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DraftKings: A Long-Term Bet On Online Gambling Growth (NASDAQ:DKNG)

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DraftKings: A Long-Term Bet On Online Gambling Growth (NASDAQ:DKNG)

Hirurg

DraftKings Inc. (NASDAQ:DKNG) has been trending upwards since late 2022 as its stock is up 90% over the past year and 15% on a YTD basis. With that in mind, I believe DraftKings has more upside to realize in the coming

Year

Jackpocket Revenue

2023

$78,000,000

2024

$135,000,000

2026

$264,000,000

2028

$330,000,000

2029

$412,000,000

2030

$515,000,000

CAGR

25%

Price Target

Forecasted 2030 Revenue

$15,715,000,000

Forecasted 2030 Adj. EBITDA Margin

35%

Forecasted 2030 Adj. EBITDA

$5,500,250,000

Target EV/EBITDA

9.16

Implied Enterprise Value

$50,382,290,000

Debt

$1,346,100,000

Cash

$858,003,000

Net Debt

$488,097,000

Equity Value

$49,894,193,000

OS

484,273,677

Price Target

$103.03

Share Price

$40.68

Upside

153%

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