Oppenheimer Cuts DraftKings (NASDAQ:DKNG) Price Target to $35.00

Posted by Amy Steele on Feb 20th, 2026

DraftKings (NASDAQ:DKNG – Free Report) had its price objective lowered by Oppenheimer from $50.00 to $35.00 in a research report sent to investors on Tuesday, MarketBeat.com reports. Oppenheimer currently has an outperform rating on the stock.

A number of other research firms have also recently issued reports on DKNG. Citigroup assumed coverage on DraftKings in a research report on Friday, November 21st. They set a “buy” rating and a $48.00 price objective on the stock. Macquarie Infrastructure decreased their price target on shares of DraftKings from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, November 10th. Guggenheim lowered their price target on shares of DraftKings from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Mizuho dropped 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. Finally, Bank of America decreased their target price on shares of DraftKings from $37.50 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, February 13th. Twenty-four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.89.

Read Our Latest Stock Analysis on DKNG

DraftKings Trading Down 3.1%

Shares of DKNG opened at $22.49 on Tuesday. DraftKings has a 12-month low of $21.01 and a 12-month high of $50.50. The company has a quick ratio of 1.09, a current ratio of 1.03 and a debt-to-equity ratio of 2.91. The firm has a market capitalization of $11.09 billion, a price-to-earnings ratio of -562.25, a P/E/G ratio of 0.46 and a beta of 1.67. The stock’s 50-day moving average price is $31.22 and its 200 day moving average price is $35.64.

Insider Activity at DraftKings

In other DraftKings news, insider R Stanton Dodge sold 52,777 shares of the company’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $32.01, for a total transaction of $1,689,391.77. Following the transaction, the insider owned 500,000 shares of the company’s stock, valued at approximately $16,005,000. This represents a 9.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry Sloan acquired 100,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was purchased at an average price of $21.85 per share, for a total transaction of $2,185,000.00. Following the completion of the transaction, the director directly owned 350,219 shares in the company, valued at approximately $7,652,285.15. The trade was a 39.96% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 51.19% of the company’s stock.

Institutional Trading of DraftKings

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dagco Inc. bought a new position in shares of DraftKings in the 4th quarter valued at about $26,000. Ameriflex Group Inc. boosted its stake in DraftKings by 100.0% in the third quarter. Ameriflex Group Inc. now owns 810 shares of the company’s stock valued at $30,000 after acquiring an additional 405 shares during the last quarter. Root Financial Partners LLC acquired a new stake in DraftKings during the 3rd quarter worth $33,000. Asset Dedication LLC bought a new stake in shares of DraftKings during the 3rd quarter valued at $37,000. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of DraftKings during the 2nd quarter valued at $45,000. 37.70% of the stock is owned by institutional investors.

Key Headlines Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

Positive Sentiment: Director Harry Sloan bought 100,000 shares at about $21.85, increasing his stake ~40% — a material insider purchase that can signal management confidence and support demand under the stock. Harry Sloan Acquires 100,000 Shares of DraftKings (NASDAQ:DKNG) Stock
Positive Sentiment: Barclays reiterated a Buy, offering institutional validation that may attract buyers despite mixed Street sentiment. DraftKings (DKNG) Gets a Buy from Barclays
Neutral Sentiment: DraftKings and FanDuel are weighing a launch in Arkansas; entry could add growth but the state’s strict revenue‑sharing model may limit near‑term margin/earnings impact. FanDuel and DraftKings eye Arkansas sports betting launch despite strict revenue-sharing model
Negative Sentiment: Multiple brokers cut price targets after Q4 2025 results and a reduced FY2026 revenue outlook — Needham cut its PT to $35 (from $52), JPMorgan to $32, Oppenheimer to $35, Mizuho to $44 and others issued lower targets or more cautious commentary. These cuts lower near‑term upside expectations and are the main driver of today’s weakness. Needham Lowers DraftKings (DKNG) PT to $35 Following Earnings Miss, Reduced Revenue Outlook
Negative Sentiment: Broader Street skepticism (Goldman, Citi, Truist flagged downside/pessimism) and negative commentary pieces are pressuring retail sentiment and may amplify selling into the weaker technicals (stock near its 52‑week low and below 50/200‑day averages). The Goldman Sachs Group Issues Pessimistic Forecast for DraftKings (NASDAQ:DKNG) Stock Price

DraftKings Company Profile

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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.