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NASDAQ:DKNG

DraftKings (DKNG) Stock Price, News & Analysis

$37.86
+0.71 (+1.91%)
(As of 07/12/2024 ET)
Today's Range
$37.14
$38.21
50-Day Range
$35.13
$46.15
52-Week Range
$25.41
$49.57
Volume
7.91 million shs
Average Volume
8.80 million shs
Market Capitalization
$32.91 billion
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$49.64

DraftKings MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.79 Rating Score
Upside/​Downside
31.1% Upside
$49.64 Price Target
Short Interest
Healthy
2.68% of Shares Sold Short
Dividend Strength
N/A
Sustainability
-0.57
Upright™ Environmental Score
News Sentiment
0.52mentions of DraftKings in the last 14 days
Based on 10 Articles This Week
Insider Trading
Selling Shares
$61 M Sold Last Quarter
Proj. Earnings Growth
Growing
From ($0.26) to $0.86 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

3.78 out of 5 stars

Consumer Discretionary Sector

95th out of 270 stocks

Miscellaneous Amusement & Recreation Services Industry

7th out of 18 stocks

DKNG stock logo

About DraftKings Stock (NASDAQ:DKNG)

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.

DKNG Stock Price History

DKNG Stock News Headlines

DraftKings Sportsbook mobile app from DraftKings on an iPhone screen.
DraftKings Stock: You Can Bet on New Highs This Year
DraftKings' business is booming, the recent price correction is a buy-the-dip opportunity, and the analysts are leading the market to a new high.
I’ve seen this situation a handful of times in my life
The stock is now trading for just $10 a share. Why is this company being ignored by Wall Street, and what kind of gains could shareholders soon be looking at?
DraftKings Sportsbook mobile app from DraftKings on an iPhone screen.
DraftKings Stock: You Can Bet on New Highs This Year
DraftKings' NASDAQ: DKNG quality business and healthy outlook are why the recent stock price correction was a buy-the-dip opportunity. The market had cause to correct; Illinois raising taxes on gaming companies is not a positive for the margin, but other factors, including AI, offset it.
Is It Too Late to Buy DraftKings Stock?
DraftKings (NASDAQ:DKNG) Price Target Lowered to $53.00 at Barclays
I’ve seen this situation a handful of times in my life
The stock is now trading for just $10 a share. Why is this company being ignored by Wall Street, and what kind of gains could shareholders soon be looking at?
See More Headlines
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Company Calendar

Last Earnings
5/02/2024
Today
7/13/2024
Next Earnings (Estimated)
8/01/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

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

Price Target and Rating

Average Stock Price Target
$49.64
High Stock Price Target
$60.00
Low Stock Price Target
$23.00
Potential Upside/Downside
+31.1%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.79
Research Coverage
28 Analysts

Profitability

Net Income
$-802,140,000.00
Pretax Margin
-13.24%

Debt

Sales & Book Value

Annual Sales
$3.67 billion
Book Value
$0.97 per share

Miscellaneous

Free Float
424,275,000
Market Cap
$32.91 billion
Optionable
Optionable
Beta
1.81

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Should I Buy DraftKings Stock? DKNG Pros and Cons Explained

Pros

Here are some ways that investors could benefit from investing in DraftKings Inc.:

  • DraftKings has shown consistent revenue growth, with a 52.7% increase in quarterly revenue compared to the same period last year, indicating a positive trend in the company's financial performance.
  • The company has a strong market capitalization of $33.18 billion, reflecting investor confidence in its potential for growth and stability in the market.
  • Analysts have given DraftKings a high average rating of "Moderate Buy" with a price target of $49.17, suggesting a positive outlook on the stock's future performance.
  • Despite a negative PE ratio, DraftKings' innovative approach to digital sports entertainment and gaming has positioned it as a key player in the industry, attracting investor interest.
  • With a beta of 1.81, DraftKings' stock price is more volatile compared to the market, offering potential opportunities for higher returns to investors willing to take on additional risk.

Cons

Investors should be bearish about investing in DraftKings Inc. for these reasons:

  • DraftKings reported a negative net margin of 13.45% and a negative return on equity of 62.74%, indicating financial challenges that may impact the company's profitability and long-term sustainability.
  • The stock has a PE ratio of -32.35, which may deter value investors looking for stocks with positive earnings multiples, potentially limiting the appeal of DraftKings to certain investor groups.
  • Two analysts have rated the stock as "sell," suggesting a level of skepticism among some market experts regarding DraftKings' future performance and growth prospects.
  • The company's debt-to-equity ratio of 1.51 raises concerns about its financial leverage and ability to manage debt obligations, which could pose risks during economic downturns or market fluctuations.
  • While DraftKings has a strong presence in the digital sports entertainment and gaming sector, increased competition and regulatory challenges in the industry could impact the company's market position and profitability in the future.
These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Friday, July 5, 2024. Please send any questions or comments about these DraftKings pros and cons to contact@marketbeat.com.

DKNG Stock Analysis - Frequently Asked Questions

How have DKNG shares performed this year?

DraftKings' stock was trading at $35.25 at the beginning of the year. Since then, DKNG shares have increased by 7.4% and is now trading at $37.86.
View the best growth stocks for 2024 here
.

How were DraftKings' earnings last quarter?

DraftKings Inc. (NASDAQ:DKNG) announced its quarterly earnings data on Thursday, May, 2nd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.28) by $0.02. DraftKings's revenue was up 52.7% on a year-over-year basis.

What is Jason Robins' approval rating as DraftKings' CEO?

102 employees have rated DraftKings Chief Executive Officer Jason Robins on Glassdoor.com. Jason Robins has an approval rating of 99% among the company's employees. This puts Jason Robins in the top 10% of approval ratings compared to other CEOs of publicly-traded companies.

Who are DraftKings' major shareholders?

Top institutional investors of DraftKings include Atwood & Palmer Inc. (0.06%), CWM LLC (0.01%), Gateway Investment Advisers LLC (0.01%) and DNB Asset Management AS (0.01%). Insiders that own company stock include Shalom Meckenzie, Matthew Kalish, Jason Robins, Harry Sloan, Jason Park, Paul Liberman, R Stanton Dodge, Erik Bradbury, Jocelyn Moore, Steven Joseph Murray, Woodrow Levin, Hany M Nada and John S Salter.
View institutional ownership trends
.

How do I buy shares of DraftKings?

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.

What other stocks do shareholders of DraftKings own?

Based on aggregate information from My MarketBeat watchlists, some other companies that DraftKings investors own include NVIDIA (NVDA), Tesla (TSLA), Advanced Micro Devices (AMD), Zoom Video Communications (ZM), Block (SQ), DocuSign (DOCU) and Boeing (BA).

This page (NASDAQ:DKNG) was last updated on 7/14/2024 by MarketBeat.com Staff

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