DraftKings (DKNG)

• Market cap: $18.2B
• 1 day: -5.51%
• 5 days: -8.52%
• 1 month: -13.07%
• 3 months: -10.70%
• 6 months: 1.72%
• Year to date: 2.62%
• 1 year: -10.52%
• 5 years: 92.45%
• 10 years: 92.45%
• Sector: Consumer Discretionary
• Industry: Miscellaneous Amusement & Recreation

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 filings by fund managers ($100M+ AUM)

47% more first-time investments, than exits

New positions opened: 131 | Existing positions closed: 89

43% more call options, than puts

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

4.56% more ownership

Funds ownership: 76.78% [Q3] → 81.34% (+4.56%) [Q4]

3% more funds holding

Funds holding: 765 [Q3] → 788 (+23) [Q4]

1% more capital invested

Capital invested by funds: $14.6B [Q3] → $14.8B (+$177M) [Q4]

11% less repeat investments, than reductions

Existing positions increased: 247 | Existing positions reduced: 278

13% less funds holding in top 10

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

Research analyst outlook

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

• Low target: $51 37% upside
• Avg. target: $58 55% upside
• High target: $65 75% upside

13 analyst ratings

• positive: 13 100%
• neutral: 0 0%
• negative: 0 0%

Benchmark Mike Hickey 58% 1-year accuracy 54 / 93 met price target	37% upside $51	Buy Maintained	10 Mar 2025
Morgan Stanley Stephen Grambling 57% 1-year accuracy 16 / 28 met price target	42% upside $53	Overweight Maintained	24 Feb 2025
JP Morgan Joseph Greff 38% 1-year accuracy 9 / 24 met price target	64% upside $61	Overweight Maintained	18 Feb 2025
JMP Securities Jordan Bender 57% 1-year accuracy 32 / 56 met price target	61% upside $60	Market Outperform Maintained	18 Feb 2025
Wells Fargo Daniel Politzer 41% 1-year accuracy 24 / 59 met price target	61% upside $60	Overweight Maintained	18 Feb 2025