The sports betting industry is now getting legalized in the United States and DraftKings is a popular name in that field now. These platforms are becoming and gaining widespread fame lately. On DraftKings, the users can play fantasy games daily and win cash prizes as well. The company has had good growth over this period and now the analysts expect better from the firm in the upcoming times.
DraftKings Inc. (NASDAQ: DKNG)
- 52 Week Range: $10.60 – $70.38
- Average Volume: 15,900,168
- Market Capital: $27.274B
- Forward Dividend and Yield: N/A (N/A)
DraftKings Stock: Better Growth in Terms of Revenue and Earnings
As of the third-quarter earnings report of DraftKings, the company has risen by over 98% on a year-over-year basis with earnings of $132.8 million. The earnings have made the company an attractive choice for the investors. The stock is also inexpensive and hence, the investors can easily afford it. The company is at present in its growth stage and has shown fine progress recently. This progress makes it a potential choice for investing.
The fourth-quarter earnings of the company have surged the stock even more. They have come out to be much better than as they were estimated by the analysts. The revenue of the company in this quarter is $322 million and it has increased by as much as 146%. All this has worked well in favor of the company and it now stands quite strong in the competitive sector of the stock market. The company expects that it will continue to grow further in this manner and the outcomes will also be lucrative. The stock is also available at an affordable price currently and that makes it even more attractive for the investors looking out for lowly priced but profitable stocks in the stock market.
DraftKings’ Deal with DISH Network
DraftKings has just announced a deal with DISH Network whereby there would be the availability of DraftKings App on the Hopper Platform of DISH TV. This deal will also help in boosting the company’s growth and might help to accelerate it.
How good is DraftKings for an Investment Right Now?
The investors may go for investment in DraftKings right now. The preferable choice in the case of an investment would be a long-term investment because the company has a lot more to grow and prosper yet. A long-term investment would be more profit-bearing and rewarding. Presently, the stock is affordable and profitable. This is the best combo for the shareholders looking for stocks that are within their means and would also not turn their investment into a loss.
The recent announcement of the deal with DISH Network is also a good step taken by the company. Overall, the firm is on the right track and hence makes a good investment for the investors at a reasonable rate.