Truist Financial Has Lowered Expectations for DraftKings (NASDAQ:DKNG) Stock Price

DraftKings (NASDAQ:DKNG) had its price objective decreased by equities researchers at Truist Financial from $45.00 to $33.00 in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 42.18% from the company’s current price.

Several other equities analysts have also weighed in on DKNG. Jefferies Financial Group reiterated a “buy” rating on shares of DraftKings in a report on Sunday. JPMorgan Chase & Co. dropped their price target on DraftKings from $51.00 to $42.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. Oppenheimer reduced their price objective on DraftKings from $50.00 to $35.00 and set an “outperform” rating for the company in a research note on Tuesday. BMO Capital Markets reaffirmed an “outperform” rating and set a $42.00 target price on shares of DraftKings in a research report on Friday, February 13th. Finally, BTIG Research cut their target price on DraftKings from $45.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Twenty-four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, DraftKings currently has a consensus rating of “Moderate Buy” and an average target price of $37.89.

DraftKings Stock Performance

NASDAQ:DKNG opened at $23.21 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.03 and a debt-to-equity ratio of 2.91. DraftKings has a twelve month low of $21.01 and a twelve month high of $51.15. The company has a fifty day moving average of $31.47 and a 200-day moving average of $35.73. The firm has a market capitalization of $11.44 billion, a P/E ratio of -580.25, a P/E/G ratio of 0.45 and a beta of 1.67.

Insider Buying and Selling at DraftKings

In other news, Director Harry Sloan acquired 100,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were purchased at an average cost of $21.85 per share, with a total value of $2,185,000.00. Following the acquisition, the director directly owned 350,219 shares of the company’s stock, valued at $7,652,285.15. The trade was a 39.96% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider R Stanton Dodge sold 52,777 shares of the company’s stock in a transaction on Tuesday, January 20th. The stock was 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 of the company’s stock, valued at approximately $16,005,000. The trade was a 9.55% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 51.19% of the company’s stock.

Hedge Funds Weigh In On DraftKings

Institutional investors have recently modified their holdings of the business. Viking Global Investors LP bought a new stake in DraftKings during the third quarter worth $561,125,000. Capital World Investors increased its position in shares of DraftKings by 181.4% during the 4th quarter. Capital World Investors now owns 18,626,429 shares of the company’s stock valued at $641,867,000 after purchasing an additional 12,008,357 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of DraftKings by 50.8% during the 4th 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 last quarter. Norges Bank bought a new stake in shares of DraftKings during the 2nd quarter worth $362,554,000. Finally, AQR Capital Management LLC boosted its holdings 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 worth $567,694,000 after buying an additional 4,788,337 shares during the last quarter. 37.70% of the stock is owned by institutional investors.

DraftKings News Roundup

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

DraftKings Company Profile

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.