BTIG Research Cuts DraftKings (NASDAQ:DKNG) Price Target to $25.00

DraftKings (NASDAQ:DKNG) had its target price reduced by BTIG Research from $30.00 to $25.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently commented on DKNG. Citigroup reaffirmed a “market outperform” rating on shares of DraftKings in a research report on Monday, September 28th. JPMorgan Chase & Co. cut their price target on shares of DraftKings from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Monday, August 10th. Wells Fargo & Company dropped their price objective on shares of DraftKings from $32.00 to $29.00 and set an “overweight” rating on the stock in a report on Monday, July 20th. Moffett Nathanson decreased their target price on shares of DraftKings from $27.00 to $25.00 in a research report on Wednesday, July 15th. Finally, TD Cowen increased their price target on DraftKings from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.14.

DraftKings Price Performance

NASDAQ DKNG opened at $18.59 on Thursday. DraftKings has a 12-month low of $18.52 and a 12-month high of $36.98. The firm’s fifty day simple moving average is $23.57 and its two-hundred day simple moving average is $24.24. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.22. The firm has a market capitalization of $9.23 billion, a P/E ratio of -48.92, a P/E/G ratio of 1.87 and a beta of 1.61.

DraftKings (NASDAQ:DKNG) last announced its earnings results on Friday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.07. DraftKings had a negative return on equity of 11.26% and a negative net margin of 2.68%.The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the company posted $0.30 EPS. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. Analysts forecast that DraftKings will post 0.4 EPS for the current fiscal year.

Insider Transactions at DraftKings

In related news, Director Jocelyn Moore sold 10,759 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $24.05, for a total value of $258,753.95. Following the completion of the sale, the director owned 1,881 shares of the company’s stock, valued at approximately $45,238.05. The trade was a 85.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 47.18% of the company’s stock.

Institutional Trading of DraftKings

Several institutional investors have recently modified their holdings of DKNG. CX Institutional raised its position in shares of DraftKings by 213.8% during the 3rd quarter. CX Institutional now owns 3,876 shares of the company’s stock worth $74,000 after purchasing an additional 2,641 shares during the last quarter. QRG Capital Management Inc. raised its holdings in shares of DraftKings by 30.6% during the second quarter. QRG Capital Management Inc. now owns 65,476 shares of the company’s stock valued at $1,654,000 after acquiring an additional 15,358 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of DraftKings by 9.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 13,744 shares of the company’s stock valued at $347,000 after acquiring an additional 1,139 shares in the last quarter. RFG Advisory LLC boosted its stake in shares of DraftKings by 14.2% in the second quarter. RFG Advisory LLC now owns 47,834 shares of the company’s stock worth $1,208,000 after acquiring an additional 5,930 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of DraftKings by 50.4% during the second quarter. NewEdge Advisors LLC now owns 45,486 shares of the company’s stock worth $1,149,000 after purchasing an additional 15,238 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

Key Stories Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: DraftKings is shifting Predictions activity to its DKeX exchange, which could allow the company to retain more fees, improve market liquidity, and increase higher-margin profit per customer through 2027. Can DKNG’s DKeX Rollout Lift Profit Per Customer Into 2027?
• Positive Sentiment: Analysts remain broadly constructive, with DraftKings carrying an average price target of $34.14. BTIG also maintained a “buy” rating, implying substantial upside despite reducing its target from $30 to $25. DraftKings Stock Has Average Price Target of $34.14
• Neutral Sentiment: DraftKings’ longer-term strategy is shifting from sports betting toward Predictions and other opportunities intended to support profitability. However, the stock’s elevated valuation leaves it vulnerable if growth slows. DraftKings’ 2026 Outlook
• Negative Sentiment: A New York Times investigation into DraftKings’ promotional targeting contributed to the recent selloff. DraftKings disputes the report, but the controversy has increased reputational and regulatory concerns. How Big Could DraftKings Stock’s Next Fall Be?
• Negative Sentiment: Investors are also concerned about intensified betting-industry competition and the possibility that DraftKings could experience another steep decline during a broader market shock. Why Did DKNG and Other Stocks Tumble to 52-Week Lows?

DraftKings Company Profile

DraftKings Inc is a digital sports entertainment and gaming company that provides online sports betting, daily fantasy sports and internet-based casino gaming. Its products are delivered through mobile applications and websites, allowing customers to wager on professional and collegiate sports, participate in fantasy contests and play a range of casino games where permitted by law.

The company also offers sports and betting-related content through DraftKings Network and operates additional gaming and entertainment products, including online lottery services in select markets.