Skip to main content

7 Sports Betting Stocks That Will Shine Beyond March Madness in 2021 - 1 of 7

 
#1 - DraftKings (NASDAQ:DKNG)

DraftKings logo

DraftKings (NASDAQ:DKNG) is a logical choice to head this list. The company cites over 4 million users on its daily fantasy sports platform. And a big reason for that is because DraftKings is the official daily fantasy partner of the National Football League (NFL).

Those four million users will go a long way to helping DraftKings meet its forecast to claim over 10% of the total addressable market for online sports betting and iGaming.

Analysts are increasing their price targets for DraftKings. And the stock also has the interest of Cathie Wood, the CEO and Chief Investment Officer of ARK Investment Management who purchased over $433 million of DKNG stock.

 DKNG stock is up over 50% in 2021. This is despite the stock having a sharp selloff on March 16 when the company announced a $1 billion issue of convertible notes. Investors were first concerned about the dilutive effect that such things can produce. But it seems as investors have digested the information, they realize that the company may be raising cash in advance of an acquisition of some sort.

About DraftKings
DraftKings Inc operates as a digital sports entertainment and gaming company in the United States. It operates through two segments, Business-to-Consumer and Business-to-Business. The company provides users with daily sports, sports betting, and iGaming opportunities. It is also involved in the design, development, and licensing of sports betting and casino gaming platform software for online and retail sportsbook, and casino gaming products. Read More 

Current Price: $42.11
Consensus Rating: Buy
Ratings Breakdown: 22 Buy Ratings, 6 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $68.09 (61.7% Upside)





MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.