DraftKings (NASDAQ:DKNG) Receives Market Outperform Rating from Citizens Jmp

Citizens Jmp restated their market outperform rating on shares of DraftKings (NASDAQ:DKNG) in a research report report published on Tuesday morning,Benzinga reports. Citizens Jmp currently has a $38.00 target price on the stock.

Other analysts also recently issued research reports about the company. Oppenheimer dropped their price target on DraftKings from $50.00 to $35.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. BMO Capital Markets reiterated an “outperform” rating and set a $42.00 price objective on shares of DraftKings in a report on Friday, February 13th. Citigroup restated a “market outperform” rating on shares of DraftKings in a research note on Tuesday, February 24th. Zacks Research downgraded DraftKings from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. Finally, Truist Financial decreased their price target on shares of DraftKings from $45.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Twenty-five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.12.

DraftKings Stock Up 2.6%

DraftKings stock opened at $24.45 on Tuesday. The company has a 50 day moving average of $29.37 and a 200-day moving average of $34.34. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.91. DraftKings has a twelve month low of $21.01 and a twelve month high of $48.78. The stock has a market capitalization of $12.05 billion, a PE ratio of -611.25, a price-to-earnings-growth ratio of 0.98 and a beta of 1.67.

Insider Buying and Selling

In other news, Director Harry Sloan purchased 100,000 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were purchased at an average cost of $21.85 per share, with a total value of $2,185,000.00. Following the completion of the transaction, the director owned 350,219 shares of the company’s stock, valued at $7,652,285.15. The trade was a 39.96% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Erik Bradbury sold 7,268 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $22.50, for a total transaction of $163,530.00. Following the completion of the sale, the chief accounting officer owned 36,736 shares of the company’s stock, valued at approximately $826,560. This represents a 16.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 62,928 shares of company stock worth $1,923,728. Insiders own 47.08% of the company’s stock.

Hedge Funds Weigh In On DraftKings

A number of hedge funds and other institutional investors have recently bought and sold shares of DKNG. Nordea Investment Management AB raised its holdings in DraftKings by 1,996.2% in the 3rd quarter. Nordea Investment Management AB now owns 421,127 shares of the company’s stock valued at $16,205,000 after acquiring an additional 401,037 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of DraftKings by 1.1% during the third 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 during the period. Helios Capital Management PTE. Ltd. increased its stake in shares of DraftKings by 926.0% during the second quarter. Helios Capital Management PTE. Ltd. now owns 114,000 shares of the company’s stock worth $4,889,000 after purchasing an additional 102,889 shares during the period. Claro Advisors LLC lifted its holdings in DraftKings by 121.4% during the 2nd quarter. Claro Advisors LLC now owns 39,915 shares of the company’s stock worth $1,712,000 after purchasing an additional 21,890 shares during the last quarter. Finally, Swiss National Bank boosted its stake in DraftKings by 10.0% in the 2nd quarter. Swiss National Bank now owns 1,361,964 shares of the company’s stock valued at $58,415,000 after purchasing an additional 124,200 shares during the period. Institutional investors own 37.70% of the company’s stock.

More DraftKings News

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: BMO Capital Markets raised its price target to $50 and assigned an “outperform” rating, signaling outsized upside vs. the current price and lending credibility to the growth story. BMO Raise
• Positive Sentiment: Citizens Jmp reaffirmed a “market outperform” rating with a $38 price target, another analyst endorsement supporting the rally. Citizens Jmp Rating
• Positive Sentiment: DraftKings unveiled a unified “DraftKings Sports & Casino” Super App that integrates sportsbook, predictions, casino and lottery into one wallet and account and signals a material push into prediction markets and expanded AI — a strategic pivot investors view as expanding monetization and engagement opportunities. Super App Unveil
• Neutral Sentiment: Market commentary notes DraftKings is outperforming a weak market today as analysts roll in upgrades and note the company’s new strategy; useful context but more evidence needed to confirm sustained earnings impact. Market Commentary
• Neutral Sentiment: DraftKings published Analyst/Investor Day materials (prepared remarks and slideshow) that flesh out the roadmap for product integration and growth; these decks provide detail but investors will watch execution and metrics. Investor Day Transcript Slides
• Neutral Sentiment: Short-interest data in the filings appears anomalous (reports show 0 shares / NaN increases and 0 days-to-cover), so there’s no clear signal from shorting activity at this time; treat these figures with caution.
• Negative Sentiment: Company CAO Erik Bradbury sold 2,883 shares (~$70.8K) and reduced his stake by ~7% — an insider sale that can be read negatively by some investors, though it may be routine or for personal liquidity. SEC Filing

DraftKings Company Profile

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.