DraftKings (NASDAQ:DKNG) Price Target Cut to $35.00 by Analysts at Oppenheimer

DraftKings (NASDAQ:DKNG) had its price target reduced by Oppenheimer from $50.00 to $35.00 in a research report released on Tuesday, MarketBeat Ratings reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently commented on DKNG. BTIG Research reduced their target price on shares of DraftKings from $45.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of DraftKings in a research report on Wednesday, January 21st. Needham & Company LLC reduced their price target on shares of DraftKings from $52.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday. Susquehanna set a $44.00 target price on DraftKings in a research note on Tuesday, January 27th. Finally, Barclays cut their price objective on DraftKings from $44.00 to $37.00 and set an “overweight” rating on the stock in a research report on Tuesday. Twenty-four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.89.

DraftKings Price Performance

DKNG stock opened at $22.59 on Tuesday. DraftKings has a 1 year low of $21.01 and a 1 year high of $53.50. 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. The business has a 50 day simple moving average of $31.69 and a 200-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.

Insider Transactions at DraftKings

In other DraftKings news, insider R Stanton Dodge sold 52,777 shares of the company’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 transaction, the insider directly owned 500,000 shares in the company, valued at approximately $16,005,000. This represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 47.08% of the company’s stock.

Hedge Funds Weigh In On DraftKings

A number of institutional investors have recently made changes to their positions in DKNG. Dagco Inc. acquired a new stake in shares of DraftKings during the 4th quarter worth $26,000. Ameriflex Group Inc. boosted its holdings in DraftKings by 100.0% in the third quarter. Ameriflex Group Inc. now owns 810 shares of the company’s stock valued at $30,000 after purchasing an additional 405 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of DraftKings during the third quarter worth approximately $33,000. Asset Dedication LLC bought a new stake in shares of DraftKings in the 3rd quarter worth about $37,000. Finally, Montag A & Associates Inc. raised its stake in DraftKings by 82.5% during the fourth quarter. Montag A & Associates Inc. now owns 1,106 shares of the company’s stock valued at $38,000 after buying an additional 500 shares in the last quarter. 37.70% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about 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.