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

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

Other equities research analysts have also issued reports about the company. Morgan Stanley lowered their price objective on DraftKings from $39.00 to $36.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. Northland Securities set a $28.00 target price on shares of DraftKings in a research report on Monday, August 10th. Wolfe Research started coverage on shares of DraftKings in a research report on Wednesday, September 2nd. They issued an “outperform” rating and a $40.00 price target on the stock. Barclays decreased their price objective on shares of DraftKings from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Monday, August 10th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.14.

DraftKings Stock Down 3.0%

DKNG opened at $19.00 on Thursday. The company has a market capitalization of $9.43 billion, a P/E ratio of -50.00, a P/E/G ratio of 1.98 and a beta of 1.63. 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 firm’s fifty day moving average price is $23.72 and its two-hundred day moving average price is $24.33. DraftKings has a fifty-two week low of $18.95 and a fifty-two week high of $38.06.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data 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 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 business’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 EPS. On average, analysts anticipate that DraftKings will post 0.4 EPS for the current year.

Insider Buying and Selling

In other DraftKings news, Director Jocelyn Moore sold 10,759 shares of the stock in a transaction dated 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 47.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DraftKings

A number of large investors have recently modified their holdings of the stock. QRG Capital Management Inc. raised its position in DraftKings by 30.6% in the 2nd quarter. QRG Capital Management Inc. now owns 65,476 shares of the company’s stock worth $1,654,000 after purchasing an additional 15,358 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in DraftKings by 9.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 13,744 shares of the company’s stock valued at $347,000 after buying an additional 1,139 shares during the last quarter. RFG Advisory LLC increased its stake in shares of DraftKings by 14.2% in the 2nd quarter. RFG Advisory LLC now owns 47,834 shares of the company’s stock valued at $1,208,000 after buying an additional 5,930 shares during the period. NewEdge Advisors LLC increased its stake in shares of DraftKings by 50.4% in the 2nd quarter. NewEdge Advisors LLC now owns 45,486 shares of the company’s stock valued at $1,149,000 after buying an additional 15,238 shares during the period. Finally, IFP Advisors Inc raised its position in shares of DraftKings by 26.8% during the second quarter. IFP Advisors Inc now owns 13,027 shares of the company’s stock worth $329,000 after acquiring an additional 2,750 shares during the last quarter. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about DraftKings

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.