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DraftKings (DKNG) Stock Price, News & Analysis

$40.81
+0.21 (+0.52%)
(As of 05/24/2024 ET)
Today's Range
$40.55
$41.65
50-Day Range
$40.55
$48.68
52-Week Range
$22.92
$49.57
Volume
7.23 million shs
Average Volume
9.82 million shs
Market Capitalization
$35.47 billion
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$49.21

DraftKings MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.82 Rating Score
Upside/​Downside
20.6% Upside
$49.21 Price Target
Short Interest
Healthy
2.15% of Shares Sold Short
Dividend Strength
N/A
Sustainability
-0.57
Upright™ Environmental Score
News Sentiment
0.80mentions of DraftKings in the last 14 days
Based on 21 Articles This Week
Insider Trading
Selling Shares
$25.43 M Sold Last Quarter
Proj. Earnings Growth
Growing
From ($0.19) to $0.89 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.

3.79 out of 5 stars

Consumer Discretionary Sector

100th out of 271 stocks

Miscellaneous Amusement & Recreation Services Industry

8th 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

Sportradar Rides the Sports Betting Trend From Behind the Curtain (DKNG)
Investors have been pouring into sports betting stocks, but they may be missing out on Sportradar Group which is the engine that drives the industry
International Game Technology Isn’t Playing Games With Guidance (DKNG)
IGT stock is surging higher as the company plans to merge with Everi to form a one-stop shop that offers land-based gaming, sports betting, iGaming and fintech
DraftKings Q1: Strong Customer Acquisition and Product Innovation
DraftKings NASDAQ: DKNG  is a prominent player in the online sports entertainment and gaming industry. Draft Kings' earnings report for the first quarter of 2024 was recently released, showcasing impressive financial performance and solidifying its position as a leader in the rapidly expanding consumer discretionary market.
DraftKings Q1: Strong Customer Acquisition and Product Innovation
DraftKings' earnings report reveals financial growth and strategic advancements.
DraftKings: Tailwinds On All Sides
DraftKings Completes Acquisition of Jackpocket
7 Growth Stocks to Buy Now for 20X Returns by 2030
3 Meme Stocks to Buy on the Dip: May 2024
See More Headlines
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Company Calendar

Last Earnings
5/02/2024
Today
5/26/2024
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
$49.21
High Stock Price Target
$60.00
Low Stock Price Target
$23.00
Potential Upside/Downside
+20.6%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.82
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
$0.96 per share

Miscellaneous

Free Float
424,275,000
Market Cap
$35.47 billion
Optionable
Optionable
Beta
1.87

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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 year. There are currently 2 sell ratings, 1 hold rating and 25 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 brokers have issued 12 month price objectives for DraftKings' stock. Their DKNG share price targets range from $23.00 to $60.00. On average, they expect the company's share price to reach $49.21 in the next twelve months. This suggests a possible upside of 20.6% from the stock's current price.
View analysts price targets for DKNG
or view top-rated stocks among Wall Street analysts.

How have DKNG shares performed in 2024?

DraftKings' stock was trading at $35.25 on January 1st, 2024. Since then, DKNG shares have increased by 15.8% and is now trading at $40.81.
View the best growth stocks for 2024 here
.

When is DraftKings' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, August 1st 2024.
View our DKNG earnings forecast
.

How were DraftKings' earnings last quarter?

DraftKings Inc. (NASDAQ:DKNG) released its earnings results on Thursday, May, 2nd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by $0.02. The company earned $1.18 billion during the quarter, compared to analyst estimates of $1.12 billion. DraftKings had a negative net margin of 13.45% and a negative trailing twelve-month return on equity of 62.74%. The business's revenue for the quarter was up 52.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.87) EPS.

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

DraftKings issued an update on its FY 2024 earnings guidance on Friday, May, 3rd. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $4.8 billion-$5.0 billion, compared to the consensus revenue estimate of $4.8 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 number of institutional and retail investors. Top institutional investors include Vanguard Group Inc. (4.62%), Sumitomo Mitsui Trust Holdings Inc. (0.88%), Nikko Asset Management Americas Inc. (0.78%), Capital Research Global Investors (0.75%), Whale Rock Capital Management LLC (0.71%) and Jericho Capital Asset Management L.P. (0.57%). 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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NASDAQ:DKNG) was last updated on 5/26/2024 by MarketBeat.com Staff

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