Streetbeat News

DKNG

DraftKings Inc.

https://www.draftkings.com

Industry

Gambling, Resorts & Casinos

DraftKings Inc. operates a digital sports entertainment and gaming company. It offers multi-channel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. The company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states. Its Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in 18 states. The company's daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories. In addition, it offers DraftKings Marketplace, a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions, as well as owns Vegas Sports Information Network (VSiN), a multi-platform broadcast and content company. DraftKings Inc. was founded in 2011 and is headquartered in Boston, Massachusetts.

Open

40.75

Mkt cap

19B

Volume

11M

High

40.75

P/E Ratio

-45.79

52-wk high

49.57

Low

38.94

Div yield

N/A

52-wk low

28.69

Dave Portnoy, founder of Barstool Sportsbook, has placed significant bets on the Edmonton Oilers and Boston Celtics to win their respective championships. If successful, these bets could net him over $2.5 million. The bets were placed with DraftKings, and the games will be broadcast on ABC and ESPN+, units of The Walt Disney Company.

Portfolio Pulse from Chris Katje

June 06, 2024 | 3:42 pm

Susquehanna analyst Joseph Stauff maintains a Positive rating on DraftKings (NASDAQ:DKNG) but lowers the price target from $56 to $49.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 1:24 pm

Oppenheimer analyst Jed Kelly suggests that DraftKings Inc (NASDAQ:DKNG) and FanDuel, owned by Flutter Entertainment PLC (NYSE:FLUT), are forming a sports-betting duopoly. Both companies are outperforming despite competition from PENN Entertainment Inc (NASDAQ:PENN) and MGM Resorts International (NYSE:MGM). Kelly initiated coverage on Flutter with an Outperform rating and a $240 price target, citing its high market share and resilience to state-level taxes.

Portfolio Pulse from Hayden Buckfire

June 04, 2024 | 3:37 pm

The article highlights the ten large-cap stocks that were the worst performers last week, including MongoDB, Nutanix, DraftKings, Salesforce, Samsara, Celsius Holdings, Agilent Technologies, Snowflake, ServiceNow, and Hormel Foods. The declines were driven by weak guidance, earnings results, tax hikes, and other factors.

Portfolio Pulse from Lekha Gupta

June 02, 2024 | 3:12 pm

Former President Donald Trump remains the betting favorite to win the 2024 election despite being found guilty on 34 federal charges. The verdict caused a brief overreaction in betting odds, but they have since stabilized. DraftKings and Polymarket are mentioned as platforms offering political betting.

Portfolio Pulse from Chris Katje

May 31, 2024 | 11:22 pm

Deep-pocketed investors have shown a bearish sentiment towards DraftKings (NASDAQ:DKNG) through significant options activities. Benzinga's options scanner highlighted 11 extraordinary options activities, with 54% being bearish. The trading volume and open interest suggest a price range of $28.0 to $55.0 for DKNG. Despite the bearish sentiment, analysts maintain a positive outlook with an average target price of $58.4.

Portfolio Pulse from Benzinga Insights

May 31, 2024 | 5:17 pm

LeBron James and his son Bronny James are key storylines for the 2023-2024 NBA offseason. Bronny James is a top NBA Draft prospect, and his selection could influence where LeBron plays next season. The NBA Draft will be televised by ABC and ESPN, units of Walt Disney Co (NYSE:DIS). DraftKings Inc (NASDAQ:DKNG) has released betting odds for which teams might draft Bronny and where LeBron might play. Madison Square Garden Sports Corp (NYSE:MSGS) could see stock movement if the New York Knicks land either James.

Portfolio Pulse from Chris Katje

May 30, 2024 | 4:57 pm

DraftKings Inc (NASDAQ:DKNG) shares are trading lower after the Illinois State Senate approved a significant sports betting tax hike, which will more than double the current tax rate. Despite the bearish technical indicators, analysts maintain a bullish outlook with a consensus Buy rating and a price target suggesting a potential upside of 56.49%.

Portfolio Pulse from Surbhi Jain

May 29, 2024 | 7:50 pm

DraftKings (NASDAQ:DKNG) has received a diverse range of ratings from 26 analysts over the past three months, with a majority being bullish. The average 12-month price target has increased to $54.35, reflecting a positive sentiment. Key financial indicators show strong revenue growth but challenges in profitability and returns.

Portfolio Pulse from Benzinga Insights

May 29, 2024 | 12:00 pm

Stifel analyst Jeffrey Stantial maintains a Buy rating on DraftKings (NASDAQ:DKNG) but lowers the price target from $51 to $50.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 11:20 am

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