DraftKings (NASDAQ:DKNG) Receives “Buy” Rating from BTIG Research

BTIG Research restated their buy rating on shares of DraftKings (NASDAQ:DKNG) in a research report report published on Monday,Benzinga reports. The firm currently has a $35.00 price target on the stock.

DKNG has been the topic of a number of other reports. BMO Capital Markets lifted their price target on DraftKings from $42.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, March 3rd. Citizens Jmp reaffirmed a “market outperform” rating and set a $38.00 price objective on shares of DraftKings in a research report on Tuesday, March 3rd. Wells Fargo & Company restated an “overweight” rating on shares of DraftKings in a report on Tuesday, March 3rd. The Goldman Sachs Group cut their price objective on shares of DraftKings from $54.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Finally, Canaccord Genuity Group reduced their price objective on shares of DraftKings from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Twenty-five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, DraftKings currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.09.

DraftKings Price Performance

NASDAQ DKNG opened at $24.00 on Monday. The firm’s 50 day moving average price is $26.61 and its 200-day moving average price is $32.17. The company has a debt-to-equity ratio of 2.91, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $11.83 billion, a PE ratio of -599.88, a P/E/G ratio of 0.95 and a beta of 1.67. DraftKings has a 52-week low of $21.01 and a 52-week high of $48.78.

Insider Transactions at DraftKings

In other news, CAO Erik Bradbury sold 7,268 shares of the business’s 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 sale, the chief accounting officer directly owned 36,736 shares of the company’s stock, valued at $826,560. The trade was a 16.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry Sloan bought 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was purchased at an average cost of $21.85 per share, for a total transaction of $2,185,000.00. Following the completion of the transaction, the director owned 350,219 shares in the company, valued at $7,652,285.15. This trade represents a 39.96% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 549,495 shares of company stock worth $14,166,700 over the last ninety days. 47.08% of the stock is currently owned by insiders.

Institutional Trading of DraftKings

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC increased its holdings in DraftKings by 5.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 9,460 shares of the company’s stock worth $314,000 after buying an additional 524 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in DraftKings by 1,141.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,044 shares of the company’s stock valued at $1,463,000 after acquiring an additional 40,495 shares during the period. Empowered Funds LLC boosted its holdings in shares of DraftKings by 18.0% in the 1st quarter. Empowered Funds LLC now owns 9,115 shares of the company’s stock valued at $303,000 after acquiring an additional 1,391 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of DraftKings in the 2nd quarter valued at $603,000. Finally, Prudential PLC acquired a new stake in shares of DraftKings in the second quarter worth $600,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Key Headlines Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: The introduction of a bipartisan Senate bill to ban sports wagers on prediction-market platforms is the primary catalyst lifting DraftKings: investors view the measure as removing an unregulated, low-cost competitor and creating a regulatory moat for licensed sportsbooks. This legislative news prompted heavy buying and call-option activity. DraftKings, Flutter shares surge as bill targets prediction market sports bets
• Positive Sentiment: Analyst support: BTIG reiterated a “buy” rating with a $35 price target, reinforcing upside expectations tied to improved competitive dynamics and longer-term margin recovery. BTIG reaffirms buy
• Neutral Sentiment: Investor reaction & technicals: The rally is accompanied by above-average volume and options skew toward calls, signaling short-term bullish positioning; technical levels (short-term moving averages) are being watched for follow-through. MarketBeat DKNG page
• Neutral Sentiment: Competition & regulatory focus: Independent reporting highlights continued pressure from prediction-market platforms (Kalshi, Polymarket) that prompted the new legislation — long-term competitive dynamics still matter for customer acquisition costs and margins. DraftKings faces growing pressure as prediction markets reshape betting outlook
• Neutral Sentiment: Analyst downgrade note: Argus recently downgraded DraftKings to Hold citing rising customer-acquisition costs and competitive pressure — a reminder that fundamentals still need to improve to justify valuations. InsiderMonkey on Argus downgrade
• Neutral Sentiment: Short-interest data in feeds looks inconsistent (reported as zero) and should not be relied on for positioning until clarified by official filings.
• Negative Sentiment: NCAA lawsuit over use of “March Madness” trademarks creates a legal/marketing headwind just as tournament-related betting activity peaks; potential settlement costs, branding limits or injunctions could dent near-term promo effectiveness. NCAA sues to block DraftKings from using March Madness trademarks

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.