DraftKings’ (DKNG) “Buy” Rating Reiterated at BTIG Research

BTIG Research reaffirmed their buy rating on shares of DraftKings (NASDAQ:DKNG) in a research note released on Monday morning,Benzinga reports. The brokerage currently has a $35.00 price objective on the stock.

Other research analysts also recently issued research reports about the stock. Guggenheim set a $37.00 target price on shares of DraftKings in a research report on Tuesday, February 17th. The Goldman Sachs Group dropped their price objective on shares of DraftKings from $54.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Texas Capital raised shares of DraftKings to a “hold” rating in a report on Thursday, January 8th. Citizens Jmp reissued a “market outperform” rating and issued a $38.00 price objective on shares of DraftKings in a research note on Tuesday, March 3rd. Finally, Canaccord Genuity Group lowered their target price on DraftKings from $50.00 to $44.00 and set a “buy” rating for the company in a report on Friday, February 13th. Twenty-five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.09.

DraftKings Stock Performance

Shares of DraftKings stock opened at $21.42 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.91. The stock’s fifty day moving average price is $26.13 and its 200-day moving average price is $31.93. The firm has a market cap of $10.56 billion, a P/E ratio of -535.50, a P/E/G ratio of 0.93 and a beta of 1.67. DraftKings has a 12 month low of $21.01 and a 12 month high of $48.78.

Insiders Place Their Bets

In other news, Director Jocelyn Moore sold 2,150 shares of DraftKings stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $25.60, for a total value of $55,040.00. Following the transaction, the director owned 1,406 shares of the company’s stock, valued at $35,993.60. The trade was a 60.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harry Sloan acquired 100,000 shares of DraftKings stock in a transaction that occurred on Tuesday, February 17th. The shares were purchased at an average price of $21.85 per share, with a total value of $2,185,000.00. Following the purchase, the director owned 350,219 shares in the company, valued at $7,652,285.15. This represents a 39.96% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 549,495 shares of company stock worth $14,166,700. Insiders own 51.19% of the company’s stock.

Hedge Funds Weigh In On DraftKings

A number of large investors have recently made changes to their positions in the business. Nordea Investment Management AB grew its holdings in DraftKings by 1,996.2% during the third quarter. Nordea Investment Management AB now owns 421,127 shares of the company’s stock worth $16,205,000 after acquiring an additional 401,037 shares during the period. Massachusetts Financial Services Co. MA boosted its position in DraftKings by 1.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,473,099 shares of the company’s stock worth $279,494,000 after purchasing an additional 79,152 shares in the last quarter. Swiss National Bank grew its stake in shares of DraftKings by 10.0% during the 2nd quarter. Swiss National Bank now owns 1,361,964 shares of the company’s stock worth $58,415,000 after purchasing an additional 124,200 shares during the period. Citigroup Inc. increased its holdings in shares of DraftKings by 40.6% during the 3rd quarter. Citigroup Inc. now owns 1,939,764 shares of the company’s stock valued at $72,547,000 after purchasing an additional 560,139 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of DraftKings by 2.9% in the 2nd quarter. Rhumbline Advisers now owns 603,836 shares of the company’s stock valued at $25,898,000 after purchasing an additional 17,114 shares during the period. 37.70% of the stock is owned by institutional investors and hedge funds.

DraftKings News Roundup

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: The MarketBeat write-up highlights a bipartisan Senate bill (the “Prediction Markets Are Gambling Act”) that would ban sports-related contracts on unregulated prediction platforms — a development that can act as a regulatory moat for licensed operators like DraftKings by removing a class of gray‑area competitors. Regulatory Jackpot: Gaming Stocks Surge on a Surprise Bill
• Positive Sentiment: Seeking Alpha coverage points to DraftKings’ “super app” growth and clarity around its prediction platform as longer-term upside drivers — evidence that product expansion and cross‑sell could help revenue and margin progression if execution continues. DraftKings’ Big Break Through Super App Growth And Prediction Platform Clarity
• Neutral Sentiment: Yahoo Finance examines lawmakers’ moves to limit prediction markets — the net impact for DraftKings is ambiguous: legislation could bolster incumbents by shutting out unregulated rivals, but it could also curtail new product lines or invite tighter oversight. Monitor bill text. As Lawmakers Look to Limit Prediction Markets, What Could It Mean for DraftKings Stock?
• Neutral Sentiment: Analysis pieces (Seeking Alpha) discussing DraftKings’ exposure to prediction markets and strategic positioning are helpful for context but do not add a single definitive catalyst — they frame risk/reward rather than changing fundamentals today. DraftKings: Predictions About The Predictions Market And Other, More Important Predictions
• Negative Sentiment: The NCAA filed a federal trademark complaint seeking emergency relief to stop DraftKings’ use of tournament-related terms (e.g., “March Madness,” “Final Four”), creating potential injunction risk and promotional restrictions during peak tournament betting season; DraftKings says it will fight the claim. This legal overhang is a clear near‑term negative. DraftKings slips as NCAA trademark lawsuit adds legal overhang during tournament season
• Negative Sentiment: Short-term market reaction coverage (247WallStreet) shows DraftKings’ shares moving lower in response to Senate bill headlines and associated uncertainty — indicating that investors are trading on headline risk and ambiguous policy outcomes rather than waiting for bill text or court resolutions. Senate Betting Bill Hits DraftKings Hard: DKNG Falls 6% While Penn Entertainment Holds Its Ground

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.