DraftKings (NASDAQ:DKNG) Given New $32.00 Price Target at Citigroup

DraftKings (NASDAQ:DKNG) had its target price decreased by research analysts at Citigroup from $48.00 to $32.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 43.70% from the company’s previous close.

Several other research analysts also recently weighed in on DKNG. BTIG Research dropped their target price on shares of DraftKings from $45.00 to $37.00 and set a “buy” rating for the company in a report on Friday. Macquarie Infrastructure dropped their price objective on DraftKings from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. Susquehanna set a $33.00 target price on DraftKings in a research report on Tuesday. Canaccord Genuity Group lowered their price target on DraftKings from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Friday. Finally, Stifel Nicolaus set a $40.00 price target on DraftKings and gave the stock a “buy” rating in a research note on Tuesday. Twenty-four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $40.72.

DraftKings Price Performance

Shares of DKNG traded up $0.51 during mid-day trading on Tuesday, reaching $22.27. The stock had a trading volume of 9,023,043 shares, compared to its average volume of 16,291,329. The firm has a market cap of $11.08 billion, a price-to-earnings ratio of -558.88, a PEG ratio of 0.43 and a beta of 1.67. DraftKings has a 12 month low of $21.01 and a 12 month high of $53.50. The business has a fifty day moving average of $31.94 and a 200 day moving average of $35.97. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.09 and a current ratio of 1.10.

Insider Activity at DraftKings

In related news, insider R Stanton Dodge sold 52,777 shares of the firm’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $32.01, for a total value of $1,689,391.77. Following the completion of the transaction, the insider directly owned 500,000 shares of the company’s stock, valued at approximately $16,005,000. This trade represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 47.08% of the company’s stock.

Hedge Funds Weigh In On DraftKings

Institutional investors have recently bought and sold shares of the business. IHT Wealth Management LLC boosted its position in DraftKings by 4.1% in the 2nd quarter. IHT Wealth Management LLC now owns 6,271 shares of the company’s stock valued at $269,000 after buying an additional 248 shares during the period. Orion Porfolio Solutions LLC boosted its holdings in shares of DraftKings by 3.1% in the third quarter. Orion Porfolio Solutions LLC now owns 10,608 shares of the company’s stock valued at $397,000 after purchasing an additional 321 shares during the period. Geneos Wealth Management Inc. grew its stake in DraftKings by 7.3% in the third quarter. Geneos Wealth Management Inc. now owns 4,793 shares of the company’s stock worth $179,000 after purchasing an additional 328 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in DraftKings by 3.6% in the second quarter. Valeo Financial Advisors LLC now owns 10,009 shares of the company’s stock worth $429,000 after purchasing an additional 348 shares in the last quarter. Finally, Huntleigh Advisors Inc. increased its holdings in DraftKings by 0.8% during the 3rd quarter. Huntleigh Advisors Inc. now owns 43,630 shares of the company’s stock worth $1,632,000 after purchasing an additional 363 shares during the period. Institutional investors own 37.70% of the company’s stock.

More DraftKings News

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: CEO commentary highlights AI optimization and opportunities from prediction markets, which management says will enhance user experience and future monetization — a fundamental upside catalyst if execution continues. DraftKings CEO on Sports Betting Uptick, Using AI & Prediction Markets
• Neutral Sentiment: Zacks flags DKNG as a trending stock, increasing attention but not providing new fundamental data — could boost short‑term interest/volume without changing fundamentals. Zacks Trending Stock Article
• Neutral Sentiment: Short‑interest report in the feed appears internally inconsistent (reports 0 shares / NaN change), so no reliable signal on investor positioning from that item; treat as data noise.
• Negative Sentiment: Needham cut its price target from $52 to $35 but kept a “buy” rating — a sizable reduction that likely weighs on sentiment and near‑term stock direction. Needham Price Target Cut
• Negative Sentiment: Oppenheimer lowered its target from $50 to $35 while maintaining an “outperform” rating — another substantial trim that adds selling pressure despite the still‑bullish stance. Benzinga on Oppenheimer Cut The Fly on Oppenheimer Cut
• Negative Sentiment: Mizuho trimmed its target from $46 to $44 but kept an “outperform” view — a modest cut that still contributes to the overall down‑shift in analyst expectations. Mizuho Price Target Cut
• Negative Sentiment: Seeking Alpha analysis: Q4 results were record, but 2026 guidance is conservative and shows slowing revenue growth — this guidance is a key reason analysts pared targets and likely the biggest near‑term negative fundamental signal. Seeking Alpha Coverage

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.