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

DraftKings Inc. (NASDAQ:DKNG) shares are trading lower due to concerns over increasing taxation in the sports betting industry. The company has also completed its acquisition of digital lottery app Jackpocket, aiming to enhance customer acquisition and cross-selling initiatives.

Portfolio Pulse from Vaishali Prayag

May 23, 2024 | 7:53 pm

The NFL released its 2024 schedule, highlighting new media partnerships and key matchups. Netflix will stream NFL games for the first time, while Comcast, Fox, Amazon, and Disney continue to hold significant broadcasting rights. The Chiefs are the favorites to win the Super Bowl, and betting odds have shifted for several teams.

Portfolio Pulse from Chris Katje

May 19, 2024 | 2:10 pm

Scottie Scheffler, the world number-one golfer, was arrested outside the Valhalla Golf Club in Louisville, Kentucky, but was released in time to continue playing in the PGA Championship. Despite the arrest, Scheffler's betting odds remain strong, with support from notable figures like Dave Portnoy. The incident could boost viewership for the tournament, which is being broadcast by ESPN and CBS.

Portfolio Pulse from Chris Katje

May 17, 2024 | 3:51 pm

Jim Cramer recommends buying DraftKings Inc. (DKNG) and praises Boston Scientific Corporation (BSX). He expresses concerns about Ouster, Inc. (OUST) and MP Materials Corp. (MP), and notes that Accenture plc (ACN) is undervalued. Cramer is cautious about Vistra Corp. (VST) and needs to research it further.

Portfolio Pulse from Avi Kapoor

May 17, 2024 | 12:58 pm

High-rolling investors have shown significant bullish interest in DraftKings (NASDAQ:DKNG) through options trading, with 62% of the trades being bullish. The options activity suggests a targeted price range of $34.0 to $47.5. Analysts have given DKNG an average target price of $53.2, with ratings mostly being positive.

Portfolio Pulse from Benzinga Insights

May 16, 2024 | 4:08 pm

At Benzinga's Sports Betting & Gaming Conference, Citizens JMP Equity Analyst Jordan Bender highlighted that player prop bets and pricing bets are expected to significantly boost future revenues for DraftKings and FanDuel.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 4:01 pm

At Benzinga's Sports Betting & Gaming Conference, Macquarie's Head of US Research, Chad Beynon, highlighted DraftKings as a key player in the sports betting and iGaming space. He noted that while DraftKings has set the tone, there are other companies in the sector poised for similar growth.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 3:25 pm

Needham analyst Bernie McTernan reiterated a Buy rating on Penn Entertainment (PENN) with a $26 price target, citing optimism about PENN's partnership with ESPN. McTernan believes this partnership can help PENN gain market share and leverage ESPN's brand for future growth.

Portfolio Pulse from Hayden Buckfire

May 15, 2024 | 6:11 pm

UBS analyst Robin Farley maintains a Buy rating on DraftKings (NASDAQ:DKNG) and raises the price target from $56 to $60.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 1:50 pm

Disney+ is set to live stream Caitlin Clark's WNBA debut, marking a significant step in sports coverage on the platform. The event could boost viewership across Disney's platforms, including ESPN+ and cable networks. Other media partners like E.W. Scripps Company, Paramount Global, Amazon, and DraftKings are also involved in broadcasting WNBA games or offering betting odds, potentially benefiting from the anticipated high viewership.

Portfolio Pulse from Chris Katje

May 13, 2024 | 7:43 pm

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