DraftKings (DKNG)

Re: DraftKings (DKNG)

Postby winston » Fri Nov 13, 2020 9:56 pm

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Deutsche Bank Stick to Their Hold Rating for DraftKings

Deutsche Bank (DE:DBKGn) analyst Carlo Santarelli maintained a Hold rating on DraftKings (NASDAQ:DKNG) on Friday, setting a price target of $48, which is approximately 16.36% above the present share price of $41.25.

Santarelli expects DraftKings to post earnings per share (EPS) of -$0.55 for the fourth quarter of 2020.

The current consensus among 19 TipRanks analysts is for a Moderate Buy rating of shares in DraftKings, with an average price target of $58.06.

The analysts price targets range from a high of $76 to a low of $37.

Source: investing.com

https://www.investing.com/news/deutsche ... gs-2347678
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Re: DraftKings (DKNG)

Postby winston » Fri Nov 13, 2020 9:57 pm

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DraftKings (NASDAQ:DKNG) stock rose 10% after the sports bettor reported better than expected third-quarter results, with monthly unique payers surpassing one million.

Source: investing.com
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Re: DraftKings (DKNG)

Postby winston » Fri Nov 13, 2020 9:59 pm

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DraftKings (DKNG) – The mobile betting service reported a quarterly loss of 57 cents per share, smaller than the 61-cent loss that Wall Street had anticipated, while revenue was above analyst forecasts.

DraftKings said it was helped by the resumption of activity by major sports leagues during the third quarter, as well as the start of the NFL season.

It increased its current quarter guidance and is projecting 45% year-over-year revenue growth for 2021.

The shares jumped 8% in premarket trading as of 7:35 a.m. ET.

Source: CNBC
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Re: DraftKings (DKNG)

Postby winston » Sat Nov 14, 2020 1:53 pm

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How to Trade DraftKings After Bullish Earnings Reaction

DraftKings is rallying but fading from its post-earnings high. Here's how to trade the stock after the report.

by BRET KENWELL

Revenue of $133 million grew 98.5% year over year and beat estimates by more than $1.3 million.

Guidance was even better, though. With just one quarter left to go in 2020, management expects full-year revenue between $540 million and $560 million. That’s above the prior range of $500 million to $540 million and ahead of consensus expectations at $525.5 million.

For 2021, management is looking for revenue of $750 million to $850 million. At the midpoint - $800 million - that’s ahead of analysts’ expectation for $770.5 million.

On the upside, we need to see DraftKings stock close above $45 and the 50-day moving average currently near $46.50. That's step one. Above the latter puts the $52 secondary price in play, followed by a gap-fill near $55.

On the downside, a break of the 100-day moving average puts this week’s low in play at $38.44. A close below that level puts the October and November low in play near $35. Below that and the 200-day moving average is on the table.

Source: the Street

https://www.thestreet.com/investing/dra ... s+Reaction
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Re: DraftKings (DKNG)

Postby behappyalways » Sun Nov 15, 2020 10:59 am

Growth of Sports Betting Only in First Inning: DraftKings CEO
https://m.youtube.com/watch?v=gMCS3tfy-Mo
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Re: DraftKings (DKNG)

Postby winston » Tue Nov 17, 2020 3:41 pm

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Analyst Says DraftKings Trades At 'Big Premium' To Other Growth Stocks

by Wayne Duggan

The DraftKings Analyst: Bank of America analyst Shaun Kelley reiterated his Neutral rating and $55 price target for DraftKings.

The DraftKings Thesis: Kelley said DraftKing’s third-quarter numbers indicate the company is successfully leveraging a strong fall sports calendar. He said player acquisition and monetization trends were particularly encouraging.

Looking ahead, state launches in Michigan, Virginia and other places will heal drive upside to numbers in late 2020 and early 2021.

In addition, Kelley said additional sports gambling legalizations in Ontario, Canada and elsewhere could serve as bullish catalysts for DraftKings.

For now, Kelley is a strong believer in the DraftKings revenue growth story and said selling pressure associated with lockups should dissipate in the next couple of months.

Kelley increased his 2021 revenue estimate from $825 million to $838.5 million, but he's still projecting EPS losses of more than $1 annually through at least 2022.

Despite the strong quarter and positive momentum, Kelley said investors should be cautious when it comes to buying DraftKings stock after its 292% year-to-date gain.

“Even with our model updates, DKNG still trades at a big premium (~50% on 2025 EV/Revenue) to high-growth, concept stocks,” he wrote in a note.

Benzinga’s Take: The million dollar question for all growth stock investors is just how many years of future growth have already been priced into the stock at its current valuation.

After its huge 2020 rally, DraftKings trades at 97.8 times sales, a steep premium to other long-term growth stocks such as Uber Technologies Inc (NYSE: UBER) at 6.3 times sales and Amazon.com, Inc. (NASDAQ: AMZN) at 4.4 times sales.

Source: Benzinga

https://finance.yahoo.com/news/analyst- ... 07742.html
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Re: DraftKings (DKNG)

Postby winston » Wed Nov 18, 2020 8:01 am

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DraftKings Jumps on Street-High Price Target Initiation at Loop

Analyst Daniel Adams called DraftKings the 'undisputed share leader' and gave it a $100 price
target.

by TONY OWUSU

We estimate the true total addressable market for these markets is over $30 billion in the U.S. at maturity, significantly greater than the ~$20 billion total addressable market that other analysts are modeling”.


Source: The Street

https://www.thestreet.com/investing/dra ... on+at+Loop
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Re: DraftKings (DKNG)

Postby winston » Thu Nov 19, 2020 10:46 am

A Top Stock to Buy Now

DraftKings also has fantasy baseball, basketball, soccer, golf, hockey, and just about every other sport you can imagine… Even e-sports.

DraftKings already operates its daily fantasy sports website and app online in 43 of 50 states.

Investors should also be aware of another big DraftKings competitor called FanDuel. But since FanDuel isn’t publicly traded yet, DraftKings is the still best way for you to invest in the daily fantasy sports market today.


Source: Money Morning

https://dailytradealert.com/2020/11/18/ ... o-buy-now/
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Re: DraftKings (DKNG)

Postby winston » Fri Nov 20, 2020 9:44 pm

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DraftKings CFO Revisits Financial Models as Virus Upends Sports Calendar

The sports-betting company revamps its revenue forecasts to roll with changes in customer behavior during the pandemic

A critical piece of the puzzle was figuring out customers’ favorite sports by looking at, for instance, how many people previously bet on golf and football.

DraftKings also introduced new sports-crossover bets to entertain customers.

Its number of unique monthly users jumped 64% during the quarter ended Sept. 30 to about 1 million.

Overlapping sports events likely prompted customers to spend more time and money on the site.


Source: WSJ

https://www.wsj.com/articles/draftkings ... business_f
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Re: DraftKings (DKNG)

Postby winston » Thu Nov 26, 2020 8:23 am

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DraftKings: Can't Stop The Momentum Now

by Gary Alexander


Summary

Shares of DraftKings have rallied after the company announced a very upbeat third quarter.

Benefiting from a resumption of a fuller sports calendar, DraftKings drove both strong revenue and user growth in Q3.

Pent-up demand continues to be one of the driving forces for DraftKings, and recent state legalizations continue to show quick ramp-ups in new markets.

DraftKings also guided well above consensus expectations for next year.

Source: Seeking Alpha

https://seekingalpha.com/article/439111 ... ent=link-7
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