JPMorgan Chase & Co. Cuts DraftKings (NASDAQ:DKNG) Price Target to $31.00

DraftKings (NASDAQ:DKNG) had its price objective trimmed by JPMorgan Chase & Co. from $32.00 to $31.00 in a report published on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts also recently weighed in on DKNG. Citigroup dropped their target price on shares of DraftKings from $32.00 to $29.00 and set a “buy” rating for the company in a report on Thursday. Truist Financial decreased their price target on DraftKings from $45.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Zacks Research downgraded DraftKings from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. Northland Securities set a $24.00 price objective on DraftKings in a research note on Tuesday, February 17th. Finally, Bank of America cut their target price on DraftKings from $37.50 to $30.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Twenty-five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.94.

DraftKings Stock Performance

Shares of NASDAQ DKNG opened at $22.82 on Thursday. The stock has a market cap of $11.31 billion, a PE ratio of -570.50, a price-to-earnings-growth ratio of 0.95 and a beta of 1.68. DraftKings has a 1 year low of $20.46 and a 1 year high of $48.78. The firm has a fifty day moving average price of $23.63 and a 200-day moving average price of $29.45. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.03 and a quick ratio of 1.03.

Insider Activity at DraftKings

In other DraftKings news, Director Jocelyn Moore sold 2,150 shares of DraftKings stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $25.60, for a total value of $55,040.00. Following the sale, the director owned 1,406 shares of the company’s stock, valued at $35,993.60. The trade was a 60.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider R Stanton Dodge sold 52,777 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $32.01, for a total value of $1,689,391.77. Following the sale, the insider directly owned 500,000 shares in the company, valued at $16,005,000. This trade represents a 9.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 549,495 shares of company stock valued at $14,166,700 in the last 90 days. 47.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DraftKings

Several large investors have recently bought and sold shares of the business. Dagco Inc. purchased a new position in shares of DraftKings in the 4th quarter worth $26,000. Ameriflex Group Inc. grew its position in DraftKings by 100.0% in the third quarter. Ameriflex Group Inc. now owns 810 shares of the company’s stock worth $30,000 after acquiring an additional 405 shares in the last quarter. Root Financial Partners LLC bought a new stake in DraftKings during the third quarter worth approximately $33,000. Asset Dedication LLC bought a new stake in DraftKings during the third quarter worth approximately $37,000. Finally, AlphaQuest LLC purchased a new stake in DraftKings during the third quarter valued at approximately $41,000. Institutional investors own 37.70% of the company’s stock.

Key DraftKings News

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Barclays issued a buy on DraftKings, supporting demand for the shares and signaling conviction from a major bank. DraftKings (DKNG) Receives a Buy from Barclays
• Positive Sentiment: DraftKings announced intent to launch its online sportsbook and casino in Alberta pending approval (target universal launch July 13, 2026), expanding its Canadian footprint and potential revenue base. DraftKings Announces Intent to Launch Online Sportsbook and Casino in Alberta, Canada
• Positive Sentiment: Jefferies reiterated its buy rating on DraftKings, providing another vote of confidence that may limit downside. Jefferies Sticks to Its Buy Rating for DraftKings (DKNG)
• Neutral Sentiment: JPMorgan trimmed its price target slightly (from $32 to $31) but kept an overweight rating — a modest signal that adjusts expectations without a rating downgrade. JPMorgan Cuts DraftKings Target to $31 (Benzinga)
• Neutral Sentiment: Media pieces (Zacks, Yahoo) note increased investor attention and discussion about the company’s outlook; heightened searches can boost volatility but aren’t directional by themselves. Investors Heavily Search DraftKings Inc. (DKNG): Here is What You Need to Know
• Negative Sentiment: Citi trimmed its price target to $29 (from $32) ahead of Q1 results, raising concerns about momentum heading into the May 7 earnings report. Analyst downgrades/target cuts are pressuring sentiment. Citi Trims DraftKings’ Target to $29 Ahead of Q1
• Negative Sentiment: Coverage highlights that DKNG shares have fallen ~27% over three months amid rising costs related to the Predictions product, slower handle growth and normalizing customer adds — fundamental worries that likely explain selling pressure. DraftKings Stock Dips 27% in 3 Months: Should You Hold or Fold?
• Negative Sentiment: Higher leverage (debt-to-equity ~2.9), a negative P/E and the stock trading below its 200-day moving average amplify downside risk if near-term results disappoint. (No direct link)

DraftKings Company Profile

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.