DraftKings (NASDAQ:DKNG) Stock Price Expected to Rise, Benchmark Analyst Says

DraftKings (NASDAQ:DKNG) had its target price lifted by Benchmark from $29.00 to $30.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price objective would indicate a potential upside of 27.20% from the company’s previous close.

A number of other research firms have also weighed in on DKNG. UBS Group lifted their price objective on shares of DraftKings from $43.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, June 5th. HSBC raised shares of DraftKings from a “hold” rating to a “hold” rating in a research note on Friday, April 24th. Zacks Research upgraded shares of DraftKings from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Northland Securities set a $27.00 price target on shares of DraftKings in a research note on Monday, May 11th. Finally, Guggenheim reiterated a “buy” rating and issued a $35.00 price objective on shares of DraftKings in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, DraftKings has a consensus rating of “Moderate Buy” and an average price target of $34.14.

DraftKings Stock Up 6.4%

NASDAQ:DKNG traded up $1.41 during trading hours on Friday, hitting $23.58. The company’s stock had a trading volume of 23,235,708 shares, compared to its average volume of 13,851,850. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.03. DraftKings has a 52-week low of $20.46 and a 52-week high of $48.78. The stock has a market capitalization of $11.70 billion, a P/E ratio of 392.50 and a beta of 1.66. The stock has a fifty day moving average of $25.38 and a 200-day moving average of $24.97.

DraftKings (NASDAQ:DKNG) last posted its earnings results on Friday, August 7th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.07. DraftKings had a return on equity of 13.51% and a net margin of 0.93%.The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the business earned $0.30 EPS. The business’s quarterly revenue was down 4.6% on a year-over-year basis. On average, equities analysts forecast that DraftKings will post 0.54 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Woodrow Levin sold 34,234 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $25.71, for a total transaction of $880,156.14. Following the completion of the transaction, the director owned 29,820 shares in the company, valued at approximately $766,672.20. This represents a 53.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider R Stanton Dodge sold 62,500 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $29.68, for a total value of $1,855,000.00. Following the completion of the transaction, the insider directly owned 556,258 shares in the company, valued at $16,509,737.44. The trade was a 10.10% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 97,596 shares of company stock worth $2,756,991 in the last ninety days. 47.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DKNG. Ascentis Independent Advisors acquired a new stake in shares of DraftKings during the first quarter valued at about $27,000. Basecamp Wealth Advisors LLC boosted its position in shares of DraftKings by 3,547.1% in the first quarter. Basecamp Wealth Advisors LLC now owns 1,240 shares of the company’s stock valued at $27,000 after acquiring an additional 1,206 shares during the period. CoreCap Advisors LLC raised its position in DraftKings by 336.5% in the 2nd quarter. CoreCap Advisors LLC now owns 1,148 shares of the company’s stock worth $29,000 after purchasing an additional 885 shares during the period. Montag A & Associates Inc. raised its holdings in DraftKings by 82.5% during the 4th quarter. Montag A & Associates Inc. now owns 1,106 shares of the company’s stock valued at $38,000 after buying an additional 500 shares during the last quarter. Finally, SHP Wealth Management purchased a new position in shares of DraftKings during the fourth quarter valued at about $42,000. 37.70% of the stock is currently owned by institutional investors.

DraftKings News Roundup

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Management said its Predictions business is growing faster than expected and is becoming central to DraftKings’ strategy of building a nationwide sports-commerce platform. The company sees opportunities to acquire and monetize customers through sports betting, gaming and prediction markets, with the NFL season providing a potential engagement catalyst. DraftKings’ Prediction Markets Push Is Reshaping Its National Growth Strategy
• Positive Sentiment: DraftKings reaffirmed its fiscal 2026 revenue outlook of $6.5 billion to $6.9 billion, broadly supporting investor confidence despite the quarterly revenue shortfall. Management also said the core business remains on track to generate approximately $1 billion in adjusted core profit this year, giving it flexibility to invest in Predictions. DraftKings Reports Second Quarter Results
• Neutral Sentiment: Unusually high call-option activity indicated speculative bullish positioning ahead of the report, with investors purchasing roughly 41,345 calls—about 16% above average volume. Options activity can amplify volatility but does not necessarily indicate improving fundamentals. Traders Buy High Volume of DraftKings Call Options
• Negative Sentiment: Second-quarter revenue was $1.44 billion, below the roughly $1.51 billion analyst expectation and down 4.6% year over year. DraftKings also swung to a $67.6 million net loss from $157.9 million in profit a year earlier, while promotions and unfavorable sports outcomes—including the Knicks’ title run and World Cup results—pressured results. DraftKings Second-Quarter Revenue Falls, Hurt by Promotions

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.