DraftKings (NASDAQ:DKNG) Stock Price Target Lowered at Truist Financial

DraftKings (NASDAQ:DKNG) had its price objective reduced by equities researchers at Truist Financial from $26.00 to $22.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial‘s price objective points to a potential upside of 18.85% from the company’s current price.

Other analysts have also issued research reports about the stock. Jefferies Financial Group restated a “buy” rating and set a $28.00 price target on shares of DraftKings in a research report on Monday. Bank of America restated a “buy” rating on shares of DraftKings in a research report on Friday. JPMorgan Chase & Co. downgraded shares of DraftKings from an “overweight” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a report on Monday. Zacks Research lowered shares of DraftKings from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 13th. Finally, Moffett Nathanson restated a “neutral” rating and set a $22.00 price target on shares of DraftKings in a research report on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.26.

DraftKings Stock Performance

DraftKings stock opened at $18.51 on Monday. The company has a market capitalization of $9.19 billion, a price-to-earnings ratio of -23.14, a price-to-earnings-growth ratio of 2.43 and a beta of 1.65. The stock has a 50-day moving average price of $21.51 and a 200 day moving average price of $24.06. DraftKings has a 52 week low of $16.55 and a 52 week high of $36.98. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.22.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.12). The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.39 billion. DraftKings had a negative return on equity of 36.21% and a negative net margin of 5.91%. DraftKings’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.26) EPS. Sell-side analysts anticipate that DraftKings will post 0.31 EPS for the current year.

Insiders Place Their Bets

In other DraftKings news, Director Jocelyn Moore sold 10,759 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $24.05, for a total transaction of $258,753.95. Following the transaction, the director directly owned 1,881 shares in the company, 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 at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 47.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC acquired a new stake in DraftKings during the 1st quarter worth $17,660,000. Spruce House Investment Management LLC lifted its position in DraftKings by 129.6% in the first 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 period. Janus Henderson Group PLC boosted its holdings in DraftKings by 9.3% during the first quarter. Janus Henderson Group PLC now owns 27,665,699 shares of the company’s stock worth $588,288,000 after buying an additional 2,351,790 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of DraftKings in the first quarter valued at $4,473,000. Finally, Entropy Technologies LP purchased a new position in DraftKings during the first quarter worth $2,669,000. 37.70% of the stock is owned by hedge funds and other institutional investors.

Key DraftKings News

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Sanford C. Bernstein cut its price target to $22 from $27 but maintained an outperform rating. BTIG lowered its target to $23 from $26 while keeping a buy rating; both targets remain above the cited $18.51 share price. Ticker Report analyst update
• Neutral Sentiment: A report highlighted rising hopes for sports betting in Texas as prediction markets face scrutiny. That could represent a longer-term opportunity, but the coverage does not point to an immediate policy change. DraftKings Texas betting outlook
• Negative Sentiment: JPMorgan downgraded DraftKings from overweight to neutral, setting a $21 target. Reports also say UBS and Stifel downgraded the stock, adding to investor concern after its recent sharp decline. Report on analyst downgrades
• Negative Sentiment: The main pressure is DraftKings’ disappointing third-quarter results and lowered fiscal 2026 guidance, with weak 2027 expectations also cited. The earnings miss and outlook cuts have led analysts to reduce forecasts and price targets, reinforcing concerns about growth and execution. Analyst forecasts after DraftKings Q3 results

DraftKings Company Profile

DraftKings Inc is a digital sports and entertainment company founded in 2012. It began as a daily fantasy sports platform and has since expanded into online sports betting and gaming.

The company offers daily fantasy contests, a sportsbook and online casino products, including games such as slots and table games. Its services are available in a range of U.S. jurisdictions and in Ontario, Canada, where permitted by local regulations.

DraftKings is headquartered in Boston, Massachusetts.