DraftKingsDKNG
Market Cap: $17B
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 27 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: 4,400
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
80% more call options, than puts
Call options by funds: $1.36B | Put options by funds: $755M
32% more repeat investments, than reductions
Existing positions increased: 311 | Existing positions reduced: 236
0.04% more ownership
Funds ownership: 73.31% [Q1] → 73.35% (+0.04%) [Q2]
3% less funds holding
Funds holding: 805 [Q1] → 783 (-22) [Q2]
14% less capital invested
Capital invested by funds: $15.8B [Q1] → $13.6B (-$2.2B) [Q2]
18% less first-time investments, than exits
New positions opened: 102 | Existing positions closed: 124
19% less funds holding in top 10
Funds holding in top 10: 21 [Q1] → 17 (-4) [Q2]
Research analyst outlook
30 Wall Street Analysts provided 1 year price targets over the past 3 months
30 analyst ratings
UBS Robin Farley 67% 1-year accuracy 8 / 12 met price target | 65%upside $58 | Buy Maintained | 4 Sept 2024 |
Susquehanna Joseph Stauff 46% 1-year accuracy 13 / 28 met price target | 37%upside $48 | Positive Maintained | 4 Sept 2024 |
Needham Bernie McTernan 50% 1-year accuracy 59 / 117 met price target | 71%upside $60 | Buy Reiterated | 3 Sept 2024 |
Macquarie Chad Beynon 58% 1-year accuracy 15 / 26 met price target | 42%upside $50 | Outperform Maintained | 26 Aug 2024 |
Benchmark Mike Hickey 74% 1-year accuracy 48 / 65 met price target | 25%upside $44 | Buy Maintained | 20 Aug 2024 |
Financial journalist opinion
Based on 101 articles about DKNG published over the past 30 days