#6 - DraftKings (NASDAQ:DKNG)
A perhaps not so surprising phenomenon of the pandemic was that millions of Americans wanted to gamble with their stimulus money. And the reopening of sports has created a strong environment for the growth in stocks lIke DraftKings (NASDAQ:DKNG).
DraftKings was one of the many companies that went public through a special purpose acquisition company (SPAC). The company debuted in April and the stock is up nearly 350%.
But the question for many investors is what will the stock do in the future? If analysts are to be believed then now would be a good time to jump on DKNG stock. The company is covered by 25 analysts who give the stock an upside of nearly 20%.
Late in 2020, DraftKings announced a partnership with ESPN that makes the company an exclusive provider of daily “fantasy sports” operations. It’s also a “co-exclusive partner for gambling link-outs” at ESPN. This will keep DraftKings top of mind for many current, and potentially future, gamblers.
About DraftKings
DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators.
Read More - Current Price
- $43.09
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 24 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $50.85 (18.0% Upside)
