DraftKings (DKNG)

• Market cap: $18B
• 1 day: -3.90%
• 5 days: 0.55%
• 1 month: -3.13%
• 3 months: -1.32%
• 6 months: -8.48%
• Year to date: 0.58%
• 1 year: -6.36%
• 5 years: -12.66%
• 10 years: 272.45%
• 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 28 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 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)

67% more call options, than puts

Call options by funds: $1.29B | Put options by funds: $771M

36% more repeat investments, than reductions

Existing positions increased: 309 | Existing positions reduced: 227

21% more first-time investments, than exits

New positions opened: 131 | Existing positions closed: 108

7% more funds holding in top 10

Funds holding in top 10: 14 [Q4 2024] → 15 (+1) [Q1 2025]

0.24% more ownership

Funds ownership: 81.31% [Q4 2024] → 81.55% (+0.24%) [Q1 2025]

0% more funds holding

Funds holding: 797 [Q4 2024] → 798 (+1) [Q1 2025]

8% less capital invested

Capital invested by funds: $14.7B [Q4 2024] → $13.6B (-$1.18B) [Q1 2025]

Research analyst outlook

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

• Low target: $48 32% upside
• Avg. target: $54 47% upside
• High target: $60 64% upside

15 analyst ratings

• positive: 15 100%
• neutral: 0 0%
• negative: 0 0%

JMP Securities Jordan Bender	37% upside $50	Market Outperform Maintained	5 Jun 2025
Morgan Stanley Stephen Grambling	40% upside $51	Overweight Maintained	30 May 2025
Susquehanna Joseph Stauff	42% upside $52	Positive Maintained	12 May 2025
Macquarie Chad Beynon	45% upside $53	Outperform Maintained	12 May 2025
Mizuho Ben Chaiken	59% upside $58	Outperform Maintained	12 May 2025