DraftKings (NASDAQ:DKNG) Stock Gets Price Target Trim from Barclays

DraftKings (NASDAQ:DKNG) had its price target dropped by equities research analysts at Barclays from $34.00 to $27.00 in a report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 46.92% from the stock’s previous close.

DKNG has been the topic of a number of other research reports. Citigroup dropped their target price on shares of DraftKings from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Needham & Company LLC reduced their price target on shares of DraftKings from $30.00 to $25.00 and set a “buy” rating for the company in a report on Monday. Wall Street Zen downgraded shares of DraftKings from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Citizens Jmp decreased their price target on shares of DraftKings from $37.00 to $35.00 and set a “market outperform” rating for the company in a research note on Thursday, September 24th. Finally, Susquehanna reissued a “positive” rating and set a $23.00 price objective on shares of DraftKings in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.61.

DraftKings Trading Down 0.7%

DKNG traded down $0.13 during trading on Monday, hitting $18.38. The company’s stock had a trading volume of 5,100,668 shares, compared to its average volume of 13,726,860. The firm has a market capitalization of $9.12 billion, a P/E ratio of -23.01, a PEG ratio of 2.43 and a beta of 1.65. DraftKings has a twelve month low of $16.55 and a twelve month high of $36.98. The stock’s fifty day moving average price is $21.51 and its 200-day moving average price is $24.06. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.22.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.12). The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.39 billion. DraftKings had a negative return on equity of 36.21% and a negative net margin of 5.91%. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period last year, the business earned ($0.26) EPS. Analysts anticipate that DraftKings will post 0.31 EPS for the current year.

Insider Transactions at DraftKings

In related news, Director Jocelyn Moore sold 10,759 shares of DraftKings stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $24.05, for a total value of $258,753.95. Following the completion of the sale, the director owned 1,881 shares of the company’s stock, valued at approximately $45,238.05. This trade represents a 85.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 47.18% of the company’s stock.

Institutional Trading of DraftKings

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DKNG. Janus Henderson Group PLC lifted its holdings in shares of DraftKings by 9.3% in the first quarter. Janus Henderson Group PLC now owns 27,665,699 shares of the company’s stock valued at $588,288,000 after purchasing an additional 2,351,790 shares in the last quarter. Spruce House Investment Management LLC boosted its position in shares of DraftKings by 129.6% during the first quarter. Spruce House Investment Management LLC now owns 9,650,000 shares of the company’s stock valued at $208,633,000 after buying an additional 5,446,166 shares during the last quarter. Swiss National Bank grew its holdings in DraftKings by 7.4% during the first quarter. Swiss National Bank now owns 1,314,864 shares of the company’s stock worth $28,427,000 after buying an additional 90,400 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in DraftKings during the second quarter worth $24,014,000. Finally, Quantinno Capital Management LP grew its holdings in DraftKings by 273.9% during the first quarter. Quantinno Capital Management LP now owns 898,241 shares of the company’s stock worth $19,420,000 after buying an additional 658,006 shares in the last quarter. 37.70% of the stock is owned by institutional investors.

Trending Headlines about DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: BTIG maintained a Buy rating with a $23 target, while Truist kept Buy and Bernstein kept Outperform, despite each cutting its price target. The revised targets imply potential upside from the approximately $18.50 price cited in the reports. BTIG rating information
• Positive Sentiment: A report highlighted rising hopes for legalized sports betting in Texas, a potential longer-term growth opportunity for DraftKings, while scrutiny of prediction markets could also affect the competitive landscape. Article on Texas betting and prediction markets
• Neutral Sentiment: Sportsbook net revenue grew 36% year over year in Q3, but DraftKings expects to invest $650 million to $700 million in its prediction-market business in 2026, raising questions about the cost and payoff of that expansion. Article on DraftKings long-term takeaways
• Negative Sentiment: DraftKings reported worse-than-expected Q3 results and cut fiscal 2026 guidance. The news drove a reported 21% one-session decline and helped push shares to a 52-week low, reinforcing concerns about costs, business challenges and demand. Article on analyst forecasts after Q3 results
• Negative Sentiment: UBS, JPMorgan and Stifel downgraded the stock; JPMorgan moved from Overweight to Neutral, saying it is increasingly difficult to recommend. Several firms also cut targets—including Truist to $22, Bernstein to $22 and BTIG to $23—adding pressure even though the revised targets remain above the cited share price. Article on analyst downgrades

About DraftKings

DraftKings Inc is a digital sports and entertainment company founded in 2012. It began as a daily fantasy sports platform and has since expanded into online sports betting and gaming.

The company offers daily fantasy contests, a sportsbook and online casino products, including games such as slots and table games. Its services are available in a range of U.S. jurisdictions and in Ontario, Canada, where permitted by local regulations.

DraftKings is headquartered in Boston, Massachusetts.