DraftKings (DKNG)

• Market cap: $19.7B
• 1 day: 2.41%
• 5 days: 0.55%
• 1 month: -7.88%
• 3 months: 2.72%
• 6 months: -6.16%
• Year to date: 20.16%
• 1 year: 17.67%
• 5 years: 108.53%
• 10 years: 108.53%
• 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 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: 4,400

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

53% more call options, than puts

Call options by funds: $1.24B | Put options by funds: $812M

5% more capital invested

Capital invested by funds: $13.8B [Q2] → $14.5B (+$737M) [Q3]

1.81% more ownership

Funds ownership: 74.52% [Q2] → 76.33% (+1.81%) [Q3]

9% more repeat investments, than reductions

Existing positions increased: 277 | Existing positions reduced: 253

4% less funds holding

Funds holding: 789 [Q2] → 760 (-29) [Q3]

6% less funds holding in top 10

Funds holding in top 10: 17 [Q2] → 16 (-1) [Q3]

23% less first-time investments, than exits

New positions opened: 97 | Existing positions closed: 126

Research analyst outlook

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

• Low target: $44 9% upside
• Avg. target: $52 29% upside
• High target: $62 54% upside

12 analyst ratings

• positive: 12 100%
• neutral: 0 0%
• negative: 0 0%

JP Morgan Joseph Greff 31% 1-year accuracy 9 / 29 met price target	31% upside $53	Overweight Maintained	13 Dec 2024
TD Cowen Stephen Glagola 0% 1-year accuracy 0 / 3 met price target	36% upside $55	Buy Maintained	12 Nov 2024
Macquarie Chad Beynon 60% 1-year accuracy 24 / 40 met price target	26% upside $51	Outperform Maintained	11 Nov 2024
Barclays Brandt Montour 51% 1-year accuracy 43 / 84 met price target	24% upside $50	Overweight Maintained	11 Nov 2024
JMP Securities Jordan Bender 37% 1-year accuracy 22 / 59 met price target	29% upside $52	Market Outperform Maintained	11 Nov 2024