DraftKings (NASDAQ:DKNG) Given New $35.00 Price Target at Needham & Company LLC

DraftKings (NASDAQ:DKNG) had its target price cut by Needham & Company LLC from $52.00 to $35.00 in a report released on Tuesday morning, MarketBeat Ratings reports. They currently have a buy rating on the stock.

DKNG has been the topic of several other reports. Macquarie Infrastructure dropped 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. Mizuho dropped their price target on shares of DraftKings from $54.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, November 13th. JPMorgan Chase & Co. reduced their price objective on shares of DraftKings from $51.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of DraftKings in a research note on Wednesday, January 21st. Finally, Barclays dropped their target price on shares of DraftKings from $54.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, November 10th. Twenty-four 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. According to MarketBeat, DraftKings presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.89.

DraftKings Stock Up 3.8%

DKNG stock opened at $22.59 on Tuesday. The firm has a market capitalization of $11.24 billion, a PE ratio of -564.75, a P/E/G ratio of 0.43 and a beta of 1.67. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 2.51. DraftKings has a twelve month low of $21.01 and a twelve month high of $53.50. The stock’s 50 day moving average is $31.69 and its 200-day moving average is $35.82.

Insider Buying and Selling at DraftKings

In other news, insider R Stanton Dodge sold 52,777 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider owned 500,000 shares in the company, valued at $16,005,000. This trade represents a 9.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 47.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DraftKings

Several institutional investors have recently bought and sold shares of DKNG. Dagco Inc. bought a new position in DraftKings during the fourth quarter valued at $26,000. Ameriflex Group Inc. lifted its position in shares of DraftKings by 100.0% during 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 during the last quarter. Root Financial Partners LLC bought a new position in shares of DraftKings during the 3rd quarter worth $33,000. Asset Dedication LLC bought a new position in shares of DraftKings during the 3rd quarter worth $37,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in DraftKings in the 2nd quarter worth about $45,000. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Key DraftKings News

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.