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S&P 500   4,569.78
DOW   36,204.44
QQQ   386.32
Are penny stocks worth it? Should you invest in penny stocks?
Trading Experts Call It “The Perfect Tesla Trade” (Ad)
Why do tech stocks go down when interest rates rise?
Own Dollar General? Hurry and take this advice before earnings
Trading Experts Call It “The Perfect Tesla Trade” (Ad)
Pure Storage stock fumbles for a rare buying opportunity
Black Swan: this small cap surged over 1000% last week
Trading Experts Call It “The Perfect Tesla Trade” (Ad)
2 energy drink makers to wake up your portfolio
Snowflake’s bullish tailwind is turning into a gale-force wind
S&P 500   4,569.78
DOW   36,204.44
QQQ   386.32
Are penny stocks worth it? Should you invest in penny stocks?
Trading Experts Call It “The Perfect Tesla Trade” (Ad)
Why do tech stocks go down when interest rates rise?
Own Dollar General? Hurry and take this advice before earnings
Trading Experts Call It “The Perfect Tesla Trade” (Ad)
Pure Storage stock fumbles for a rare buying opportunity
Black Swan: this small cap surged over 1000% last week
Trading Experts Call It “The Perfect Tesla Trade” (Ad)
2 energy drink makers to wake up your portfolio
Snowflake’s bullish tailwind is turning into a gale-force wind
S&P 500   4,569.78
DOW   36,204.44
QQQ   386.32
Are penny stocks worth it? Should you invest in penny stocks?
Trading Experts Call It “The Perfect Tesla Trade” (Ad)
Why do tech stocks go down when interest rates rise?
Own Dollar General? Hurry and take this advice before earnings
Trading Experts Call It “The Perfect Tesla Trade” (Ad)
Pure Storage stock fumbles for a rare buying opportunity
Black Swan: this small cap surged over 1000% last week
Trading Experts Call It “The Perfect Tesla Trade” (Ad)
2 energy drink makers to wake up your portfolio
Snowflake’s bullish tailwind is turning into a gale-force wind
Most-Upgraded StocksMost-Upgraded

DraftKings Stock Price, News & Analysis (NASDAQ:DKNG)

$37.19
-1.81 (-4.64%)
(As of 12/4/2023 ET)
Compare
Today's Range
$36.64
▼
$38.78
50-Day Range
$26.22
▼
$39.00
52-Week Range
$10.69
▼
$39.35
Volume
17.67 million shs
Average Volume
12.40 million shs
Market Capitalization
$31.96 billion
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$35.86
Stock AnalysisAnalyst ForecastsChartCompetitorsEarningsFinancialsHeadlinesInsider TradesOptions ChainOwnershipSEC FilingsShort InterestSocial MediaSustainability

DraftKings MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.64 Rating Score
Upside/​Downside
3.6% Downside
$35.86 Price Target
Short Interest
Healthy
3.21% of Shares Sold Short
Dividend Strength
N/A
Sustainability
-0.48
Upright™ Environmental Score
News Sentiment
0.47mentions of DraftKings in the last 14 days
Based on 17 Articles This Week
Insider Trading
Selling Shares
$62.27 M Sold Last Quarter
Proj. Earnings Growth
Growing
From ($1.50) to ($0.23) Per Share

Overall MarketRank™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

1.68 out of 5 stars

Consumer Discretionary Sector

227th out of 274 stocks

Miscellaneous Amusement & Recreation Services Industry

16th out of 17 stocks

See Top Rated MarketRank™ Stocks Here

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

November 18, 2023 | marketbeat.com
MarketBeat Week in Review – 11/13 - 11/17 (DKNG)
Stocks are looking to make it three straight weeks of positive gains as positive inflation and housing news offset a weak retail outlook
November 15, 2023 | marketbeat.com
Even at a 2-year high, DraftKings is a winning bet
Online sports betting is becoming an increasingly popular activity here in the U.S. and internationally - and DraftKings is leading the game.
December 5, 2023 | DTI Trader (Ad)
New CBOE “special perk” helps traders target income every weekend
You might not immediately realize what you’re reading. Let me help you out a little… What you're looking at is a “special perk” set up by the Chicago Board of Options Exchange.
December 4, 2023 | bizjournals.com
DraftKings CEO, CFO sold combined $60M worth of stock shares in November
December 3, 2023 | americanbankingnews.com
Insider Selling: DraftKings Inc. (NASDAQ:DKNG) Insider Sells 52,777 Shares of Stock
December 2, 2023 | finance.yahoo.com
Insider Sell: Chief Legal Officer R Dodge Sells 52,777 Shares of DraftKings Inc (DKNG)
December 2, 2023 | finance.yahoo.com
Great News for DraftKings Stock Investors
December 2, 2023 | americanbankingnews.com
Insider Selling: DraftKings Inc. (NASDAQ:DKNG) Insider Sells 123,609 Shares of Stock
December 5, 2023 | DTI Trader (Ad)
All the trading advice you’ve ever received boils down to this
All the trading advice you’ve ever received boils down to one goal and one goal only: finding a reliable edge in the markets. If you can do that, grab hold of it and never let go. Because once you have that edge, and you can count on it, you never need to do anything else.
December 2, 2023 | americanbankingnews.com
Jason Park Sells 140,879 Shares of DraftKings Inc. (NASDAQ:DKNG) Stock
December 2, 2023 | americanbankingnews.com
DraftKings Inc. (NASDAQ:DKNG) Short Interest Up 14.3% in November
December 1, 2023 | markets.businessinsider.com
Oppenheimer Keeps Their Buy Rating on DraftKings (DKNG)
November 30, 2023 | benzinga.com
Market Whales and Their Recent Bets on DKNG Options
November 30, 2023 | finance.yahoo.com
Insider Sell Alert: Chief Legal Officer R Dodge Sells 123,609 Shares of DraftKings Inc (DKNG)
November 28, 2023 | americanbankingnews.com
Argus Raises DraftKings (NASDAQ:DKNG) Price Target to $46.00
November 28, 2023 | americanbankingnews.com
DraftKings (NASDAQ:DKNG) Receives Buy Rating from Needham & Company LLC
November 27, 2023 | msn.com
DraftKings Inc. - (DKNG) Price Target Increased by 9.64% to 40.37
November 27, 2023 | markets.businessinsider.com
The Latest Analyst Ratings for DraftKings
November 26, 2023 | americanbankingnews.com
Jason Robins Sells 200,000 Shares of DraftKings Inc. (NASDAQ:DKNG) Stock
November 26, 2023 | americanbankingnews.com
Jason Park Sells 750,000 Shares of DraftKings Inc. (NASDAQ:DKNG) Stock
November 24, 2023 | msn.com
Cathie Wood Sold More DraftKings Stock. Wall Street Still Thinks It’s a Good Bet.
November 23, 2023 | seekingalpha.com
DraftKings: ESPN Bet May Derail Its FY2024 Profit Targets
November 21, 2023 | seekingalpha.com
DraftKings Q3: 2026 EBITDA Targets Look Beatable (Upgrade)
November 21, 2023 | markets.businessinsider.com
Analysts’ Top NA Picks: DraftKings (DKNG), Home Depot (HD)
November 21, 2023 | msn.com
Why ESPN BET Could Absolutely Crush DraftKings and Fan Duel
November 20, 2023 | benzinga.com
DraftKings Stock (NASDAQ:DKNG) Insider Trades
November 20, 2023 | finance.yahoo.com
Gaming Stocks Return to Favor as DraftKings Soars to 52-Week High
See More Headlines
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Company Calendar

Last Earnings
11/02/2023
Today
12/04/2023
Fiscal Year End
12/31/2023
Next Earnings (Estimated)
2/15/2024
Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange
NASDAQ
Industry
Miscellaneous amusement & recreation services
Sub-Industry
N/A
Sector
Consumer Discretionary
Current Symbol
NASDAQ:DKNG
CUSIP
N/A
CIK
1772757
Web
www.draftkings.com
Phone
617-986-6744
Fax
N/A
Employees
4,200
Year Founded
2012

Price Target and Rating

Average Stock Price Target
$35.86
High Stock Price Target
$50.00
Low Stock Price Target
$15.00
Potential Upside/Downside
-3.6%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.64
Research Coverage
28 Analysts

Profitability

EPS (Most Recent Fiscal Year)
($2.18)
Trailing P/E Ratio
N/A
Forward P/E Ratio
N/A
P/E Growth
N/A
Net Income
$-1,377,990,000.00
Net Margins
-30.41%
Pretax Margin
-29.98%
Return on Equity
-96.17%
Return on Assets
-26.24%

Debt

Debt-to-Equity Ratio
1.56
Current Ratio
1.29
Quick Ratio
1.29

Sales & Book Value

Annual Sales
$3.29 billion
Price / Sales
9.71
Cash Flow
N/A
Price / Cash Flow
N/A
Book Value
$1.57 per share
Price / Book
23.69

Miscellaneous

Outstanding Shares
859,256,000
Free Float
378,760,000
Market Cap
$31.96 billion
Optionable
Optionable
Beta
1.91

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Should I Buy DraftKings Stock? DKNG Pros and Cons Explained

These insights were generated using artificial intelligence. They are based on proprietary MarketBeat data, news articles, and custom LLM A.I. algorithms. This analysis of DraftKings was last updated on Tuesday, November 28, 2023 at 11:47 AM.

Pros

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

  • DraftKings Inc. operates a digital sports entertainment and gaming company, offering multi-channel sports betting and gaming technologies. This provides investors with exposure to the growing online gambling industry.
  • Recent developments in the company's technology and platform have improved user experience and increased customer engagement, leading to higher revenues and potential for future growth.
  • DraftKings Inc. has formed strategic partnerships with major sports leagues and teams, enhancing its brand recognition and expanding its customer base.
  • The company's acquisition of Vegas Sports Information Network (VSiN), a multi-platform broadcast and content company, strengthens its position in the sports media industry and opens up new revenue streams.
  • With its headquarters in Boston, Massachusetts, DraftKings Inc. benefits from being located in a state with a favorable regulatory environment for online gambling, providing stability and growth opportunities.

Cons

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

  • While the online gambling industry has potential for growth, it also faces regulatory challenges and uncertainties in various jurisdictions. Changes in regulations could impact the company's operations and profitability.
  • Competition in the online gambling market is intense, with numerous established players and new entrants vying for market share. DraftKings Inc. may face challenges in maintaining its competitive position and attracting new customers.
  • The company's stock price is subject to market volatility and can be influenced by factors such as overall market conditions, investor sentiment, and industry trends. Investors should carefully consider the risks associated with investing in the stock.
  • DraftKings Inc. operates in a highly regulated industry, and any violations or non-compliance with applicable laws and regulations could result in legal and financial consequences.
  • Investors should be aware of the potential impact of economic downturns or recessions on consumer spending habits, which could affect the demand for online gambling services and the company's financial performance.














DKNG Stock Analysis - Frequently Asked Questions

Should I buy or sell DraftKings stock right now?

28 Wall Street analysts have issued "buy," "hold," and "sell" ratings for DraftKings in the last twelve months. There are currently 3 sell ratings, 4 hold ratings and 21 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" DKNG shares.
View DKNG analyst ratings or view top-rated stocks.

What is DraftKings' stock price target for 2024?

28 equities research analysts have issued twelve-month target prices for DraftKings' shares. Their DKNG share price targets range from $15.00 to $50.00. On average, they predict the company's stock price to reach $35.86 in the next twelve months. This suggests that the stock has a possible downside of 3.6%.
View analysts price targets for DKNG or view top-rated stocks among Wall Street analysts.

How have DKNG shares performed in 2023?

DraftKings' stock was trading at $11.39 at the start of the year. Since then, DKNG stock has increased by 226.5% and is now trading at $37.19.
View the best growth stocks for 2023 here.

Are investors shorting DraftKings?

DraftKings saw a increase in short interest during the month of November. As of November 15th, there was short interest totaling 27,610,000 shares, an increase of 14.3% from the October 31st total of 24,150,000 shares. Based on an average daily volume of 12,290,000 shares, the days-to-cover ratio is currently 2.2 days.
View DraftKings' Short Interest.

When is DraftKings' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, February 15th 2024.
View our DKNG earnings forecast.

How were DraftKings' earnings last quarter?

DraftKings Inc. (NASDAQ:DKNG) posted its earnings results on Thursday, November, 2nd. The company reported ($0.61) EPS for the quarter, topping analysts' consensus estimates of ($0.69) by $0.08. The company earned $789.96 million during the quarter, compared to analyst estimates of $702.26 million. DraftKings had a negative net margin of 30.41% and a negative trailing twelve-month return on equity of 96.17%.

What ETFs hold DraftKings' stock?

ETFs with the largest weight of DraftKings (NASDAQ:DKNG) stock in their portfolio include iBET Sports Betting & Gaming ETF (IBET), Pacer BlueStar Digital Entertainment ETF (ODDS), ARK Fintech Innovation ETF (ARKF), Jacob Forward ETF (JFWD), Adaptiv Select ETF (ADPV), Roundhill Sports Betting & iGaming ETF (BETZ), VanEck Gaming ETF (BJK) and SoFi Web 3 ETF (TWEB).

What guidance has DraftKings issued on next quarter's earnings?

DraftKings updated its FY 2028 earnings guidance on Tuesday, November, 14th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $7.10 billion-$7.10 billion.

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.

What other stocks do shareholders of DraftKings own?

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

Who are DraftKings' major shareholders?

DraftKings' stock is owned by a variety of institutional and retail investors. Top institutional investors include ARK Investment Management LLC (1.71%), Sumitomo Mitsui Trust Holdings Inc. (1.18%), Jericho Capital Asset Management L.P. (0.83%), Raine Capital LLC (0.54%), Ameriprise Financial Inc. (0.52%) and Massachusetts Financial Services Co. MA (0.43%). Insiders that own company stock include Erik Bradbury, Gary W Rollins, Hany M Nada, Harry Sloan, Jason Park, Jason Robins, John S Salter, Matthew Kalish, Paul Liberman, R Stanton Dodge, Shalom Meckenzie, Steven Joseph Murray and Woodrow Levin.
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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

This page (NASDAQ:DKNG) was last updated on 12/5/2023 by MarketBeat.com Staff

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