DraftKingsDKNG
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 30 states and iGaming in seven states, with both products available to around 40% of Canada's population. 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 Q3 regulatory filings by fund managers ($100M+ AUM)
65% more call options, than puts
Call options by funds: $1.35B | Put options by funds: $814M
6% more capital invested
Capital invested by funds: $13.8B [Q2] → $14.6B (+$769M) [Q3]
1.96% more ownership
Funds ownership: 74.89% [Q2] → 76.86% (+1.96%) [Q3]
9% more repeat investments, than reductions
Existing positions increased: 277 | Existing positions reduced: 254
4% less funds holding
Funds holding: 792 [Q2] → 761 (-31) [Q3]
6% less funds holding in top 10
Funds holding in top 10: 17 [Q2] → 16 (-1) [Q3]
19% less first-time investments, than exits
New positions opened: 96 | Existing positions closed: 118
Research analyst outlook
7 Wall Street Analysts provided 1 year price targets over the past 3 months
7 analyst ratings
Benchmark Mike Hickey 76% 1-year accuracy 65 / 86 met price target | 5%downside $51 | Buy Maintained | 14 Feb 2025 |
JMP Securities Jordan Bender 47% 1-year accuracy 27 / 57 met price target | 7%downside $50 | Market Outperform Reiterated | 14 Feb 2025 |
Canaccord Genuity Michael Graham 43% 1-year accuracy 6 / 14 met price target | 12%upside $60 | Buy Maintained | 14 Feb 2025 |
Needham Bernie McTernan 80% 1-year accuracy 105 / 132 met price target | 12%upside $60 | Buy Reiterated | 14 Feb 2025 |
TD Cowen Lance Vitanza 62% 1-year accuracy 16 / 26 met price target | 5%downside $51 | Buy Maintained | 4 Feb 2025 |
Financial journalist opinion
Based on 37 articles about DKNG published over the past 30 days









