DraftKings’ (DKNG) “Market Outperform” Rating Reiterated at Citizens Jmp

Citizens Jmp reissued their market outperform rating on shares of DraftKings (NASDAQ:DKNG) in a research note released on Tuesday,Benzinga reports. The firm currently has a $38.00 price target on the stock.

Other analysts have also issued reports about the stock. Canaccord Genuity Group reduced their price objective on shares of DraftKings from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Rothschild & Co Redburn set a $35.00 target price on DraftKings in a research note on Friday, January 30th. Oppenheimer reduced their price target on DraftKings from $50.00 to $35.00 and set an “outperform” rating on the stock in a report on Tuesday, February 17th. Northland Securities set a $24.00 price target on DraftKings in a research note on Tuesday, February 17th. Finally, BTIG Research set a $35.00 price target on shares of DraftKings in a report on Tuesday. Twenty-five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.19.

DraftKings Stock Up 0.1%

NASDAQ DKNG opened at $25.46 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.91. DraftKings has a 52 week low of $21.01 and a 52 week high of $48.78. The firm has a market capitalization of $12.55 billion, a price-to-earnings ratio of -636.50, a PEG ratio of 1.05 and a beta of 1.67. The company has a fifty day moving average of $29.01 and a two-hundred day moving average of $34.21.

Insider Activity at DraftKings

In related news, insider R Stanton Dodge sold 52,777 shares of DraftKings 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 transaction, 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. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Harry Sloan acquired 100,000 shares of DraftKings stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average cost of $21.85 per share, with a total value of $2,185,000.00. Following the purchase, the director directly owned 350,219 shares of the company’s stock, valued at $7,652,285.15. This represents a 39.96% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 62,928 shares of company stock worth $1,923,728 over the last three months. 51.19% of the stock is owned by corporate insiders.

Institutional Trading of DraftKings

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC lifted its stake in shares of DraftKings by 5.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 9,460 shares of the company’s stock worth $314,000 after purchasing an additional 524 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of DraftKings by 1,141.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,044 shares of the company’s stock worth $1,463,000 after buying an additional 40,495 shares during the last quarter. Empowered Funds LLC raised its stake in shares of DraftKings by 18.0% during the 1st quarter. Empowered Funds LLC now owns 9,115 shares of the company’s stock worth $303,000 after acquiring an additional 1,391 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of DraftKings during the 2nd quarter worth approximately $603,000. Finally, Envestnet Asset Management Inc. lifted its position in DraftKings by 24.4% during the second quarter. Envestnet Asset Management Inc. now owns 569,347 shares of the company’s stock valued at $24,419,000 after acquiring an additional 111,826 shares during the last quarter. Institutional investors own 37.70% of the company’s stock.

More DraftKings News

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Company unveiled a consolidated “DraftKings Sports & Casino” Super App to combine sportsbook, predictions, casino and lottery into one account/wallet — the market sees this as a revenue‑per‑user and cross‑sell catalyst that can boost engagement and lifetime value. DraftKings Super App
• Positive Sentiment: Analyst support has been strengthening: BMO (reported coverage) expects upside and other firms (Goldman Sachs, Susquehanna) issued buy ratings — analyst upgrades and higher price targets add near‑term buying pressure and validate the new strategy. BMO coverage
• Positive Sentiment: Insider accumulation: a director reportedly bought 100,000 shares — large insider purchases typically signal confidence from insiders and can support the stock. Insider buying story
• Positive Sentiment: Product expansion into prediction markets is getting press and analyst attention — WSJ and Zacks highlight DraftKings’ plans to use its sports‑betting tech to scale prediction markets, a higher‑margin potential growth lane. WSJ prediction markets Zacks prediction markets
• Neutral Sentiment: Investor Day materials and prepared remarks were published — useful for modeling long‑term revenue mix and margins but not an immediate revenue catalyst. Investor Day transcript
• Neutral Sentiment: CEO set ethical boundaries (no bets on geopolitical death/war) — reputationally positive but unlikely to move near‑term top line. CEO ethical stance
• Neutral Sentiment: Short‑interest feeds show a large/odd change that appears to be a reporting artifact (zeroed out) — not a reliable signal as published.
• Negative Sentiment: Company CAO Erik Bradbury sold 2,883 shares (~$70.8k) on March 3 (SEC Form 4) — a small insider sale that some investors interpret as a modest negative signal even though the size is limited. SEC Form 4

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.