) Penn National's deal with Barstool Sports gives Penn something that DraftKing lacks and that is an active face for the brand. Barstool Sports founder David Portnoy can be found everywhere promoting himself and his brand, and in a society that loves making regular men and women into deities, Portnoy's presence is big. 

The silver lining for investors considering DraftKings is that the downgrades by the two major Wall Street firms are still higher than the current share price. Allen from Morgan Stanley has a $66 target on the stock, while McTernan of Needham has a $73 price target. In addition to those two estimates, rock star investor Cathie Wood added more than half-a-million shares of DraftKings to her ARK Next Generation Internet ETF (ARKW).

The last time I wrote about DraftKings was last summer. In the post I explained that we would see more states embrace sports gambling and recreational marijuana in an effort to refill their coffers that were ravaged by the coronavirus. Shortly after the article DraftKings' stock went on a run from ~$36 per share to ~$63 per share in a little over a month. I fancy myself a long-term investor, but I'll take 75% on my money in a month if I can get it. 

The future seems far too bright for DraftKings for its stock to be lingering below its 200 day moving average like it is. A part of me wonders if DraftKings' stock is a part of a Wall Street operation. If you don't know what that is, it's when big Wall Street firms tell the public how bad a company is, causing investors to sell their stock which then allows the big firms to swoop in and buy the stock at a cheaper price. Again, there's a lot going on for DraftKings, and even though it's not profitable I've seen Wall Street firms bid up stocks with less prospects than DraftKings.

In any case at the current price DraftKings is a gift. The NBA and NHL are currently in their playoff seasons, and earlier in the year DraftKings became one of the NFL's official sportsbook partners. In a few years DraftKings will be a money printing machine, and investors can get in now while the company works towards that. Accept the gift that is DraftKings.

[ericvick]

Penn Stock Up As Earnings Miss But CEO Bullish On Barstool Profit, Expansion

Penn National Gaming (PENN) reported weaker-than-expected fourth-quarter earnings on Thursday but management was upbeat about its Barstool Sports partnership. Penn stock rose to a new high Thursday.

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The report comes ahead of what’s expected to be the biggest sports betting event ever: Super Bowl LV this weekend, when gamblers will wager an estimated $500 million.

Penn National Gaming Earnings

Estimates: Zacks consensus estimates pegged Penn National Gaming earnings at 24 cents a share, swinging from an 80-cent loss a year ago. Revenue was seen falling 19% to $1.09 billion.

Results: Penn earnings came in at 7 cents a share. Revenue sank 23% to $1.03 billion, as the pandemic has forced brick-and-mortar casinos to shut down or open with limited capacity.

But Penn has made a big push into online gaming and closed a $163 million deal for a 36% stake of sports betting app Barstool on Jan. 26. Penn launched the Barstool Sportsbook app in Michigan last month sees it being live in at least 10 states by the end of 2021.

“The value of Barstool Sports as a media company is an overlooked part of our story,” said CEO Jay Snowden in a statement, noting it has over 26 million followers on TikTok, nearly 27 million on Twitter (TWTR), and more than 52 million on Instagram.

He added that he expects “Barstool to continue to grow profitably over the upcoming years through a diversified mix of advertising, brand licensing, and merchandise sales.”

On a call with analysts later, Snowden was also bullish about expanding in Illinois soon. “Right behind Boston, there is no other place Barstool is bigger in than in Chicago. We have three casinos in the state. We want to be live before March Madness. We are working with regulators. We are cautiously confident that we can make it happen.”

IBD Live: A New Tool For Daily Stock Market Analysis

Penn Stock

Shares rose 4% to a new record high of 113.26 on the stock market today. Penn stock is extended beyond buy range after clearing a buy point of 76.72 on Dec. 14, MarketSmith chart analysis shows. Shares hit a record 113.17 on Tuesday before reversing slightly lower.

The relative strength line, which measures Penn stock’s performance vs. the S&P, is trending upwards. The EPS Rating is just 39, as Penn posted its first profitable quarter in Q3, after a string of losses in the three previous quarters.

Among other gambling stocks, DraftKings (DKNG) rose 3%, extending its recent breakout. DraftKings and the NFL expanded their fantasy football partnership to Canada.

MGM Resorts (MGM) rallied 2%, Wynn Resorts (WYNN) fell 1.4% and Las Vegas Sands (LVS) lost 1.6%.

Profit Outlook

Analysts are optimistic Penn can maintain profitability. Rosenblatt Securities analyst Bernie McTernan, who has a buy rating on Penn stock and a price target of 115, says continued vaccine rollout will help regional casinos recover. He said in a recent note to clients: “Market share in new state launches (MI and VA) as the Barstool sportsbook app will be at the same starting line as competitors.”

McTernan says the expansion of legal sports betting also will be a catalyst. There are now 20 states and the District of Columbia that allow online sports wagering. With New York on the verge of legalizing online sports betting, McTernan says Ohio, Massachusetts, Connecticut and Canada are possible in the coming months.

Jefferies analysts recently raised their price target for Penn to 91 from 74, while Stifel analysts bumped up their outlook to 118 from 100.

Follow Adelia Cellini Linecker on Twitter @IBD_Adelia.

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