DraftKings (DKNG)

• Market cap: $17B
• 1 day: 0.21%
• 5 days: -1.83%
• 1 month: 0.24%
• 3 months: -22.09%
• 6 months: -9.71%
• Year to date: -8.27%
• 1 year: -19.90%
• 5 years: 71.07%
• 10 years: 239.69%
• Sector: Consumer Discretionary
• Industry: Gambling

About: DraftKings got its start in 2012 as an innovator in daily fantasy sports. Then, following a Supreme Court ruling in 2018 that allowed states to legalize online sports wagering, the company expanded into online sports and casino gambling, where it generally holds the number two or three revenue share position across states in which it competes. DraftKings is now live with online or retail sports betting in about 25 states and iGaming in five states, with both products available to around 40% of Canada's population. In 2024, sports revenue was 61% of total sales, i-gaming 32%, and fantasy and lottery 7%. The company also operates a non-fungible token commissioned-based marketplace and develops and licenses online gaming products.

Employees: 5,100

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

53% more first-time investments, than exits

New positions opened: 133 | Existing positions closed: 87

43% more call options, than puts

Call options by funds: $1.25B | Put options by funds: $874M

5.18% more ownership

Funds ownership: 76.1% [Q3] → 81.28% (+5.18%) [Q4]

4% more funds holding

Funds holding: 763 [Q3] → 793 (+30) [Q4]

2% more capital invested

Capital invested by funds: $14.5B [Q3] → $14.7B (+$254M) [Q4]

11% less repeat investments, than reductions

Existing positions increased: 248 | Existing positions reduced: 280

13% less funds holding in top 10

Funds holding in top 10: 16 [Q3] → 14 (-2) [Q4]

Research analyst outlook

18 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $50 50% upside
• Avg. target: $56 69% upside
• High target: $65 95% upside

18 analyst ratings

• positive: 18 100%
• neutral: 0 0%
• negative: 0 0%

Mizuho Ben Chaiken 28% 1-year accuracy 15 / 54 met price target	77% upside $59	Outperform Maintained	28 Apr 2025
Citigroup Jason Bazinet 56% 1-year accuracy 20 / 36 met price target	65% upside $55	Buy Maintained	25 Apr 2025
TD Securities Lance Vitanza 32% 1-year accuracy 7 / 22 met price target	65% upside $55	Buy Maintained	24 Apr 2025
Truist Securities Barry Jonas 34% 1-year accuracy 13 / 38 met price target	50% upside $50	Buy Maintained	23 Apr 2025
Barclays Brandt Montour 40% 1-year accuracy 35 / 87 met price target	50% upside $50	Overweight Maintained	22 Apr 2025