DraftKings (NASDAQ:DKNG) Price Target Lowered to $32.00 at Citigroup

DraftKings (NASDAQ:DKNG) had its target price reduced by Citigroup from $48.00 to $32.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently weighed in on DKNG. Macquarie Infrastructure reduced their price target on DraftKings from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, November 10th. JPMorgan Chase & Co. reduced their target price on shares of DraftKings from $51.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday, November 10th. Susquehanna set a $33.00 price objective on shares of DraftKings in a research note on Tuesday. Truist Financial cut their price objective on shares of DraftKings from $45.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of DraftKings in a report on Wednesday, January 21st. Twenty-four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.89.

DraftKings Stock Performance

Shares of DKNG opened at $22.59 on Tuesday. The company has a 50-day simple moving average of $31.69 and a two-hundred day simple moving average of $35.82. The company has a debt-to-equity ratio of 2.51, a current ratio of 1.10 and a quick ratio of 1.09. The firm has a market capitalization of $11.24 billion, a PE ratio of -564.75, a price-to-earnings-growth ratio of 0.43 and a beta of 1.67. DraftKings has a one year low of $21.01 and a one year high of $53.50.

Insider Buying and Selling

In other news, insider R Stanton Dodge sold 52,777 shares of the business’s stock in a transaction on 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 transaction, the insider owned 500,000 shares in the company, valued at $16,005,000. The trade was a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 47.08% of the company’s stock.

Institutional Trading of DraftKings

Large investors have recently made changes to their positions in the stock. Dagco Inc. purchased a new stake in DraftKings in the fourth quarter worth approximately $26,000. 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 worth $30,000 after acquiring an additional 405 shares during the period. Root Financial Partners LLC bought a new position in DraftKings in the third quarter valued at about $33,000. Asset Dedication LLC purchased a new position in DraftKings in the third quarter worth about $37,000. Finally, Montag A & Associates Inc. grew its stake in shares of DraftKings by 82.5% during the 4th quarter. Montag A & Associates Inc. now owns 1,106 shares of the company’s stock valued at $38,000 after purchasing an additional 500 shares during the period. 37.70% of the stock is currently owned by institutional investors.

Key Headlines 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.