How to Buy Draftkings Stock
Draftkings Inc
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.
Draftkings stock last closed at $40.55, down 0.32% from the previous day, and has increased 89.4% in one year. It has overperformed other stocks in the Gambling industry by 0.76 percentage points. Draftkings stock is currently +100.15% from its 52-week low of $20.26, and -18.2% from its 52-week high of $49.57.
At the moment, there are 473.62M shares of DKNG outstanding. The market value of DKNG is $19.21B. In the past 24 hours, 8.17M DKNG shares were traded.
How to Buy Draftkings Stock
Wondering how to invest in Draftkings stock? Here's how.
- Decide where to buy Draftkings stock: You need to decide on a stock brokerage, but don't worry - we've researched dozens of stock brokerages and apps to help you determine where to buy Draftkings stock.
- Create your brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've selected.
- Deposit money your investment account: Choose your payment method and add your details.
- Research Draftkings stock: The Draftkings ticker symbol is DKNG. Is Draftkings stock a good investment? Should you buy shares of DKNG? How do DKNG's underlying business fundamentals look? Do top analysts think Draftkings is a good buy? Why has DKNG's stock price moved recently? (Hint: Our stock market research tools can help you evaluate if DKNG is a good stock to buy).
- Make your DKNG purchase: Decide if you will purchase DKNG shares at the current market price or use a limit order to buy DKNG shares at a particular price.
- Keep an eye on your DKNG investment: Create a watchlist to watch your position in Draftkings shares.
Step 1: Decide where to buy Draftkings stock
You will need a brokerage account to access the NASDAQ market and buy DKNG stock.
Our preferred brokerage: eToro
We believe that eToro is the best online stock brokerage. eToro gives you:
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- Buy fractional shares: Even if you don't have the money to buy a full share, you can still purchase the stock.
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- Social investing: eToro boasts a community of more than 20 million users globally. Talk to, learn from, and copy the crypto trades of top investors.
- Security: eToro is a regulated and licensed fintech leader.
- Buy other assets: Such as ETFs and cryptos.
Get $10 towards your share purchase by creating an account with eToro now.
Open eToro AccountStep 2: Create your brokerage account
Now that you've chosen the right brokerage, it's time to fill out some personal information so you are able to buy DKNG stock today.
How to Create a New Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Provide your personal data to start a new trading account.
- Submit your details by pressing the "Create Account" button. Get started with eToro today
Step 3: Deposit money your investment account
Now that you've filled out your info on the best stock trading app, you need to deposit funds:
Watch this video walkthrough if you need help depositing funds into your new investment account.
Step 4: Research Draftkings stock
Once you have decided on the best place to buy Draftkings stock, it's important to research their stock before you buy, so you actually comprehend the risk as well as the upside.
Draftkings stock data
Draftkings Due Diligence Checks
WallStreetZen was built to help everyday investors perform more in-depth fundamental analysis in less time.
You can view all of the due diligence checks on DKNG's stock page.
Is DKNG stock undervalued or overvalued?
You can use a variety of different financial metrics, analyses, models, and charts to gauge DKNG's true value.
Using relative valuations measures:
- DKNG may be overvalued based on its P/B ratio of 22.86x, relative to Gambling industry P/B ratio of 5.15x
You can do more valuation analysis on DKNG's stock here.
DKNG Financial Summary
Positive Health Checks:
- DKNG has cash burn of 103031000. It has sufficient cash and short-term investments to cover this for at least one year.
- There are more short-term assets than short-term liabilities on the DKNG balance sheet.
- DKNG profit margin has gone up from -61.5% to -21.9% in the past year.
- DKNG has $1.62B in cash and short term investments. This is enough to cover its annual cash burn of $103.03M.
- Total DKNG debt is lower than 5 years ago, relative to shareholder equity.
- There are more short-term assets than long-term liabilities on the DKNG balance sheet.
Negative Health Checks:
- DKNG has a relatively high debt to equity ratio of 3.7.
Do analysts think it's a good time to buy Draftkings stock
Out of 21 Equities analysts who give recommendations on DKNG, the consensus analyst rating on DKNG is a Strong Buy
Please note that analyst forecasts are not recommendations, nor are they investment advice.
Latest DKNG Analyst Recommendations
Bernie McTernan, a bottom 1% analyst from Needham maintains DKNG with a buy rating and raises their DKNG price target from $54.00 to $58.00, on Mar 27, 2024.
Joseph Stauff, a top 5% analyst from Susquehanna maintains DKNG with a strong buy rating and raises their DKNG price target from $51.00 to $54.00, on Mar 26, 2024.
Susquehanna's Joseph Stauff raised their price target on Draftkings (NASDAQ: DKNG) by 5.9% from $51 to $54 on 2024/03/26. The analyst maintained their Strong Buy rating on the stock.
QTD channel checks provided state data that indicate that Susquehanna's "Q1 2024 revenue and EBITDA estimates for Draftkings look conservative," Stauff said.
They now see "a long-term EBITDA margin profile that is incrementally de-risked, creating potential upside," the analyst detailed.
Ben Chaiken, a bottom 13% analyst from Mizuho initiates coverage on DKNG with a strong buy rating and announces their DKNG price target of $58.00, on Mar 26, 2024.
Jordan Bender, a top 21% analyst from JMP Securities reiterates DKNG with a buy rating and maintains their DKNG price target from $52.00 to $52.00, on Mar 25, 2024.
Robin M. Farley, a top 6% analyst from UBS maintains DKNG with a strong buy rating and raises their DKNG price target from $44.00 to $56.00, on Mar 5, 2024.
You can dig deeper into what analysts are saying on the Draftkings stock forecast page.
DKNG Momentum
DKNG Performance Metrics
Last year, DKNG revenue was $3.67B. Over the last five year, DKNG's revenue has gone up by 74.54% per year. This was faster than the Gambling industry average of 30.4%.
You can analyze DKNG's earnings and revenue performance here.
Latest Insiders Trades at DKNG
In the past year, insiders at DKNG have sold more shares than they have bought.
R. Stanton Dodge, Chief Legal Officer of DKNG, was the latest DKNG insider to sell. They sold $16,852.50 worth of DKNG stock on Apr 1, 2024.
Get more info about who owns DKNG shares here.
Does DKNG stock generate passive income?
No, Draftkings doesn't provide an income stream by paying out dividends.
DKNG Social Trading Data
One of the biggest reasons eToro is our favorite brokerage is because of its social trading community.
Click below to find out what other investors have to say.
Step 5: Make your DKNG purchase
There are two primary types of orders:
- Market order: A market order is an order to buy or sell a security at the best available price.
Market orders are generally the best for newer investors. - Limit order: A limit order allows you to buy or sell a security at a specific price (or better).
If you want to make sure you're buying or selling at a particular price, use a limit order.
Hit the Open button and your broker will place your order.
If you require additional assistance buying stocks on eToro, watch the how to video below:
Step 6: Keep an eye on your DKNG investment
Now that you own some DKNG stock, you'll want to stay up-to-date on your stock purchase.
Make a watchlist to get notified of important updates regarding your DKNG stock.
DKNG Feed
How to Buy Stock in Draftkings
To summarize, here are the 6 steps you need to take to buy Draftkings stock right now:
- Decide where to buy Draftkings stock
- Create your brokerage account
- Deposit money your investment account
- Research Draftkings stock
- Make your DKNG purchase
- Keep an eye on your DKNG investment
If you need a brokerage, eToro is our recommended option.
Get Started with eToro TodayIf you would like to monitor your new investment in Draftkings, hit the button below to create your watchlist.
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