DraftKings (NASDAQ:DKNG) Price Target Lowered to $32.00 at Citigroup

DraftKings (NASDAQ:DKNG) had its target price dropped by Citigroup from $48.00 to $32.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 43.70% from the company’s previous close.

DKNG has been the subject of a number of other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of DraftKings in a research note on Wednesday, January 21st. Rothschild & Co Redburn set a $35.00 target price on DraftKings in a research report on Friday, January 30th. Stifel Nicolaus set a $40.00 target price on DraftKings and gave the company a “buy” rating in a research note on Tuesday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $42.00 price target on shares of DraftKings in a research note on Friday. Finally, Zacks Research raised DraftKings from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Twenty-four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.72.

DraftKings Trading Up 2.3%

NASDAQ DKNG traded up $0.51 during trading on Tuesday, hitting $22.27. The company had a trading volume of 9,023,043 shares, compared to its average volume of 16,291,329. The company’s fifty day moving average is $31.94 and its 200-day moving average is $35.97. DraftKings has a one year low of $21.01 and a one year high of $53.50. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 2.51. The company has a market cap of $11.08 billion, a price-to-earnings ratio of -558.88, a price-to-earnings-growth ratio of 0.43 and a beta of 1.67.

Insider Buying and Selling at DraftKings

In other news, insider R Stanton Dodge sold 52,777 shares of DraftKings stock in a transaction dated 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 completion of the transaction, the insider owned 500,000 shares of the company’s stock, valued at $16,005,000. The trade was a 9.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 47.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Dagco Inc. bought a new position in DraftKings in the fourth quarter worth approximately $26,000. Ameriflex Group Inc. increased its stake in shares of DraftKings by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 810 shares of the company’s stock worth $30,000 after purchasing an additional 405 shares in the last quarter. Root Financial Partners LLC bought a new position in DraftKings in the 3rd quarter worth $33,000. Asset Dedication LLC purchased a new position in DraftKings during the third quarter valued at $37,000. Finally, Montag A & Associates Inc. lifted its position in DraftKings by 82.5% during the fourth quarter. Montag A & Associates Inc. now owns 1,106 shares of the company’s stock valued at $38,000 after purchasing an additional 500 shares in the last quarter. 37.70% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: CEO commentary highlights AI optimization and opportunities from prediction markets, which management says will enhance user experience and future monetization — a fundamental upside catalyst if execution continues. DraftKings CEO on Sports Betting Uptick, Using AI & Prediction Markets
• Neutral Sentiment: Zacks flags DKNG as a trending stock, increasing attention but not providing new fundamental data — could boost short‑term interest/volume without changing fundamentals. Zacks Trending Stock Article
• Neutral Sentiment: Short‑interest report in the feed appears internally inconsistent (reports 0 shares / NaN change), so no reliable signal on investor positioning from that item; treat as data noise.
• Negative Sentiment: Needham cut its price target from $52 to $35 but kept a “buy” rating — a sizable reduction that likely weighs on sentiment and near‑term stock direction. Needham Price Target Cut
• Negative Sentiment: Oppenheimer lowered its target from $50 to $35 while maintaining an “outperform” rating — another substantial trim that adds selling pressure despite the still‑bullish stance. Benzinga on Oppenheimer Cut The Fly on Oppenheimer Cut
• Negative Sentiment: Mizuho trimmed its target from $46 to $44 but kept an “outperform” view — a modest cut that still contributes to the overall down‑shift in analyst expectations. Mizuho Price Target Cut
• Negative Sentiment: Seeking Alpha analysis: Q4 results were record, but 2026 guidance is conservative and shows slowing revenue growth — this guidance is a key reason analysts pared targets and likely the biggest near‑term negative fundamental signal. Seeking Alpha Coverage

About DraftKings

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.