Sports betting and online gaming giant DraftKings Inc (NASDAQ:DKNG) looks to turn things around when the company reports second-quarter financial results Thursday after market close.
Here are the earnings estimates, analyst ratings and key items to watch.
DraftKings Q2 Earnings Estimates
Analysts expect DraftKings to report second-quarter revenue of $1.52 billion, up from $1.51 billion in last year’s second quarter, according to data from Benzinga Pro.
The company beat analyst estimates for revenue in two straight quarters, but only in four of the last 10 quarters overall.
Analysts expect DraftKings to report earnings of 2 cents per share for the second quarter, down from 38 cents per share in last year’s second quarter.
The company has beaten analyst estimates for earnings per share in four straight quarters and in nine of the last 10 quarters overall.
DraftKings Analyst Ratings and Price Targets
Analysts have been mixed on DraftKings stock ahead of the latest earnings report. There have been several price target cuts and several price target raises. Here are some of the latest analyst ratings on DraftKings stock.
- Stifel: Maintained Buy rating, lowered price target from $40 to $38
- Truist Securities: Maintained Buy rating, lowered price target from $30 to $29
- Wells Fargo: Maintained Overweight rating, lowered price target from $32 to $29
- JPMorgan: Maintained Overweight rating, raised price target from $31 to $34
- TD Cowen: Maintained Buy rating, raised price target from $30 to $35
- Deutsche Bank: Maintained Hold rating, raised price target from $26 to $28
Key Items to Watch
As with past earnings reports and conference calls for DraftKings, the focus could be on prediction markets from the company and from competitors.
Alongside Kalshi and Polymarket growing volumes for prediction markets, other public companies are also reporting strong growth in the recent quarter.
This includes Robinhood Markets (NASDAQ:HOOD) reported that event contracts revenue was $156 million in the most recently reported quarter, up over 10x year-over-year.
Coinbase Global (NASDAQ:COIN) reported prediction markets revenue up 106% quarter-over-quarter in the second quarter, with the NBA and World Cup highlighted as seeing strong customer demand.
Investors and analysts may also inquire about DraftKings’ own prediction product. DKeX, which has prediction markets integrated into the sportsbook and casino app, may help with usage in the recent and coming quarters.
DraftKings previously said its Prediction segment saw a surge of usage during the World Cup with Predictions seeing a 3x in first-time customers during the first week alone.
Along with predictions, company guidance will be the other key area to watch.
The company previously reaffirmed its full-year revenue guidance after first-quarter results, which was a double beat. Without raising guidance, this may have signaled some weakness ahead.
If the company posts another double beat and doesn’t raise guidance, the stock could see a negative reaction.
Price Action
DraftKings stock is down 8.2% to $21.68 on Wednesday versus a 52-week trading range of $20.46 to $48.78. The company’s stock price is down 39.2% year-to-date in 2026, nearing three-year lows of $20.46.
Photo: Lori-Butcher / Shutterstock
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