Sanford C. Bernstein Issues Pessimistic Forecast for DraftKings (NASDAQ:DKNG) Stock Price

Posted by Defense World Staff on Feb 8th, 2026

DraftKings (NASDAQ:DKNG – Get Free Report) had its price target reduced by equities researchers at Sanford C. Bernstein from $41.00 to $32.00 in a report issued on Friday, Marketbeat.com reports. The firm currently has an “outperform” rating on the stock. Sanford C. Bernstein’s price objective would suggest a potential upside of 20.21% from the stock’s previous close.

DKNG has been the subject of several other reports. Needham & Company LLC reissued a “buy” rating and set a $52.00 price objective on shares of DraftKings in a report on Wednesday, November 19th. Macquarie Infrastructure cut their price objective on DraftKings from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, November 10th. Citigroup assumed coverage on shares of DraftKings in a research report on Friday, November 21st. They issued a “buy” rating and a $48.00 price target on the stock. Susquehanna set a $44.00 price target on DraftKings in a research report on Tuesday, January 27th. Finally, BMO Capital Markets cut their price objective on shares of DraftKings from $65.00 to $63.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 4th. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $45.79.

Check Out Our Latest Stock Analysis on DKNG

DraftKings Stock Up 4.3%

Shares of DraftKings stock opened at $26.62 on Friday. DraftKings has a twelve month low of $25.01 and a twelve month high of $53.61. The stock has a market cap of $13.25 billion, a price-to-earnings ratio of -46.70, a price-to-earnings-growth ratio of 0.46 and a beta of 1.67. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 2.51. The company has a fifty day moving average price of $33.09 and a 200 day moving average price of $36.86.

DraftKings (NASDAQ:DKNG – Get Free Report) last issued its quarterly earnings data on Friday, November 7th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.40 billion. DraftKings had a negative return on equity of 22.84% and a negative net margin of 4.90%.The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.60) EPS. Equities research analysts forecast that DraftKings will post 0.64 earnings per share for the current fiscal year.

Insider Transactions at DraftKings

In other news, insider R Stanton Dodge sold 52,777 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $32.01, for a total transaction of $1,689,391.77. Following the completion of the transaction, the insider owned 500,000 shares in the company, valued at approximately $16,005,000. This trade represents a 9.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gregory Westin Wendt acquired 10,000 shares of the stock in a transaction dated Tuesday, November 11th. The stock was acquired at an average cost of $30.27 per share, for a total transaction of $302,700.00. Following the purchase, the director directly owned 10,000 shares in the company, valued at approximately $302,700. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 113,975 shares of company stock worth $3,721,511. Corporate insiders own 51.19% of the company’s stock.

Institutional Inflows and Outflows

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

Trending Headlines about DraftKings

Here are the key news stories impacting DraftKings this week:

Positive Sentiment: DraftKings struck a deal with Crypto.com to add the first player-specific NFL and NBA contracts to DraftKings Predictions, expand sports coverage, integrate additional CFTC-regulated liquidity providers (and Railbird Exchange soon), and enable future categories (culture, politics). This strengthens product breadth and regulatory credibility for prediction markets. DraftKings Expands Prediction Markets Catalog in Deal With Crypto.com
Positive Sentiment: Local expansion: DraftKings leased office space in Raleigh as it grows presence where sports betting is taking root in North Carolina — a sign of geographic growth and operating expansion. DraftKings leases space in Raleigh as sports betting takes root in North Carolina
Neutral Sentiment: Sanford C. Bernstein cut its price target from $41 to $32 but kept an “Outperform” rating — a downgrade in near-term expectations but still constructive relative to consensus upside. DraftKings price target lowered by Bernstein
Neutral Sentiment: Analyst sentiment is mixed ahead of DraftKings’ upcoming quarterly results — some firms remain constructive while others are trimming expectations, contributing to volatility into the print. Mixed Analyst Sentiment on DraftKings (DKNG) Ahead of Fourth-Quarter Results
Negative Sentiment: Analyst downgrades and price-target cuts continue to pressure the stock — recent coverage includes cuts to ratings/targets and headlines noting a new 1‑year low after downgrades. This increases near-term downside risk if guidance or results disappoint. DraftKings Cut to “Hold” at Truist Financial
Negative Sentiment: Competitive and operational risks: a short-seller report flagged mounting competition from Kalshi in prediction markets, and analysts/news outlets have raised concerns about sluggish growth and margin pressure — issues that could blunt the long-term revenue upside from new product launches. DraftKings faces mounting competition from Kalshi prediction markets, says short seller
Negative Sentiment: Earnings risk: preview pieces suggest DraftKings may lack the catalysts for an earnings beat next week, increasing the chance of a negative reaction if revenue or margins fall short. DraftKings (DKNG) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release

About DraftKings

(Get Free Report)

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.