DraftKings (DKNG) Stock : Is It A Buy Right Now

September 30, 2022

By : Quick Insurance Guru

Floral Separator

As sports betting legalization spreads across U.S. states, DraftKings (DKNG) is at the forefront of the online betting industry.

Credit : Unsplash

Floral Separator

DraftKings shares fell in early morning trade after the company announced its fourth quarter results.

Credit : Unsplash

Floral Separator

The company lost 80 cents a share and adjusted for the loss of 35 cents on $473 million in revenue.

Credit : Unsplash

Floral Separator

IBD estimates that the company would lose 82 cents a share on revenue of $448.4 million.

Credit : Unsplash

Floral Separator

DKNG's stock reversed from early losses to rally more than 4%, trading at around 18 per share. Shares hit a 52-week low on Feb. 22, falling as low as 16.57.

Credit : Unsplash

Floral Separator

DraftKings is primed to take advantage of the shift in state attitudes toward sports betting, according to the Wall Street Journal.

Credit : Unsplash

Floral Separator

DraftKings aims to be profitable. After losing $3.95 a share in 2020, Deutsche Bank expects to lose $3.61 per share in 2021 and $2.46 per share in 2022, according to IBD data.

Credit : Unsplash

Floral Separator

The company lost $1.35 per share, or 16.6 percent, on revenue of $212.8 million.

Credit : Unsplash

Floral Separator

The midpoint of revenue guidance for fiscal 2021 was boosted to $1.26 billion, versus the previous midpoint of $1.25 billion.

Credit : Unsplash

Floral Separator

Analysts have projected sales of $1.29 billion. In fiscal 2022, the company expects sales between $1.7 billion and $1.9 billion.

Credit : Unsplash

Floral Separator

THANKS FOR READING!

Upstart Stock – Is Down Over 80% This Year

Floral Separator