DraftKings (NASDAQ:DKNG) Given New $30.00 Price Target at Canaccord Genuity Group

DraftKings (NASDAQ:DKNG) had its price target lowered by Canaccord Genuity Group from $40.00 to $30.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group‘s price objective would indicate a potential upside of 61.42% from the stock’s previous close.

A number of other brokerages have also weighed in on DKNG. Truist Financial cut their price target on shares of DraftKings from $26.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday. JPMorgan Chase & Co. downgraded shares of DraftKings from an “overweight” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research report on Monday. TD Cowen dropped their price objective on shares of DraftKings from $35.00 to $25.00 and set a “buy” rating on the stock in a report on Monday. Wolfe Research started coverage on shares of DraftKings in a research report on Wednesday, September 2nd. They issued an “outperform” rating and a $40.00 price objective on the stock. Finally, Susquehanna reaffirmed a “positive” rating and issued a $23.00 price objective on shares of DraftKings in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $28.98.

DraftKings Stock Up 0.4%

Shares of NASDAQ:DKNG traded up $0.07 during trading on Monday, hitting $18.59. 12,439,524 shares of the company’s stock traded hands, compared to its average volume of 13,772,149. DraftKings has a 52 week low of $16.55 and a 52 week high of $36.98. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.22. The company has a market cap of $9.23 billion, a price-to-earnings ratio of -23.17, a price-to-earnings-growth ratio of 2.43 and a beta of 1.65. The company has a 50-day moving average price of $21.51 and a 200-day moving average price of $24.06.

DraftKings (NASDAQ:DKNG) last posted its earnings results on Thursday, November 5th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.12). DraftKings had a negative return on equity of 36.21% and a negative net margin of 5.91%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the previous year, the company posted ($0.26) earnings per share. DraftKings’s revenue for the quarter was up 16.2% compared to the same quarter last year. As a group, research analysts forecast that DraftKings will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling

In other DraftKings news, Director Jocelyn Moore sold 10,759 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $24.05, for a total value of $258,753.95. Following the sale, the director owned 1,881 shares in the company, valued at approximately $45,238.05. The trade was a 85.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 47.18% of the company’s stock.

Hedge Funds Weigh In On DraftKings

Several hedge funds have recently made changes to their positions in DKNG. Ascentis Independent Advisors acquired a new position in DraftKings during the first quarter worth $27,000. Basecamp Wealth Advisors LLC grew its position in DraftKings by 3,547.1% in the first quarter. Basecamp Wealth Advisors LLC now owns 1,240 shares of the company’s stock valued at $27,000 after purchasing an additional 1,206 shares in the last quarter. CoreCap Advisors LLC grew its position in DraftKings by 336.5% in the second quarter. CoreCap Advisors LLC now owns 1,148 shares of the company’s stock valued at $29,000 after purchasing an additional 885 shares in the last quarter. Heritage Family Offices LLP acquired a new stake in DraftKings in the 3rd quarter valued at $44,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in DraftKings in the 3rd quarter valued at $48,000. 37.70% of the stock is owned by institutional investors.

More DraftKings News

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: DraftKings’ sportsbook net revenue grew 36% year over year in Q3, a bright spot amid the broader earnings disappointment. DraftKings: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Texas betting prospects could offer longer-term upside, but prediction markets are drawing scrutiny, leaving the regulatory and competitive outlook uncertain. DraftKings Sees Texas Betting Hopes Rise As Prediction Markets Draw Scrutiny
• Negative Sentiment: Q3 revenue of $1.33 billion missed expectations, and the company cut its 2026 outlook as prediction-market investment is expected to reach $650 million–$700 million. This has raised concerns about spending and earnings. Q3 Earnings Call Highlights
• Negative Sentiment: JPMorgan cut its rating from Overweight to Neutral, while several firms—including TD Cowen, Barclays, Truist, Bernstein, and BTIG—lowered price targets. Many kept Buy or equivalent ratings, but the broad reassessment underscores weaker confidence after the results. DraftKings Just Became a Show-Me Stock

About DraftKings

DraftKings Inc is a digital sports and entertainment company founded in 2012. It began as a daily fantasy sports platform and has since expanded into online sports betting and gaming.

The company offers daily fantasy contests, a sportsbook and online casino products, including games such as slots and table games. Its services are available in a range of U.S. jurisdictions and in Ontario, Canada, where permitted by local regulations.

DraftKings is headquartered in Boston, Massachusetts.