DraftKings (NASDAQ:DKNG) Price Target Cut to $30.00 by Analysts at Bank of America

DraftKings (NASDAQ:DKNG) had its price objective cut by Bank of America from $37.50 to $30.00 in a research report released on Friday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also weighed in on DKNG. Mizuho reduced their price objective on shares of DraftKings from $54.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, November 13th. Northland Securities raised DraftKings from an “under perform” rating to a “market perform” rating in a report on Monday, November 10th. Citigroup began coverage on DraftKings in a research report on Friday, November 21st. They issued a “buy” rating and a $48.00 price target for the company. Wells Fargo & Company assumed coverage on DraftKings in a research note on Tuesday, November 18th. They set an “equal weight” rating and a $31.00 price objective on the stock. Finally, Benchmark reissued a “buy” rating on shares of DraftKings in a report on Monday, January 12th. Twenty-three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.14.

DraftKings Price Performance

DKNG opened at $21.76 on Friday. The firm has a 50-day moving average price of $32.22 and a 200-day moving average price of $36.25. DraftKings has a twelve month low of $21.01 and a twelve month high of $53.61. 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 capitalization of $10.83 billion, a price-to-earnings ratio of -544.00, a PEG ratio of 0.50 and a beta of 1.67.

Insider Buying and Selling

In other DraftKings news, insider R Stanton Dodge sold 52,777 shares of the company’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $32.01, for a total value of $1,689,391.77. Following the transaction, the insider directly owned 500,000 shares in the company, valued at $16,005,000. This represents a 9.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 51.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC lifted its position in DraftKings by 5.9% during the first quarter. Integrated Wealth Concepts LLC now owns 9,460 shares of the company’s stock valued at $314,000 after purchasing an additional 524 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of DraftKings by 1,141.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,044 shares of the company’s stock worth $1,463,000 after buying an additional 40,495 shares during the last quarter. Empowered Funds LLC raised its position in shares of DraftKings by 18.0% during the 1st quarter. Empowered Funds LLC now owns 9,115 shares of the company’s stock valued at $303,000 after buying an additional 1,391 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of DraftKings during the 2nd quarter worth $603,000. Finally, Callan Family Office LLC bought a new stake in shares of DraftKings during the 2nd quarter worth $252,000. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Key DraftKings News

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Q4 revenue and margin progress — DraftKings reported +43% year‑over‑year revenue and said it achieved record revenue and adjusted EBITDA, signaling strong top‑line growth and improving operating results. DraftKings Reports Fourth Quarter Revenue Growth of 43%
• Positive Sentiment: Some analysts remain constructive — BTIG kept a “buy” rating despite cutting the price target to $37, still implying substantial upside from current levels, which can provide a floor for longer‑term buyers. Benzinga
• Neutral Sentiment: Mixed analyst updates — Benchmark and Bank of America trimmed targets (Benchmark to $29 with a buy, BofA to $30 with neutral). Ratings remain mixed between buy/neutral, leaving analyst coverage supportive but less bullish. TickerReport
• Neutral Sentiment: Earnings call and transcript available — Investors can review management’s Q4 commentary and guidance rationale in the transcript to assess credibility of the company’s longer‑term prediction‑market strategy. Earnings Call Transcript
• Negative Sentiment: EPS missed expectations — DraftKings reported $0.36 EPS vs consensus ~ $0.45, a clear earnings miss that pressured the stock despite revenue growth. MarketBeat Earnings Report
• Negative Sentiment: Cautious FY‑2026 guidance — Management’s revenue guidance came in below consensus (company guided roughly $6.5B–$6.9B vs ~ $7.3B Street estimate), signaling slower near‑term growth and prompting downward revisions. Press Release / Slides
• Negative Sentiment: Prediction‑market risk and regulatory scrutiny — The company’s large prediction‑markets ambitions are drawing regulatory attention (CFTC) and investor skepticism about timing and profitability of that business, adding uncertainty to growth assumptions. WSJ
• Negative Sentiment: High trading volume / selling pressure — The session showed well‑above‑average volume, indicating aggressive repositioning by investors after the miss and guidance, which amplified the downward move. ProactiveInvestors

About DraftKings

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.