DraftKings Inc.
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Range $27 – $48
Price Chart
About the company
DraftKings Inc. operates as a leading digital enterprise specializing in sports entertainment and gaming. The company provides sophisticated multi-channel sports betting and gaming technology solutions to operators across 17 countries, facilitating diverse entertainment experiences.
- CEO
- Jason D. Robins
- IPO
- 2019
- Employees
- 5,500
- HQ
- Boston, MA, US
AI snapshot
Six angles, distilled from the data.
The stock is still in a damaged downtrend, trading below both the 50-day and 200-day moving averages. It sits near the lower end of its 52-week range, which keeps the setup in a repair phase rather than a confirmed reversal.
Street sentiment stays constructive, with a Buy consensus and an average target of 33.56 versus a 30.5 median. Recent calls have been mixed but still positive overall, including multiple Buy reiterations and fresh Outperform initiations, even as a few targets were trimmed.
The next print carries a tough setup after a recent EPS miss and a 2-for-7 beat rate over the last seven quarters. Analysts still model a sharp earnings rebound to 1.6946 next year, so shareholders should watch margin discipline and whether revenue trends stabilize.
No clear discretionary insider buying or selling stands out. The recent activity is dominated by automatic or administrative filings tied to awards, exemptions, and in-kind tax-related flows, which read as routine rather than a directional signal.
Profitability remains weak, but cash generation is solid. Gross margin is 76.1%, while operating margin is -4.72% and net margin is -2.68%; free cash flow reached 678.2 million with 662.9 million in operating cash flow for 2025.
DraftKings remains a premium digital gaming name with a 28.81 P/E, above many slower-growth consumer peers. The setup favors investors who want a category leader with strong gross margins and improving cash flow, but execution still matters more than valuation.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $9.72B
- P/E
- -58.19
- Fwd P/E
- 168.21
- PEG
- 0.01
- P/S
- 1.56
- P/B
- 17.08
- EV/EBITDA
- 65.24
- Div Yield
- 0.00%
- Gross Margin
- 40.54%
- Op Margin
- -2.93%
- Net Margin
- -2.68%
- ROE
- -26.30%
- ROIC
- -6.67%
Latest fiscal year · YoY change
- Revenue
- $6.05B+27.0%
- Gross Profit
- $2.50B+37.4%
- Op Income
- $-15,817,000
- Net Income
- $3.71M+100.7%
- EPS
- $-0.01+99.0%
- OCF Growth
- +58.7%
- FCF Growth
- +58.9%
- 52W High
- $36.98
- 52W Low
- $18.52
- 50D MA
- $23.55
- 200D MA
- $25.72
- Beta
- 1.63
- RSI (14)
- 36
- Avg Volume
- 12.59M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
DraftKings said Q2 was strong, with $115 million of adjusted EBITDA, rapid Predictions adoption, and maintained full-year 2026 guidance despite planned investment in Predictions.· August 7, 2026
- Q2 adjusted EBITDA was $115 million; management said it would have been higher without customer-friendly sport outcomes and stronger-than-expected customer acquisition.
- Revenue was said to have increased 10% year over year when normalizing for sport outcomes and customer acquisition.
- Customer acquisition grew nearly 75% year over year, monthly unique payers grew 9% year over year, and Sportsbook handle rose 11% year over year.
- Predictions is scaling quickly: more than 600,000 customers engaged year to date, and annualized total volume traded grew from $2.3 billion in April to $11 billion in July.
- Full-year 2026 guidance was unchanged at $6.5 billion to $6.9 billion of revenue and $700 million to $900 million of adjusted EBITDA.
DraftKings reported second-quarter 2026 adjusted EBITDA of $115 million. Management said revenue, when normalized for sport outcomes and customer acquisition, increased 10% year over year, while Sportsbook handle increased 11% year over year and sports consumer volume increased 15% year over year. Customer acquisition grew nearly 75% year over year, monthly unique payers grew 9% year over year, and adjusted G&A expense declined 6% year over year. For the full year 2026, the company maintained revenue guidance of $6.5 billion to $6.9 billion and adjusted EBITDA guidance of $700 million to $900 million, and reiterated that the core business is on track to generate approximately $1 billion of adjusted EBITDA in 2026.
Jason Robins framed the quarter as a broad execution win, saying the core business is growing, producing significant free cash flow, and that Predictions is growing faster than expected. He emphasized the Super App strategy, nationwide customer acquisition in states without regulated Sportsbook, and the view that Predictions is incremental rather than cannibalistic. His tone was confident and assertive, repeatedly saying the company is “on offense” and building to lead, not just participate.
Alan Ellingson highlighted $115 million of adjusted EBITDA in Q2 and said results would have been higher absent customer-friendly sport outcomes and stronger-than-expected customer acquisition. He pointed to 6% year-over-year declines in adjusted G&A and improvement in adjusted operating expenses excluding external marketing and Predictions, while noting disciplined cost management. On capital allocation, he said the company remains disciplined, has increasing flexibility as the balance sheet strengthens, and will evaluate opportunities to optimize its capital structure while maintaining prudent leverage.
Analysts focused on whether prediction markets could cannibalize Sportsbook and whether DraftKings could route volume through its own exchange. Management said overlap with the largest prediction market operator in Sportsbook states is only about 1%, that most volume there appears to come from professional betting syndicates and institutional traders, and that DraftKings sees minimal if any cannibalization. Questions also centered on promotional spending and the $200 million to $300 million Predictions investment target; Robins said DraftKings will stay data-driven, may invest more if returns justify it, but is not planning to go beyond that range based on current data. On the exchange and vertical integration, he said DraftKings plans to migrate as much volume in-house as reasonably possible, but customer experience comes first.
The call suggested strong momentum in both the core business and Predictions, with favorable customer acquisition costs, rising engagement, and early retention resembling Sportsbook customers. Management also sounded confident that Predictions can become a large, incremental business because DraftKings controls the brokerage, exchange, and market-making stack and sees little cannibalization.
Management acknowledged that Q2 margins were affected by customer-friendly outcomes and that Predictions still has regulatory uncertainty and an evolving monetization model. They also noted that the business is still learning, that the company is not leaning in as hard as it would in a new state launch, and that unit economics depend on how quickly volume can be migrated in-house and how the market develops.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 96.0%
- Shares Outstanding
- 496.13M
- Float Shares
- 476.53M
of shares held by institutions
768 13F filers
Buy/sell ratio 0.50. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for DKNG, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Chuck FleischmannHouse · TN03 | Sell | Apr 10, 23 | Filing → |
| Chuck FleischmannHouse · TN03 | Buy | Jan 19, 22 | Filing → |
| Chuck FleischmannHouse · TN03 | Sell | Nov 19, 21 | Filing → |
| Chuck FleischmannHouse · TN03 | Buy | Aug 6, 21 | Filing → |
| Chuck FleischmannHouse · TN03 | Buy | Aug 6, 21 | Filing → |
| Alan LowenthalHouse · CA47 | Buy | Jan 21, 20 | Filing → |
| Alan LowenthalHouse · CA47 | Buy | Feb 3, 20 | Filing → |
| Marjorie Taylor GreeneHouse · GA14 | Buy | Jan 21, 21 | Filing → |
| Alan LowenthalHouse · CA47 | Sell | Jan 19, 21 | Filing → |
| Alan LowenthalHouse · CA47 | Sell | Jun 3, 20 | Filing → |
| Alan LowenthalHouse · CA47 | Sell | Jun 3, 20 | Filing → |
| Alan LowenthalHouse · CA47 | Sell | May 26, 20 | Filing → |
| Alan LowenthalHouse · CA47 | Sell | May 26, 20 | Filing → |
| Alan LowenthalHouse · CA47 | Sell | May 26, 20 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 44.76M | ▲ 1.35M |
| Cibc Bancorp Usa Inc. | 37.32M | ▲ 25.08M |
| Aqr Capital Management LLC | 29.67M | ▲ 6.82M |
| Janus Henderson Group Ltd. | 27.67M | ▲ 2.35M |
| Jupiter Topco LLC | 25.27M | ▲ 25.27M |
| Capital World Investors | 24.80M | ▲ 86.35K |
| Blackrock, Inc. | 22.96M | ▼ 3.64M |
| Vanguard Capital Management LLC | 21.57M | ▲ 254.32K |
| Vanguard Portfolio Management LLC | 19.19M | ▲ 600.29K |
| Norges Bank | 11.85M | ▲ 11.85M |
| Spruce House Investment Management LLC | 9.65M | 0 |
| Geode Capital Management, LLC | 9.52M | ▼ 186.99K |
Held by 509 ETFs
Biggest fund positions in DKNG by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Oct 1, 26 | Dodge R Stanton | other | 1,476 |
| Oct 1, 26 | Dodge R Stanton | other | 646 |
| Oct 1, 26 | Dodge R Stanton | other | 1,476 |
| Sep 11, 26 | Robins Jason | other | 0 |
| Sep 2, 26 | Kalish Matthew | other | 864,880 |
| Sep 2, 26 | Kalish Matthew | other | 875,000 |
| Sep 1, 26 | Ellingson Alan Wayne | other | 19,920 |
| Sep 1, 26 | Ellingson Alan Wayne | other | 19,920 |
| Sep 1, 26 | Ellingson Alan Wayne | other | 9,632 |
| Sep 1, 26 | Ellingson Alan Wayne | other | 5,300 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our DKNG coverage
Recent articles, reports, and earnings notes.

DraftKings (DKNG): Predictions Growth Meets Execution Risk
DraftKings is evolving into a scalable digital gaming platform, with Sportsbook, iGaming, and Predictions driving engagement. The stock looks attractive on growth, but execution, regulation, and valuation still matter.

DraftKings Inc. (DKNG) drops 7.4% on regulatory fears
DraftKings Inc. (DKNG) drops sharply as investors react to sector-wide regulatory pressure, including Brazil’s online betting ban and a U.S. court setback for prediction markets. The move comes on heavy volume and appears tied to legal risk, not a new earnings miss, leaving the stock vulnerable but still supported by growth ambitions.

Sports Betting Stocks to Own in July 2026: 7 Names with Real Setup
Seven U.S.-listed sports betting stocks ranked by investment quality, balancing digital growth, profitability, valuation, earnings execution and direct wagering exposure.
Want a deeper read on DKNG?
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Is It Too Late to Buy DraftKings Inc (DKNG) After 5.4% Rally? GF Value Says Undervalued
gurufocus.com · Oct 5
DraftKings Stock Jumps After Bank of America Says It's Time to Buy the Stock
investopedia.com · Oct 5
DraftKings upgraded to 'Buy' by BofA on prediction market opportunity
proactiveinvestors.com · Oct 5
DraftKings Stock Pops on BofA Upgrade. Prediction Markets Could Be a ‘Win-Win.
barrons.com · Oct 5
Why Is DraftKings Stock Surging Monday?
benzinga.com · Oct 5
DraftKings (NASDAQ:DKNG) Shares Up 7.8% on Analyst Upgrade
defenseworld.net · Oct 5
Monday's First Moves: CHRW & RXO Merger, PTC Acquisition, DKNG Upgrade
youtube.com · Oct 5
DraftKings Stock Eyes Rebound After Bull Note
schaeffersresearch.com · Oct 5
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
AI analysis · Last refreshed September 29, 2026 · Live quote · Not investment advice