DraftKings (NASDAQ:DKNG) Price Target Raised to $50.00

DraftKings (NASDAQ:DKNG) had its target price upped by BMO Capital Markets from $42.00 to $50.00 in a report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also recently commented on DKNG. Canaccord Genuity Group reduced their price objective on DraftKings from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Barclays reaffirmed an “overweight” rating on shares of DraftKings in a research report on Tuesday. Oppenheimer reduced their price target on shares of DraftKings from $50.00 to $35.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Citizens Jmp restated a “market outperform” rating and set a $38.00 price target on shares of DraftKings in a research note on Tuesday. Finally, Wells Fargo & Company restated an “overweight” rating on shares of DraftKings in a report on Tuesday. Twenty-five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, DraftKings currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.19.

DraftKings Price Performance

DKNG stock opened at $25.46 on Tuesday. The stock has a market capitalization of $12.55 billion, a PE ratio of -636.50, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. The company’s 50-day moving average is $29.01 and its 200-day moving average is $34.21. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.03 and a quick ratio of 1.03. DraftKings has a 1 year low of $21.01 and a 1 year high of $48.78.

Insider Buying and Selling

In other DraftKings news, CAO Erik Bradbury sold 7,268 shares of DraftKings stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $22.50, for a total transaction of $163,530.00. Following the transaction, the chief accounting officer owned 36,736 shares of the company’s stock, valued at $826,560. This trade represents a 16.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry Sloan bought 100,000 shares of DraftKings stock in a transaction dated Tuesday, February 17th. The stock was acquired at an average cost of $21.85 per share, with a total value of $2,185,000.00. Following the completion of the acquisition, the director owned 350,219 shares of the company’s stock, valued at $7,652,285.15. This represents a 39.96% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have sold 62,928 shares of company stock worth $1,923,728. 51.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Viking Global Investors LP purchased a new stake in shares of DraftKings during the 3rd quarter valued at approximately $561,125,000. Capital World Investors raised its holdings in DraftKings by 181.4% during the 4th quarter. Capital World Investors now owns 18,626,429 shares of the company’s stock valued at $641,867,000 after acquiring an additional 12,008,357 shares during the period. Janus Henderson Group PLC lifted its position in shares of DraftKings by 50.8% during the fourth quarter. Janus Henderson Group PLC now owns 25,313,909 shares of the company’s stock worth $858,893,000 after acquiring an additional 8,524,923 shares in the last quarter. Norges Bank purchased a new stake in shares of DraftKings during the second quarter worth $362,554,000. Finally, AQR Capital Management LLC boosted its holdings in shares of DraftKings by 41.0% in the fourth quarter. AQR Capital Management LLC now owns 16,474,009 shares of the company’s stock worth $567,694,000 after acquiring an additional 4,788,337 shares during the period. Hedge funds and other institutional investors own 37.70% of the company’s stock.

DraftKings News Roundup

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Company unveiled a consolidated “DraftKings Sports & Casino” Super App to combine sportsbook, predictions, casino and lottery into one account/wallet — the market sees this as a revenue‑per‑user and cross‑sell catalyst that can boost engagement and lifetime value. DraftKings Super App
• Positive Sentiment: Analyst support has been strengthening: BMO (reported coverage) expects upside and other firms (Goldman Sachs, Susquehanna) issued buy ratings — analyst upgrades and higher price targets add near‑term buying pressure and validate the new strategy. BMO coverage
• Positive Sentiment: Insider accumulation: a director reportedly bought 100,000 shares — large insider purchases typically signal confidence from insiders and can support the stock. Insider buying story
• Positive Sentiment: Product expansion into prediction markets is getting press and analyst attention — WSJ and Zacks highlight DraftKings’ plans to use its sports‑betting tech to scale prediction markets, a higher‑margin potential growth lane. WSJ prediction markets Zacks prediction markets
• Neutral Sentiment: Investor Day materials and prepared remarks were published — useful for modeling long‑term revenue mix and margins but not an immediate revenue catalyst. Investor Day transcript
• Neutral Sentiment: CEO set ethical boundaries (no bets on geopolitical death/war) — reputationally positive but unlikely to move near‑term top line. CEO ethical stance
• Neutral Sentiment: Short‑interest feeds show a large/odd change that appears to be a reporting artifact (zeroed out) — not a reliable signal as published.
• Negative Sentiment: Company CAO Erik Bradbury sold 2,883 shares (~$70.8k) on March 3 (SEC Form 4) — a small insider sale that some investors interpret as a modest negative signal even though the size is limited. SEC Form 4

DraftKings Company Profile

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.