What Do Analysts Predict for DKNG?

This afternoon we watched DraftKings rise 8.0% to a price of $42.03 per share. The Large-Cap Leisure company is now trading -19.48% below its average target price of $52.2. Analysts have set target prices ranging from $35.0 to $89.0 per share for DraftKings, and have given the stock an average rating of buy.

The stock has an average amount of shares sold short at 3.6%, and a short ratio of 1.71. The company's insiders own 2.5% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 72.4% of DraftKings's shares being owned by this investor type.

Institutions Invested in DraftKings

Date Reported Holder Percentage Shares Value
2024-03-31 Vanguard Group Inc 8% 40,011,855 $1,681,698,216
2024-03-31 Wellington Management Group, LLP 5% 23,127,125 $972,033,035
2024-03-31 Blackrock Inc. 4% 21,331,517 $896,563,633
2024-03-31 ARK Investment Management, LLC 2% 8,714,379 $366,265,338
2024-03-31 State Street Corporation 2% 8,702,434 $365,763,290
2024-03-31 Sumitomo Mitsui Trust Holdings, Inc. 2% 7,660,563 $321,973,453
2024-03-31 Geode Capital Management, LLC 2% 7,329,741 $308,069,005
2024-03-31 Morgan Stanley 1% 7,110,845 $298,868,806
2024-03-31 Invesco Ltd. 1% 6,975,735 $293,190,133
2024-03-31 Nikko Asset Management Americas, Inc. 1% 6,735,515 $283,093,687

Besides an analyst consensus of some upside potential, other market factors point to there being positive market sentiment on DraftKings.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.