Digital sports entertainment and gaming services provider DraftKings (NASDAQ:DKNG) plans to launch its online sportsbook in Vermont tomorrow. The move will expand DKNG’s presence to a total of 26 U.S. states. The company also operates its sportsbook in Ontario.
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Matt Kalish, the President of DraftKings North America, exclaimed, “This is an exciting time of year with the NFL Playoffs about to kick off, and Vermonters will now have the opportunity to engage with their favorite sports on our industry-leading DraftKings Sportsbook app.”
Last month, DKNG CEO Jason Robbins noted at the Annual Craig-Hallum Online Gaming Conference that, with 100% legalization, “There is over $6 billion in EBITDA” with the same market share. This implies that DKNG’s growth trajectory could continue with even incremental market share gains.
For now, the company’s trailing twelve-month EBITDA loss stands at $654.6 million. After a steady stream of losses, analysts expect DKNG to post an EPS of $0.12 for the fourth quarter on February 15.
What is the Target Price for DKNG Stock?
Shares of the company have surged by nearly 184% over the past year. Overall, the Street has a Strong Buy consensus rating on DraftKings, and the average DKNG price target of $42.16 points to a further 23.1% potential upside in the stock.
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