DraftKings (NASDAQ:DKNG) Given New $30.00 Price Target at BTIG Research

DraftKings (NASDAQ:DKNG) had its price target increased by BTIG Research from $28.00 to $30.00 in a report released on Friday, Marketbeat.com reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also weighed in on DKNG. Wedbush began coverage on shares of DraftKings in a report on Friday, April 24th. They issued an “outperform” rating for the company. The Goldman Sachs Group decreased their price objective on shares of DraftKings from $54.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Stifel Nicolaus decreased their price objective on shares of DraftKings from $44.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Citigroup decreased their price target on shares of DraftKings from $32.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Finally, HSBC upgraded shares of DraftKings from a “hold” rating to a “hold” rating in a research note on Friday, April 24th. Twenty-seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.66.

DraftKings Price Performance

DKNG stock opened at $25.52 on Friday. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.03 and a quick ratio of 1.03. DraftKings has a one year low of $20.46 and a one year high of $48.78. The stock has a market cap of $12.65 billion, a PE ratio of 425.33, a P/E/G ratio of 1.19 and a beta of 1.67. The firm has a 50 day simple moving average of $23.56 and a two-hundred day simple moving average of $28.48.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). DraftKings had a return on equity of 12.71% and a net margin of 0.93%.The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the firm earned ($0.07) EPS. DraftKings’s quarterly revenue was up 16.8% on a year-over-year basis. On average, analysts predict that DraftKings will post 0.55 EPS for the current fiscal year.

Insider Buying and Selling at DraftKings

In related news, CAO Erik Bradbury sold 7,268 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $22.50, for a total value of $163,530.00. Following the transaction, the chief accounting officer owned 36,736 shares of the company’s stock, valued at approximately $826,560. This trade represents a 16.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Harry Sloan bought 100,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were purchased at an average price of $21.85 per share, for a total transaction of $2,185,000.00. Following the purchase, the director owned 350,219 shares in the company, valued at $7,652,285.15. This trade represents a 39.96% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 496,718 shares of company stock worth $12,477,308. 47.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DraftKings

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dagco Inc. bought a new stake in DraftKings during the 4th quarter worth approximately $26,000. Ascentis Independent Advisors purchased a new position in shares of DraftKings in the first quarter valued at $27,000. Ameriflex Group Inc. grew its holdings in shares of 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 purchasing an additional 405 shares in the last quarter. Root Financial Partners LLC purchased a new position in DraftKings during the third quarter worth $33,000. Finally, Asset Dedication LLC purchased a new position in DraftKings during the third quarter worth $37,000. Institutional investors own 37.70% of the company’s stock.

DraftKings News Summary

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Revenue for Q1 came in at $1.65 billion, beating Wall Street estimates and rising about 17% year over year, helped by strong betting margins and continued customer engagement. DraftKings shares gain as Q1 revenue tops estimates on strong betting margins
• Positive Sentiment: DraftKings swung to a profit of $21.1 million, a notable improvement from a loss a year ago, suggesting operating leverage is starting to show through. DraftKings Swings to First-Quarter Profit on Better Sportsbook Margins
• Positive Sentiment: BTIG raised its price target on DraftKings to $30 from $28 and kept a buy rating, signaling continued analyst confidence after the earnings release. Benzinga reference
• Neutral Sentiment: Adjusted earnings of $0.20 per share missed estimates by a small margin, which may limit upside until investors see more consistent EPS execution. DraftKings Reports Strong Start To 2026 With Q1 Double Beat
• Neutral Sentiment: The company reiterated full-year revenue guidance of roughly $6.5 billion to $6.9 billion, which was broadly in line with expectations and suggests management remains cautious but stable on the outlook. DraftKings beats profit estimates but guides below views
• Negative Sentiment: Some investors may focus on the earnings miss and the stock’s below-consensus guidance, which could temper enthusiasm after the strong revenue beat. DraftKings (DKNG) Q1 Earnings Lag Estimates

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.