Free Trial
NASDAQ:DKNG

DraftKings (DKNG) Stock Price, News & Analysis

DraftKings logo
$35.32
-1.55 (-4.20%)
(As of 10/31/2024 ET)

About DraftKings Stock (NASDAQ:DKNG)

Key Stats

Today's Range
$35.30
$36.75
50-Day Range
$33.65
$41.10
52-Week Range
$26.42
$49.57
Volume
7.21 million shs
Average Volume
10.24 million shs
Market Capitalization
$31.03 billion
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$50.22
Consensus Rating
Moderate Buy

Company Overview

DraftKings Inc. is a digital sports entertainment and gaming company serving industry and gamers alike. The company offers multi-channel sports betting and gaming technologies that are used by sports and gaming entertainment operators in 17 countries. In the U.S., the company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states.

DraftKings is headquartered in Boston, Massachusetts, and is the only vertically integrated online gambling platform headquartered in the US and targeting US gamers. The company was founded in 2011 by three close friends and went public in 2020 with a listing on the NASDAQ stock exchange. The initial offering is noteworthy because the company went public via merger with a SPAC formerly known as Diamond Eagle Acquisition Company.

Draftkings is run by Jason Robins, Matt Kalish, and Paul Liberman. The three started as friends but turned into cofounders, entrepreneurs, and corporate executives. Robins is CEO and in charge of corporate operations while Kalish and Liberman are president of DraftKings North America and Global Technology and Product respectively. Together, they manage a team of 10 executives and a network of 14 locations including 8 outside the US.

The company began as a dream to improve fantasy sports leagues. The goal was to change the way fantasy sports were played and open the door to a host of new gaming opportunities. The product was first launched in 2012 and now the company’s daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories.

Draftkings sets itself apart from the average fantasy sports provider by not only offering the widest selection of sports but the most control for the players. Players can re-draft new line-ups at will for most sports and there are daily contests within each league. The idea is for players to have a chance to win on a seasonal, quarterly, monthly, weekly, and daily basis.

DraftKings Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in 18 states. The Sportsbook connects sports fans with legal sports betting operations in states with legalized gambling.

DraftKings expanded its offering with the launch of DraftKings Casino. DraftKings Casino is home to all the favorite table and slot-machine games but in a digital format. The Casino games are available on desktop and mobile like all of DraftKings offerings making them easily accessible to players.

In addition to gaming and sports betting, DraftKings is banking on the cryptocurrency revolution with DraftKings Marketplace. DraftKings Marketplace is a digital collectibles ecosystem designed for easy use that offers curated NFT drops and secondary-market transactions.

DraftKings SPAC merger included the addition of SBTech, a sports betting technology platform. DraftKings sports betting and casino technologies are available as a white-lable for businesses through this platform. SBTech offers an end-to-end solution including the gaming platforms and back-office services.

DraftKings also owns Vegas Sports Information Network (VSiN), a multi-platform broadcast and content company. Vegas Sports Information company can be accessed online or screened on live TV featuring world-renown sports commentators, players, and coaches.

DraftKings Stock Analysis - MarketRank™

See Top Rated MarketRank™ Stocks
84th Percentile Overall Score

DKNG MarketRank™: 

DraftKings scored higher than 84% of companies evaluated by MarketBeat, and ranked 64th out of 289 stocks in the consumer discretionary sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

  • Consensus Rating

    DraftKings has received a consensus rating of Moderate Buy. The company's average rating score is 2.89, and is based on 24 buy ratings, 3 hold ratings, and no sell ratings.

  • Amount of Analyst Coverage

    DraftKings has been the subject of 17 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

  • Read more about DraftKings' stock forecast and price target.
  • Earnings Growth

    Earnings for DraftKings are expected to grow in the coming year, from ($0.31) to $0.65 per share.

  • Price to Earnings Ratio vs. the Market

    The P/E ratio of DraftKings is -39.69, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

  • Price to Earnings Ratio vs. Sector

    The P/E ratio of DraftKings is -39.69, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

  • Price to Book Value per Share Ratio

    DraftKings has a P/B Ratio of 36.41. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

  • Read more about DraftKings' valuation and earnings.
  • Percentage of Shares Shorted

    2.83% of the outstanding shares of DraftKings have been sold short.
  • Short Interest Ratio / Days to Cover

    DraftKings has a short interest ratio ("days to cover") of 2.8, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in DraftKings has recently increased by 0.65%, indicating that investor sentiment is decreasing.
  • Dividend Yield

    DraftKings does not currently pay a dividend.

  • Dividend Growth

    DraftKings does not have a long track record of dividend growth.

  • Percentage of Shares Shorted

    2.83% of the outstanding shares of DraftKings have been sold short.
  • Short Interest Ratio / Days to Cover

    DraftKings has a short interest ratio ("days to cover") of 2.8, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in DraftKings has recently increased by 0.65%, indicating that investor sentiment is decreasing.
  • News Sentiment

    DraftKings has a news sentiment score of 0.70. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.58 average news sentiment score of Consumer Discretionary companies.
  • News Coverage This Week

    MarketBeat has tracked 13 news articles for DraftKings this week, compared to 17 articles on an average week.
  • Search Interest

    55 people have searched for DKNG on MarketBeat in the last 30 days. This is an increase of 28% compared to the previous 30 days.
  • MarketBeat Follows

    Only 10 people have added DraftKings to their MarketBeat watchlist in the last 30 days. This is a decrease of -38% compared to the previous 30 days.
  • Insider Buying vs. Insider Selling

    In the past three months, DraftKings insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $46,110,465.00 in company stock.

  • Percentage Held by Insiders

    48.94% of the stock of DraftKings is held by insiders. A high percentage of insider ownership can be a sign of company health.

  • Percentage Held by Institutions

    Only 37.70% of the stock of DraftKings is held by institutions.

  • Read more about DraftKings' insider trading history.
Receive DKNG Stock News and Ratings via Email

Sign-up to receive the latest news and ratings for DraftKings and its competitors with MarketBeat's FREE daily newsletter.

DKNG Stock News Headlines

STUTTGART, GERMANY - Aug 30, 2021: Person holding cellphone with logo of American sports betting company DraftKings Inc. on screen in front of webpage. Focus on phone display. — Stock Editorial Photography
DraftKings Is the Real MVP of the 2025 NFL Football Season
DraftKings stock rises with the NFL season, boosted by live betting, BetVision, and fantasy sports. Learn why DKNG is a top pick for investors in sports betting
The real reason Elon is fully endorsing Trump
Elon Musk is one of mankind’s greatest innovators. But for all his visionary prowess and contributions to humanity, there is a war being waged on Elon Musk. This war has nothing to do with X, Elon’s stance on immigration or his support for Donald Trump.
DraftKings: Strong Financial Performance and Strategic Focus Drive Buy Rating
See More Headlines

DKNG Stock Analysis - Frequently Asked Questions

DraftKings' stock was trading at $35.25 at the beginning of the year. Since then, DKNG shares have increased by 0.2% and is now trading at $35.32.
View the best growth stocks for 2024 here
.

DraftKings Inc. (NASDAQ:DKNG) announced its quarterly earnings data on Thursday, August, 1st. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.13. The company's revenue was up 26.2% compared to the same quarter last year.

Top institutional shareholders of DraftKings include Allspring Global Investments Holdings LLC (0.28%), US Bancorp DE (0.10%), Atwood & Palmer Inc. (0.06%) and Janney Montgomery Scott LLC (0.04%). Insiders that own company stock include Matthew Kalish, Jason Robins, Paul Liberman, Harry Sloan, Jason Park, R Stanton Dodge, Erik Bradbury, Jocelyn Moore, Steven Joseph Murray, Woodrow Levin and Hany M Nada.
View institutional ownership trends
.

Shares of DKNG stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Based on aggregate information from My MarketBeat watchlists, some other companies that DraftKings investors own include NVIDIA (NVDA), Meta Platforms (META), Advanced Micro Devices (AMD), Tesla (TSLA), JPMorgan Chase & Co. (JPM), Palantir Technologies (PLTR) and Salesforce (CRM).

Company Calendar

Last Earnings
8/01/2024
Today
10/31/2024
Next Earnings (Confirmed)
11/07/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Miscellaneous amusement & recreation services
Sub-Industry
Entertainment
Current Symbol
NASDAQ:DKNG
Fax
N/A
Employees
4,400
Year Founded
2012

Price Target and Rating

Average Stock Price Target
$50.22
High Stock Price Target
$62.00
Low Stock Price Target
$35.00
Potential Upside/Downside
+39.9%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.89
Research Coverage
27 Analysts

Profitability

Net Income
$-802,140,000.00
Pretax Margin
-10.98%

Debt

Sales & Book Value

Annual Sales
$4.30 billion
Book Value
$0.97 per share

Miscellaneous

Free Float
428,817,000
Market Cap
$31.55 billion
Optionable
Optionable
Beta
1.81

Social Links

Elon Musk's Next Move Cover

Wondering when you'll finally be able to invest in SpaceX, StarLink, or The Boring Company? Click the link below to learn when Elon Musk will let these companies finally IPO.

Get This Free Report

This page (NASDAQ:DKNG) was last updated on 10/31/2024 by MarketBeat.com Staff
From Our Partners