DraftKings is firing on all cylinders and the stock is still reasonably priced

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Although the US may have avoided a much-anticipated recession, this doesn't mean all is well. Signs of slowing demand for software solutions are evident, as shown by the disappointing quarterly results of cybersecurity specialist Palo Alto Networks ($PANW), which lowered its full-year outlook yesterday, causing its stock to plunge.

Few companies have shown almost complete resilience to the economic fluctuations of the past few years. One of them is online sports betting operator DraftKings ($DKNG), which reported robust Q4 results last week and raised its revenue and adjusted EBITDA outlook again. Its fundamental performance has been so strong that the stock has more than tripled since January 2023.

Despite the recent surge, DKNG can continue its upward trend, supported by the company's solid underlying trends. The stock remains reasonably valued with significant upside potential. Let's see why.

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