DraftKings (NASDAQ:DKNG) Price Target Cut to $30.00 by Analysts at JPMorgan Chase & Co.

DraftKings (NASDAQ:DKNG) had its target price cut by investment analysts at JPMorgan Chase & Co. from $33.00 to $30.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 48.99% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Susquehanna dropped their price objective on shares of DraftKings from $33.00 to $27.00 and set a “positive” rating for the company in a report on Thursday, October 8th. UBS Group reduced their target price on DraftKings from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, September 18th. Citizens Jmp reduced their target price on DraftKings from $37.00 to $35.00 and set a “market outperform” rating on the stock in a report on Thursday, September 24th. Citigroup decreased their target price on DraftKings from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Finally, TD Cowen increased their price target on DraftKings from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $33.39.

DraftKings Price Performance

DKNG traded up $0.36 during trading on Tuesday, hitting $20.14. 5,840,790 shares of the company traded hands, compared to its average volume of 13,557,079. The company has a market cap of $10.00 billion, a PE ratio of -52.99, a P/E/G ratio of 1.91 and a beta of 1.61. The stock’s 50-day simple moving average is $22.65 and its two-hundred day simple moving average is $23.97. DraftKings has a 1 year low of $18.35 and a 1 year high of $36.98. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.22.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.51 billion. DraftKings had a negative net margin of 2.68% and a negative return on equity of 11.26%. DraftKings’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 EPS. As a group, sell-side analysts anticipate that DraftKings will post 0.40 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jocelyn Moore sold 10,759 shares of the company’s 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 sale, the director 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 document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 47.18% of the company’s stock.

Hedge Funds Weigh In On DraftKings

Several institutional investors have recently bought and sold shares of the business. Net Worth Advisory Group bought a new stake in shares of DraftKings in the 3rd quarter worth about $279,000. Secure Asset Management LLC purchased a new stake in shares of DraftKings during the 3rd quarter valued at about $4,224,000. SteelPeak Wealth LLC bought a new position in shares of DraftKings in the 3rd quarter valued at about $344,000. Vontobel Holding Ltd. lifted its holdings in shares of DraftKings by 81.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 34,988 shares of the company’s stock valued at $665,000 after acquiring an additional 15,727 shares during the last quarter. Finally, Elevated Private Wealth LLC grew its position in DraftKings by 13.2% in the third quarter. Elevated Private Wealth LLC now owns 63,477 shares of the company’s stock worth $1,206,000 after acquiring an additional 7,382 shares in the last quarter. Institutional investors own 37.70% of the company’s stock.

More DraftKings News

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Truist Financial lowered its DraftKings price target from $29 to $26 but maintained a Buy rating. The revised target still implies approximately 29% upside, signaling continued confidence in the company’s longer-term prospects. Benzinga analyst rating update
• Positive Sentiment: DraftKings recently rebounded after Wells Fargo raised its price target, while technical buying emerged near the stock’s 52-week low. This combination has helped improve near-term investor sentiment. Why Is DraftKings Stock Surging on Monday?
• Positive Sentiment: Although Morgan Stanley reduced its price target, the firm reportedly still sees substantial upside—approximately 57%—from current levels. The continued bullish outlook may be supporting the stock despite more cautious valuation assumptions. Morgan Stanley Cut Its DraftKings Target
• Neutral Sentiment: CEO and co-founder Jason Robins is scheduled to participate in a fireside chat at the NEXTPredict 2026 Summit on October 22. The event could provide commentary on DraftKings’ strategy, technology and growth opportunities, but no new financial guidance was announced. DraftKings Announces Jason Robins’ Participation at NEXTPredict 2026
• Negative Sentiment: DraftKings remains under pressure from broader concerns affecting online gambling, contributing to its recent decline toward 52-week lows. The stock also remains below its 50-day and 200-day moving averages, indicating persistent technical weakness. Why IREN, CIFR, DKNG Stocks Crashed to 52-Week Lows Last Week

About DraftKings

DraftKings Inc is a digital sports entertainment and gaming company that operates online and mobile platforms for sports betting, casino gaming and daily fantasy sports. Its offerings include the DraftKings Sportsbook, DraftKings Casino and daily fantasy contests covering a range of professional and collegiate sports.

The company also provides related entertainment and media content through DraftKings Network, along with free-to-play games, promotions and other interactive products designed to complement its sports and gaming platforms.