DraftKings (NASDAQ:DKNG) Price Target Lowered to $32.00 at JPMorgan Chase & Co.

DraftKings (NASDAQ:DKNG) had its price objective decreased by JPMorgan Chase & Co. from $41.00 to $32.00 in a research note published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on DKNG. BMO Capital Markets reaffirmed an “outperform” rating and issued a $42.00 price objective on shares of DraftKings in a research report on Friday. Deutsche Bank Aktiengesellschaft set a $26.00 target price on DraftKings in a report on Tuesday. Northland Securities set a $24.00 price target on DraftKings in a research report on Tuesday. Sanford C. Bernstein set a $28.00 price objective on DraftKings in a research report on Monday. Finally, Texas Capital upgraded DraftKings to a “hold” rating in a research note on Thursday, January 8th. Twenty-four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, DraftKings currently has an average rating of “Moderate Buy” and a consensus price target of $37.89.

DraftKings Stock Performance

NASDAQ DKNG opened at $22.59 on Tuesday. The company has a fifty day moving average price of $31.69 and a 200-day moving average price of $35.82. The firm has a market cap of $11.24 billion, a price-to-earnings ratio of -564.75, a PEG ratio of 0.43 and a beta of 1.67. The company has a debt-to-equity ratio of 2.51, a current ratio of 1.10 and a quick ratio of 1.09. DraftKings has a 1 year low of $21.01 and a 1 year high of $53.50.

Insider Buying and Selling at DraftKings

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

Hedge Funds Weigh In On DraftKings

Large investors have recently modified their holdings of the business. Dagco Inc. bought a new stake in shares of DraftKings in the fourth quarter valued at approximately $26,000. Ameriflex Group Inc. grew its stake in 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 buying an additional 405 shares in the last quarter. Root Financial Partners LLC bought a new stake in DraftKings during the 3rd quarter valued at $33,000. Asset Dedication LLC purchased a new stake in shares of DraftKings during the third quarter worth $37,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of DraftKings during the second quarter worth $45,000. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Key Stories Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Meridian Hedged Equity Fund (ArrowMark-managed) reiterated confidence in DraftKings’ earnings outlook in its Q4 2025 investor letter, signaling continued institutional support. Meridian Letter
• Positive Sentiment: Mizuho kept an “outperform” rating after a modest target cut to $44, which still implies a large percentage upside versus the current price — a signal that some brokers see material longer-term upside. Mizuho Note
• Neutral Sentiment: Several major brokerages (JPMorgan to $32, Goldman to $31, Citi to $32, Truist to $33, Oppenheimer to $35, Needham to $35) lowered price targets today but largely maintained Buy/Outperform/Overweight ratings — showing reduced near-term expectations but continued analyst conviction. This mixed signal likely fuels intraday volatility. Analyst Roundup
• Neutral Sentiment: DraftKings is a “trending” stock on investor sites (Zacks coverage), which can amplify short-term flows and volatility independent of fundamentals. Short-interest data reported today is unreliable (zero/NaN), so its impact is unclear. Zacks Article
• Negative Sentiment: Analysis on Seeking Alpha highlights that DraftKings’ Q4 was strong but 2026 guidance is conservative and growth appears to be slowing — a near-term headwind for multiples and investor sentiment. Seeking Alpha
• Negative Sentiment: Short-form cautions (e.g., BayStreet piece “Beware of Pinterest and DraftKings”) add to the skeptical narrative among some retail/commentary channels, which can pressure sentiment even without new fundamental news. BayStreet

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.