Canaccord Genuity Group Cuts DraftKings (NASDAQ:DKNG) Price Target to $50.00

Posted by Joseph Griffin on Feb 6th, 2026

DraftKings (NASDAQ:DKNG – Free Report) had its price target lowered by Canaccord Genuity Group from $54.00 to $50.00 in a research note released on Tuesday, Marketbeat reports. Canaccord Genuity Group currently has a buy rating on the stock.

DKNG has been the topic of several other reports. Northland Securities raised DraftKings from an “under perform” rating to a “market perform” rating in a research note on Monday, November 10th. Barclays cut their price target on shares of DraftKings from $54.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, November 10th. Morgan Stanley boosted their price objective on shares of DraftKings from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price objective on shares of DraftKings in a research report on Wednesday, November 19th. Finally, Stifel Nicolaus cut their target price on shares of DraftKings from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Twenty-three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.10.

Read Our Latest Analysis on DraftKings

DraftKings Trading Down 6.3%

DKNG stock opened at $25.52 on Tuesday. 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 company has a market cap of $12.70 billion, a price-to-earnings ratio of -44.77, a PEG ratio of 0.47 and a beta of 1.67. The business has a fifty day simple moving average of $33.22 and a 200-day simple moving average of $37.03. DraftKings has a 52 week low of $25.01 and a 52 week high of $53.61.

DraftKings (NASDAQ:DKNG – Get Free Report) last issued its earnings results on Friday, November 7th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.40 billion. DraftKings had a negative net margin of 4.90% and a negative return on equity of 22.84%. DraftKings’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.60) EPS. On average, equities research analysts expect that DraftKings will post 0.64 EPS for the current year.

Insider Activity

In other news, Director Gregory Westin Wendt purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were purchased at an average price of $30.27 per share, with a total value of $302,700.00. Following the purchase, the director directly owned 10,000 shares of the company’s stock, valued at approximately $302,700. This represents a ? increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Harry Sloan acquired 25,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was purchased at an average cost of $30.30 per share, with a total value of $757,500.00. Following the completion of the transaction, the director owned 249,712 shares in the company, valued at $7,566,273.60. The trade was a 11.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have sold 113,975 shares of company stock worth $3,721,511. Company insiders own 51.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DKNG. Dagco Inc. purchased a new stake in DraftKings during the 4th quarter worth approximately $26,000. Ameriflex Group Inc. grew its position in shares of DraftKings by 100.0% during the third quarter. Ameriflex Group Inc. now owns 810 shares of the company’s stock worth $30,000 after buying an additional 405 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of DraftKings in the third quarter worth $33,000. Asset Dedication LLC acquired a new stake in DraftKings in the third quarter valued at $37,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in DraftKings in the second quarter valued at $45,000. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Key Headlines Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

Positive Sentiment: Super Bowl betting buzz lifted short-term demand for DraftKings’ sportsbook, giving the stock a temporary pop amid heightened user activity and wagering headlines. DraftKings stock rises amid Super Bowl betting buzz, prediction market controversy
Positive Sentiment: DraftKings signed new office space in Raleigh as it expands footprint in North Carolina—a modest operational positive signaling market build-out where sports betting is growing. DraftKings leases space in Raleigh as sports betting takes root in North Carolina
Neutral Sentiment: Analyst commentary is mixed: some Wall Street notes remain constructive or neutral, but the consensus tone is cautious; these reports are keeping volatility high ahead of earnings. Is DraftKings (DKNG) a Buy as Wall Street Analysts Look Optimistic?
Neutral Sentiment: Zacks preview says DraftKings may not have the setup for an earnings beat next week—this tempers upside expectations even if top-line growth continues. DraftKings (DKNG) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
Negative Sentiment: A short seller flagged mounting competition from Kalshi’s prediction markets as a structural risk to DraftKings’ pricing and market share—this increased investor concern about future revenue and margins. DraftKings faces mounting competition from Kalshi prediction markets, says short seller
Negative Sentiment: Several sell-side notes and media pieces (including a “3 Reasons to Sell” feature) argue slowing user growth, margin pressure and valuation risk—pressuring sentiment and driving downgrades. 3 Reasons to Sell DKNG and 1 Stock to Buy Instead
Negative Sentiment: Recent analyst downgrades and lowered price targets (Truist, Canaccord and others) helped push the stock to a new one?year low and signaled reduced near-term upside. DraftKings (NASDAQ:DKNG) Reaches New 1-Year Low on Analyst Downgrade Canaccord Genuity Has Lowered Expectations for DraftKings
Negative Sentiment: High-profile selling (reported Cathie Wood sale of ~$21M) and coverage highlighting sluggish growth and margin strain add to negative momentum and investor caution. Nevada sues Coinbase…Cathie Wood sells $21 mil of DraftKings

About DraftKings

(Get Free Report)

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.