JPMorgan Chase & Co. Lowers DraftKings (NASDAQ:DKNG) Price Target to $32.00

DraftKings (NASDAQ:DKNG) had its target price cut by investment analysts at JPMorgan Chase & Co. from $41.00 to $32.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 37.87% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC dropped their target price on DraftKings from $52.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday. Macquarie Infrastructure dropped their price objective on DraftKings from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. The Goldman Sachs Group reduced their target price on DraftKings from $54.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday. Texas Capital raised shares of DraftKings to a “hold” rating in a research note on Thursday, January 8th. Finally, Benchmark cut their price target on shares of DraftKings from $37.00 to $29.00 and set a “buy” rating for the company in a report on Friday, February 13th. Twenty-four equities research 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.89.

DraftKings Price Performance

Shares of NASDAQ DKNG opened at $23.21 on Tuesday. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.03 and a quick ratio of 1.09. The firm’s 50 day simple moving average is $31.47 and its 200-day simple moving average is $35.73. DraftKings has a 12 month low of $21.01 and a 12 month high of $51.15. The stock has a market capitalization of $11.44 billion, a price-to-earnings ratio of -580.25, a PEG ratio of 0.45 and a beta of 1.67.

Insider Activity

In related news, Director Harry Sloan purchased 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was purchased at an average price of $21.85 per share, with a total value of $2,185,000.00. Following the completion of the acquisition, 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 purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider R Stanton Dodge sold 52,777 shares of the firm’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 sale, the insider directly owned 500,000 shares of the company’s stock, valued at $16,005,000. This trade represents a 9.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 51.19% of the stock is currently owned by corporate insiders.

Institutional Trading of DraftKings

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Viking Global Investors LP purchased a new stake in DraftKings during the 3rd quarter worth approximately $561,125,000. Capital World Investors increased its position in shares of DraftKings by 181.4% during the fourth quarter. Capital World Investors now owns 18,626,429 shares of the company’s stock worth $641,867,000 after acquiring an additional 12,008,357 shares during the period. Janus Henderson Group PLC boosted its holdings in DraftKings by 50.8% in the fourth quarter. Janus Henderson Group PLC now owns 25,313,909 shares of the company’s stock valued at $858,893,000 after purchasing an additional 8,524,923 shares during the period. Norges Bank acquired a new stake in DraftKings in the 2nd quarter valued at about $362,554,000. Finally, AQR Capital Management LLC boosted its stake in shares of DraftKings by 41.0% in the 4th quarter. AQR Capital Management LLC now owns 16,474,009 shares of the company’s stock valued at $567,694,000 after buying an additional 4,788,337 shares during the period. Institutional investors and hedge funds own 37.70% of the company’s stock.

Key Stories Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Barclays put a “buy” on DraftKings, providing an institutional validation that likely supported the rally. DraftKings (DKNG) Gets a Buy from Barclays
• Positive Sentiment: Director Harry Sloan bought 100,000 shares (~$2.185M) and increased his stake by ~40% — a strong insider signal that can boost investor confidence. SEC Filing
• Positive Sentiment: Meridian Hedged Equity Fund (ArrowMark Partners) reiterated confidence in DraftKings’ earnings outlook, signaling institutional support for the company’s fundamentals. Meridian Hedged Equity Fund Remains Confident
• Positive Sentiment: Market commentary flagged DraftKings as “discounted” by some Street participants, which can attract value‑seeking buyers given the company’s upside in many analyst models. Wall Street Flags Discounted DraftKings Stock
• Neutral Sentiment: An analyst roundup notes mixed opinions on consumer‑cyclical names including DraftKings — reflects divergent views across firms and explains volatility as investors weigh conflicting signals. Analysts’ Opinions Are Mixed
• Negative Sentiment: Multiple major brokers (Goldman, JPMorgan, Citi, Truist, Oppenheimer, Needham, Mizuho and others) cut price targets — in many cases significantly — while generally maintaining buy/overweight/outperform ratings. That lowers near‑term upside expectations and adds downward pressure even as analysts retain constructive longer‑term views. Benzinga coverage of analyst updates Truist price target cut (example)
• Negative Sentiment: A BayStreet column warns investors to “beware” of DraftKings, highlighting downside risks that could pressure sentiment among retail investors. Beware of Pinterest and DraftKings

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.