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

JMP Securities analyst Jordan Bender maintains an Outperform rating on DraftKings (NASDAQ:DKNG) and raises the price target from $31 to $33.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 11:01 am

Google Play has updated its policy to allow tokenized digital assets, including NFTs, in apps and games. This change could potentially increase the usage and popularity of NFTs.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 6:14 pm

Bank of America Corp (BAC) Global Securities has upgraded DraftKings Inc (DKNG) from a Neutral to a Buy rating, increasing the price target from $26 to $32. The upgrade is based on DraftKings' product and revenue momentum, which are nearing a critical point that may lead to significant improvements in margins and profitability. BAC's new EBITDA estimate for DraftKings for 2025 is 17% above the consensus, with an additional 15%-25% upside potentially on the cards. DraftKings' market share in online sports betting has grown from 21% to 29% in the past year.

Portfolio Pulse from AJ Fabino

July 12, 2023 | 4:14 pm

DraftKings Inc (NASDAQ:DKNG) shares are trading higher following positive analyst coverage. BofA Securities analyst Shaun Kelley upgraded DraftKings from a Neutral rating to a Buy rating and raised the price target to $35. Benchmark analyst Mike Hickey also maintained DraftKings with a Buy rating and raised the price target from $26 to $32. The stock has already risen more than 150% year-to-date.

Portfolio Pulse from Adam Eckert

July 12, 2023 | 1:04 pm

Benchmark analyst Mike Hickey maintains a Buy rating on DraftKings (NASDAQ:DKNG) and raises the price target from $26 to $32.

Portfolio Pulse from richadhand@benzinga.com

July 12, 2023 | 12:51 pm

DraftKings' stock has been upgraded from Neutral to Buy by B of A Securities, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 11:48 am

B of A Securities analyst Shaun Kelley has upgraded DraftKings (NASDAQ:DKNG) from Neutral to Buy and announced a $35 price target.

Portfolio Pulse from richadhand@benzinga.com

July 12, 2023 | 10:26 am

DraftKings Inc. (NASDAQ:DKNG) shares rose sharply on Monday, with options trading at 2.4x its average daily volume. Calls outpaced puts by 3 to 1, indicating traders expect the stock to move higher by the end of the week. DraftKings recently announced it is no longer pursuing an acquisition of the U.S. business of PointsBet.

Portfolio Pulse from Lisa Levin

July 11, 2023 | 12:27 pm

Ark Investment Management, led by Cathie Wood, has invested $3.28 million in Taiwan Semiconductor Manufacturing Company Limited (TSM), purchasing 32,896 shares. This comes after TSM reported better-than-expected Q2 sales. Ark also bought shares of PagerDuty, Inc. (PD) and Adaptive Technologies, Inc. (ADPT). Meanwhile, it sold shares of Kratos Defense & Security Solutions, Inc. (KTOS), Surface Oncology, Inc. (SURF), and DraftKings, Inc. (DKNG).

Portfolio Pulse from Shanthi Rexaline

July 11, 2023 | 5:45 am

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