DraftKings (DKNG)

• Market cap: $18.8B
• 1 day: 4.33%
• 5 days: 12.84%
• 1 month: 10.43%
• 3 months: -16.81%
• 6 months: -9.37%
• Year to date: 4.16%
• 1 year: -12.52%
• 5 years: 43.73%
• 10 years: 285.71%
• 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: $48 27% upside
• Avg. target: $56 47% upside
• High target: $61 61% upside

18 analyst ratings

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

Mizuho Ben Chaiken 31% 1-year accuracy 17 / 55 met price target	53% upside $58	Outperform Maintained	12 May 2025
Barclays Brandt Montour 33% 1-year accuracy 1 / 3 met price target	27% upside $48	Overweight Maintained	12 May 2025
Guggenheim Curry Baker 38% 1-year accuracy 15 / 40 met price target	59% upside $60	Buy Maintained	12 May 2025
Needham Bernie McTernan 52% 1-year accuracy 70 / 134 met price target	59% upside $60	Buy Maintained	12 May 2025
B of A Securities Shaun Kelley 44% 1-year accuracy 4 / 9 met price target	32% upside $50	Buy Maintained	9 May 2025