DraftKings (NASDAQ:DKNG) Stock Price Target Cut by BTIG Research

DraftKings (NASDAQ:DKNG) had its price target reduced by equities researchers at BTIG Research from $30.00 to $25.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s target price would indicate a potential upside of 31.58% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of DraftKings from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Thursday, July 9th. TD Cowen lifted their price objective on DraftKings from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Weiss Ratings lowered DraftKings from a “sell (d)” rating to a “sell (e+)” rating in a research report on Friday, August 21st. Citizens Jmp cut their price target on 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, Needham & Company LLC reiterated a “buy” rating and set a $35.00 price target on shares of DraftKings in a report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.14.

DraftKings Price Performance

Shares of DKNG opened at $19.00 on Thursday. The business’s 50-day moving average is $23.72 and its 200-day moving average is $24.33. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $9.43 billion, a price-to-earnings ratio of -50.00, a P/E/G ratio of 1.98 and a beta of 1.63. DraftKings has a fifty-two week low of $18.95 and a fifty-two week high of $38.06.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.02 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.51 billion. DraftKings had a negative net margin of 2.68% and a negative return on equity of 11.26%. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period last year, the company posted $0.30 earnings per share. Equities research analysts expect that DraftKings will post 0.4 EPS for the current fiscal year.

Insider Buying and Selling

In other DraftKings news, Director Jocelyn Moore sold 10,759 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $24.05, for a total transaction of $258,753.95. Following the transaction, the director directly owned 1,881 shares of the company’s stock, valued at $45,238.05. This represents a 85.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 47.18% of the stock is owned by insiders.

Institutional Trading of DraftKings

A number of institutional investors and hedge funds have recently made changes to their positions in DKNG. CoreCap Advisors LLC boosted its position in DraftKings by 336.5% during the second quarter. CoreCap Advisors LLC now owns 1,148 shares of the company’s stock worth $29,000 after purchasing an additional 885 shares during the period. SHP Wealth Management bought a new position in DraftKings in the 4th quarter worth approximately $42,000. Basecamp Wealth Advisors LLC grew its stake in shares of DraftKings by 3,547.1% in the first quarter. Basecamp Wealth Advisors LLC now owns 1,240 shares of the company’s stock worth $27,000 after acquiring an additional 1,206 shares during the last quarter. Ascentis Independent Advisors acquired a new position in DraftKings during the 1st quarter valued at $27,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in DraftKings in the 4th quarter worth $69,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

DraftKings News Roundup

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: DraftKings is expanding beyond traditional online sports betting through its DKeX prediction-market platform, which reportedly ranked third in trading volume. Management has cited increasing market breadth and customer engagement ahead of football season. DraftKings DKeX prediction-market expansion
• Positive Sentiment: The company’s NHL deal with Amazon Prime provides additional brand exposure and may support customer acquisition, while some analysts continue to see substantial upside. The median price target cited by Quiver Quantitative is $31, well above the current trading level. DraftKings NHL on Prime deal and prediction-market concerns
• Neutral Sentiment: Wall Street’s consensus view remains broadly bullish, with reports describing DraftKings as a Buy. However, analysts’ optimistic targets may not fully reflect the risk that growth slows or prediction-market investments take longer to generate returns. DraftKings Wall Street bullish views
• Negative Sentiment: Competition from Kalshi is the primary overhang. Kalshi’s reported valuation—approaching $40 billion—has intensified concerns that DraftKings could lose investor attention, users, or market share in event contracts despite having an established sportsbook business. DraftKings and Kalshi valuation comparison
• Negative Sentiment: Investors are concerned that DraftKings may need substantial customer-acquisition, technology, and infrastructure spending to build prediction markets. Those investments could pressure near-term margins and delay profitability, particularly amid regulatory uncertainty surrounding event contracts. DraftKings prediction-market spending concerns
• Negative Sentiment: Recent selling has pushed DKNG to a new one-year low, while reported insider activity shows sales and no open-market purchases over the past six months. The sharp decline reflects reduced confidence in the near-term risk-reward profile, even though analysts continue to forecast longer-term upside. DraftKings reaches new one-year low

DraftKings Company Profile

DraftKings Inc is a digital sports entertainment and gaming company that provides online sports betting, daily fantasy sports and internet-based casino gaming. Its products are delivered through mobile applications and websites, allowing customers to wager on professional and collegiate sports, participate in fantasy contests and play a range of casino games where permitted by law.

The company also offers sports and betting-related content through DraftKings Network and operates additional gaming and entertainment products, including online lottery services in select markets.