CDRO stock forecast, quote, news & analysis
Codere Online Luxembourg SA is an international online casino gaming and online sports betting group focused on providing its customers with a safe and enjoyable online gaming experience... Show more
Codere Online (CDRO) Stock Analysis: Online Casino and Sports Betting Expansion Across Spain and Latin America
Key Takeaways
- CDRO has drifted roughly 7% lower over the past 30 days, trading around $9.14, with no single catalyst driving a sharp directional move.
- Codere Online posted record second-quarter 2026 net gaming revenue of EUR 69.4 million, up 27% year over year, and raised its full-year guidance.
- Spain and Mexico generate the vast majority of revenue and remain the company's central growth engines.
- A debt-free balance sheet with roughly EUR 63 million in cash provides meaningful strategic flexibility.
- Analysts covering the stock hold a consensus Outperform rating with an average target price near $12.
- Regulatory and tax changes in Spain and Colombia are among the key risks investors are monitoring.
- For more detail on valuation, earnings history, and forward-looking estimates, explore Codere Online's Price Targets, Earnings, and Forecast pages.
- Traders can also browse Trending AI Robots to see how AI-driven strategies are approaching opportunities across the market.
Current Market Snapshot
Codere Online Luxembourg, S.A. has traded in a relatively contained range over the past month, holding between roughly $8.99 and $9.81 before settling near $9.14. The modest pullback follows a period in which the stock climbed from the mid-$8 level in early September toward a brief print above $10 in late September, then consolidated as broader sentiment toward small-cap and international gaming names remained measured.
Volume in the name is comparatively light, reflecting limited liquidity relative to larger U.S.-listed online gaming peers. Despite steady fundamental progress, the stock's day-to-day moves have been modest, suggesting investors are weighing improving operating results against ongoing regulatory and tax uncertainty in several of the company's core markets.
Codere Online (CDRO) Business Overview and Competitive Position
Codere Online is a Luxembourg-headquartered online gaming operator that provides sports betting and online casino products through its website and mobile applications. The company is part of the broader Codere group, a long-established name in the land-based gaming industry, and operates in Spain, Mexico, Colombia, Panama, and the city of Buenos Aires in Argentina.
The business model is built on two complementary product lines: online casino, which has recently represented roughly 62% of net gaming revenue, and sports betting, which accounts for the remaining share. Codere Online holds brand partnerships that reinforce its visibility in key markets, including serving as an official betting partner of Real Madrid in Latin America, River Plate in Argentina, and Monterrey Rayados in Mexico.
Spain and Mexico dominate the revenue mix, together contributing more than 90% of trailing net gaming revenue, with Mexico ranking as the largest single market. The company's competitive strengths include its established brand, diversified customer acquisition channels, and an improving track record of converting revenue growth into profitability.
Recent Developments Driving CDRO
The most significant recent catalyst was Codere Online's second-quarter 2026 earnings release, in which the company reported its highest quarterly revenue to date. Net gaming revenue reached EUR 69.4 million, up 27% year over year, while adjusted EBITDA rose to EUR 5.8 million from EUR 2.3 million in the prior-year period. Management raised full-year 2026 guidance to net gaming revenue of EUR 255 million to EUR 265 million and adjusted EBITDA of EUR 20 million to EUR 25 million.
Growth was led by Spain and Mexico, which posted year-over-year net gaming revenue increases of roughly 25% and 24%, respectively. The 2026 FIFA World Cup provided an additional boost, with stakes reaching approximately EUR 63 million, about 180% above the 2022 tournament, and nearly 40,000 new customers acquired. Colombia also benefited from the removal of a 19% value-added tax on customer deposits, supporting a recovery in player activity.
On the balance sheet, the company ended the quarter with approximately EUR 63 million in cash and no financial debt. At the same time, management has flagged intensifying competition in Mexico, upcoming Spanish restrictions on VIP players and deposit limits, and lingering tax uncertainty in Colombia as factors that could temper near-term momentum.
Trending AI Robots
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2026 Outlook and What Investors Should Watch
Codere Online enters the remainder of 2026 with raised guidance and strong momentum in its two largest markets. Investors will likely focus on whether the customer base acquired during the World Cup can be retained and converted into recurring, higher-value activity, a key test of the company's recent acquisition strategy.
Regulatory developments remain a central watch item. In Spain, proposed restrictions on VIP players and joint deposit limits could weigh on growth in the company's most profitable market. In Colombia, the persistence of an additional layer of taxation has kept management cautious about resuming full marketing investment. In Mexico, an increasingly competitive landscape and a strong peso could pressure both customer economics and euro-denominated costs.
Other factors to monitor include continued marketing efficiency gains, the pace of adjusted EBITDA margin expansion, and management's use of its debt-free cash position for share repurchases or potential expansion into newly regulated Latin American markets. These elements will help shape how the stock is valued against its broader online gaming peer group.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
CDRO in downward trend: price dove below 50-day moving average on October 28, 2026
CDRO moved below its 50-day moving average on October 28, 2026 date and that indicates a change from an upward trend to a downward trend. In 53 of 61 similar past instances, the stock price decreased further within the following month. The odds of a continued downward trend are 87%.
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on October 28, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on CDRO as a result. In 90 of 104 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 87%.
The 10-day moving average for CDRO crossed bearishly below the 50-day moving average on October 29, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 14 of 18 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 78%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where CDRO declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 81%.
The Aroon Indicator for CDRO entered a downward trend on November 02, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 50 of 59 cases where CDRO's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 85%.
Following a +5.05% 3-day Advance, the price is estimated to grow further. Considering data from situations where CDRO advanced for three days, in 185 of 239 cases, the price rose further within the following month. The odds of a continued upward trend are 77%.
CDRO may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Fundamental Analysis (Ratings)
The Tickeron Price Growth Rating for this company is 55 (best 1 - 100 worst), indicating steady price growth. CDRO’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of 69 (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (5.670) is normal, around the industry mean (3.369). P/E Ratio (-0.833) is within average values for comparable stocks, (1.457). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (0.476). Dividend Yield (0.000) settles around the average of (0.012) among similar stocks. P/S Ratio (1.820) is also within normal values, averaging (1.692).
The Tickeron PE Growth Rating for this company is 98 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is 100 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. CDRO’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 98, placing this stock worse than average.
Industry description
Market Cap
High and low price notable news
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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General Information
Industry CasinosGaming