DraftKings Inc. (NASDAQ:DKNG) Stock Has Average Target Price of $34.14 According to Brokerages

DraftKings Inc. (NASDAQ:DKNG) has been given an average rating of “Moderate Buy” by the forty-one ratings firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $34.14.

DKNG has been the topic of a number of research analyst reports. Sanford C. Bernstein boosted their price target on DraftKings from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Thursday, September 3rd. Wall Street Zen lowered shares of DraftKings from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Wolfe Research began coverage on shares of DraftKings in a report on Wednesday, September 2nd. They issued an “outperform” rating and a $40.00 price target on the stock. Barclays dropped their price objective on shares of DraftKings from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Monday, August 10th. Finally, Citizens Jmp decreased their target price on DraftKings from $37.00 to $35.00 and set a “market outperform” rating on the stock in a research report on Thursday, September 24th.

Trending Headlines about DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: DraftKings is shifting Predictions activity to its DKeX exchange, which could allow the company to retain more fees, improve market liquidity, and increase higher-margin profit per customer through 2027. Can DKNG’s DKeX Rollout Lift Profit Per Customer Into 2027?
• Positive Sentiment: Analysts remain broadly constructive, with DraftKings carrying an average price target of $34.14. BTIG also maintained a “buy” rating, implying substantial upside despite reducing its target from $30 to $25. DraftKings Stock Has Average Price Target of $34.14
• Neutral Sentiment: DraftKings’ longer-term strategy is shifting from sports betting toward Predictions and other opportunities intended to support profitability. However, the stock’s elevated valuation leaves it vulnerable if growth slows. DraftKings’ 2026 Outlook
• Negative Sentiment: A New York Times investigation into DraftKings’ promotional targeting contributed to the recent selloff. DraftKings disputes the report, but the controversy has increased reputational and regulatory concerns. How Big Could DraftKings Stock’s Next Fall Be?
• Negative Sentiment: Investors are also concerned about intensified betting-industry competition and the possibility that DraftKings could experience another steep decline during a broader market shock. Why Did DKNG and Other Stocks Tumble to 52-Week Lows?

Insider Buying and Selling at DraftKings

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. Company insiders own 47.18% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC lifted its position in DraftKings by 50.8% in the fourth quarter. Janus Henderson Group PLC now owns 25,313,909 shares of the company’s stock worth $858,893,000 after buying an additional 8,524,923 shares during the last quarter. Capital World Investors lifted its holdings in shares of DraftKings by 181.4% in the 4th quarter. Capital World Investors now owns 18,626,429 shares of the company’s stock worth $641,867,000 after acquiring an additional 12,008,357 shares during the last quarter. Eminence Capital LP boosted its stake in shares of DraftKings by 34.3% during the 4th quarter. Eminence Capital LP now owns 8,426,755 shares of the company’s stock worth $290,386,000 after purchasing an additional 2,151,892 shares during the period. Capital Research Global Investors boosted its stake in shares of DraftKings by 55.9% during the 4th quarter. Capital Research Global Investors now owns 6,615,721 shares of the company’s stock worth $227,978,000 after purchasing an additional 2,372,520 shares during the period. Finally, Spruce House Investment Management LLC grew its holdings in DraftKings by 129.6% during the 1st quarter. Spruce House Investment Management LLC now owns 9,650,000 shares of the company’s stock valued at $208,633,000 after purchasing an additional 5,446,166 shares during the last quarter. Institutional investors own 37.70% of the company’s stock.

DraftKings Stock Performance

Shares of NASDAQ DKNG opened at $18.59 on Friday. DraftKings has a 12-month low of $18.52 and a 12-month high of $36.98. The firm has a market capitalization of $9.23 billion, a price-to-earnings ratio of -48.92, a price-to-earnings-growth ratio of 1.87 and a beta of 1.61. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.22. The firm has a 50 day moving average of $23.57 and a 200 day moving average of $24.24.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings results on Friday, August 7th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.07. The business 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%. The company’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. On average, research analysts anticipate that DraftKings will post 0.4 earnings per share for the current year.

About DraftKings

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.