DraftKings (NASDAQ:DKNG) Price Target Lowered to $32.00 at Sanford C. Bernstein

Posted by Tristan Rich on Feb 6th, 2026

DraftKings (NASDAQ:DKNG – Get Free Report) had its price target cut by investment analysts at Sanford C. Bernstein from $41.00 to $32.00 in a report issued on Friday. The brokerage currently has an “outperform” rating on the stock. Sanford C. Bernstein’s price objective would indicate a potential upside of 25.39% from the company’s current price.

Several other research firms have also recently issued reports on DKNG. Barclays decreased their price objective on DraftKings from $54.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, November 10th. Mizuho reduced their price target on DraftKings from $54.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, November 13th. Truist Financial lowered DraftKings from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. dropped their price target on shares of DraftKings from $51.00 to $42.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. Finally, Benchmark reiterated a “buy” rating on shares of DraftKings in a report on Monday, January 12th. Twenty-three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, DraftKings currently has a consensus rating of “Moderate Buy” and an average price target of $45.79.

View Our Latest Stock Report on DraftKings

DraftKings Price Performance

Shares of NASDAQ:DKNG opened at $25.52 on Friday. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.09 and a current ratio of 1.10. DraftKings has a one year low of $25.01 and a one year high of $53.61. The business’s fifty day moving average price is $33.22 and its two-hundred day moving average price is $37.03. The stock has a market cap of $12.70 billion, a PE ratio of -44.77, a price-to-earnings-growth ratio of 0.47 and a beta of 1.67.

DraftKings (NASDAQ:DKNG – Get Free Report) last posted its quarterly earnings data on Friday, November 7th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.40 billion. DraftKings had a negative return on equity of 22.84% and a negative net margin of 4.90%.The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.60) EPS. On average, analysts forecast that DraftKings will post 0.64 EPS for the current fiscal year.

Insider Activity at DraftKings

In related news, Director Gregory Westin Wendt acquired 10,000 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were purchased at an average price of $30.27 per share, for a total transaction of $302,700.00. Following the purchase, the director owned 10,000 shares in the company, valued at $302,700. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R Stanton Dodge sold 52,777 shares of the business’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $32.01, for a total value of $1,689,391.77. Following the completion of the transaction, the insider owned 500,000 shares in the company, valued at $16,005,000. This trade represents a 9.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 113,975 shares of company stock valued at $3,721,511. Company insiders own 51.19% of the company’s stock.

Hedge Funds Weigh In On DraftKings

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in DraftKings by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 44,758,204 shares of the company’s stock worth $1,542,368,000 after buying an additional 1,354,457 shares in the last quarter. Viking Global Investors LP bought a new stake in shares of DraftKings during the third quarter worth $561,125,000. AQR Capital Management LLC lifted its position in DraftKings by 63.5% during the 3rd quarter. AQR Capital Management LLC now owns 11,685,672 shares of the company’s stock valued at $437,044,000 after purchasing an additional 4,538,007 shares during the period. Geode Capital Management LLC raised its stake in shares of DraftKings by 5.4% during the second quarter. Geode Capital Management LLC now owns 9,014,088 shares of the company’s stock worth $385,552,000 after buying an additional 458,452 shares during the last quarter. Finally, Norges Bank acquired a new position in DraftKings in the second quarter valued at approximately $362,554,000. 37.70% of the stock is currently owned by institutional investors.

More DraftKings News

Here are the key news stories impacting DraftKings this week:

Positive Sentiment: Short-term volume tailwind from Super Bowl betting chatter helped shares briefly bounce. DraftKings stock rises amid Super Bowl betting buzz, prediction market controversy
Positive Sentiment: Corporate expansion: DraftKings leased office space in Raleigh as it grows foothold in newly regulated North Carolina — a long‑term growth signal. DraftKings leases office space in Raleigh as sports betting takes root in North Carolina
Neutral Sentiment: Analysts are mixed ahead of Q4: some firms remain constructive while others are trimming targets — creating uncertain near‑term sentiment into the release. Mixed Analyst Sentiment on DraftKings (DKNG) Ahead of Fourth-Quarter Results
Neutral Sentiment: Zacks flags that DraftKings lacks the key ingredients for a likely earnings beat next week — sets a cautious expectation baseline for investors. DraftKings (DKNG) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
Negative Sentiment: Truist cut DKNG to “Hold,” adding to a wave of downgrades that pressure sentiment and can trigger further selling. DraftKings (NASDAQ:DKNG) Cut to “Hold” at Truist Financial
Negative Sentiment: Canaccord lowered expectations for DraftKings’ stock price — another analyst shop trimming targets amid growth/margin concerns. Canaccord Genuity Group Has Lowered Expectations for DraftKings (NASDAQ:DKNG) Stock Price
Negative Sentiment: Short seller/third‑party reports warn of mounting competition from Kalshi’s prediction markets, raising fears of market share loss in prediction‑style betting products. DraftKings faces mounting competition from Kalshi prediction markets, says short seller
Negative Sentiment: Negative narratives piling up — articles highlight sluggish growth, margin pressure, bearish “sell” thesis pieces, and large investor selling (reportedly Cathie Wood sold ~$21M), which amplifies downside risk. DraftKings Faces Sluggish Growth And Margin Strain As Investors Reassess Nevada sues Coinbase … Cathie Wood sells $21 mil of DraftKings

DraftKings Company Profile

(Get Free Report)

DraftKings Inc is a leading digital sports entertainment and gaming company specializing in daily fantasy sports, sports betting and iGaming products. The company provides an integrated platform where users can participate in daily fantasy contests, place wagers on professional sports events, and enjoy a range of online casino-style games. DraftKings’ proprietary technology supports real-time odds, live scoring and advanced analytics to enhance the user experience across mobile and desktop applications.

Founded in 2012 by co-founders Jason Robins, Matthew Kalish and Paul Liberman, DraftKings began as a daily fantasy sports provider and rapidly expanded into regulated sports betting following legislative changes in the United States.