Truist Financial Lowers DraftKings (NASDAQ:DKNG) Price Target to $33.00

DraftKings (NASDAQ:DKNG) had its target price reduced by Truist Financial from $45.00 to $33.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 52.86% from the company’s current price.

Several other brokerages have also recently commented on DKNG. Stifel Nicolaus set a $40.00 target price on DraftKings in a research report on Tuesday. Sanford C. Bernstein set a $28.00 price objective on DraftKings in a research report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of DraftKings in a report on Wednesday, January 21st. Susquehanna set a $33.00 price target on shares of DraftKings in a report on Tuesday. Finally, Morgan Stanley upped their price objective on shares of DraftKings from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Twenty-four analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.48.

DraftKings Trading Down 0.8%

Shares of DKNG stock traded down $0.17 during trading hours on Tuesday, reaching $21.59. 4,686,772 shares of the stock traded hands, compared to its average volume of 16,199,166. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 2.51. The firm has a market capitalization of $10.75 billion, a PE ratio of -539.25, a PEG ratio of 0.43 and a beta of 1.67. DraftKings has a 1-year low of $21.01 and a 1-year high of $53.50. The business has a fifty day moving average price of $31.94 and a 200 day moving average price of $35.97.

Insider Activity at DraftKings

In other news, insider R Stanton Dodge sold 52,777 shares of the firm’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $32.01, for a total transaction of $1,689,391.77. Following the transaction, the insider owned 500,000 shares in the company, valued at approximately $16,005,000. This trade represents a 9.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 47.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DraftKings

Several institutional investors have recently bought and sold shares of the stock. Viking Global Investors LP acquired a new position in shares of DraftKings during the 3rd quarter valued at about $561,125,000. Capital World Investors boosted its position in DraftKings by 181.4% during the fourth quarter. Capital World Investors now owns 18,626,429 shares of the company’s stock worth $641,867,000 after purchasing an additional 12,008,357 shares during the period. Norges Bank acquired a new position in DraftKings during the second quarter valued at approximately $362,554,000. AQR Capital Management LLC raised its position in shares of DraftKings by 63.5% in the third quarter. AQR Capital Management LLC now owns 11,685,672 shares of the company’s stock valued at $437,044,000 after purchasing an additional 4,538,007 shares during the period. Finally, Brown Advisory Inc. raised its position in shares of DraftKings by 53,272.1% in the second quarter. Brown Advisory Inc. now owns 4,056,280 shares of the company’s stock valued at $173,974,000 after purchasing an additional 4,048,680 shares during the period. 37.70% of the stock is currently owned by 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

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.