Truist Financial Cuts DraftKings (NASDAQ:DKNG) Price Target to $33.00

Posted by Patrick Bannon on Feb 20th, 2026

DraftKings (NASDAQ:DKNG – Free Report) had its target price decreased by Truist Financial from $45.00 to $33.00 in a research report sent to investors on Tuesday, Marketbeat reports. Truist Financial currently has a buy rating on the stock.

A number of other research analysts have also recently commented on DKNG. Sanford C. Bernstein set a $28.00 price target on shares of DraftKings in a research note on Monday. Morgan Stanley boosted their price target on DraftKings from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Wells Fargo & Company set a $30.00 price objective on DraftKings in a research note on Monday. Texas Capital upgraded shares of DraftKings to a “hold” rating in a research note on Thursday, January 8th. Finally, Macquarie Infrastructure dropped their target price on shares of DraftKings from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, November 10th. Twenty-four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.89.

View Our Latest Report on DKNG

DraftKings Trading Down 3.1%

Shares of DraftKings stock opened at $22.49 on Tuesday. DraftKings has a 52-week low of $21.01 and a 52-week high of $50.50. The firm has a market capitalization of $11.09 billion, a PE ratio of -562.25, a price-to-earnings-growth ratio of 0.46 and a beta of 1.67. 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 company’s fifty day moving average price is $31.22 and its two-hundred day moving average price is $35.64.

Insider Activity

In other news, Director Harry Sloan acquired 100,000 shares of the 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 directly 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 document filed with the SEC, which is available at this hyperlink. Also, insider R Stanton Dodge sold 52,777 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 500,000 shares of the company’s stock, valued at $16,005,000. This represents a 9.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 51.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On DraftKings

Several large investors have recently bought and sold shares of DKNG. Nordea Investment Management AB increased its stake in shares of DraftKings by 1,996.2% during the third quarter. Nordea Investment Management AB now owns 421,127 shares of the company’s stock worth $16,205,000 after purchasing an additional 401,037 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in DraftKings by 1.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,473,099 shares of the company’s stock valued at $279,494,000 after buying an additional 79,152 shares in the last quarter. Helios Capital Management PTE. Ltd. increased its position in DraftKings by 926.0% during the 2nd quarter. Helios Capital Management PTE. Ltd. now owns 114,000 shares of the company’s stock worth $4,889,000 after buying an additional 102,889 shares during the period. Claro Advisors LLC increased its position in DraftKings by 121.4% during the 2nd quarter. Claro Advisors LLC now owns 39,915 shares of the company’s stock worth $1,712,000 after buying an additional 21,890 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of DraftKings by 10.0% during the second quarter. Swiss National Bank now owns 1,361,964 shares of the company’s stock worth $58,415,000 after buying an additional 124,200 shares in the last quarter. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

Positive Sentiment: Director Harry Sloan bought 100,000 shares at about $21.85, increasing his stake ~40% — a material insider purchase that can signal management confidence and support demand under the stock. Harry Sloan Acquires 100,000 Shares of DraftKings (NASDAQ:DKNG) Stock
Positive Sentiment: Barclays reiterated a Buy, offering institutional validation that may attract buyers despite mixed Street sentiment. DraftKings (DKNG) Gets a Buy from Barclays
Neutral Sentiment: DraftKings and FanDuel are weighing a launch in Arkansas; entry could add growth but the state’s strict revenue‑sharing model may limit near‑term margin/earnings impact. FanDuel and DraftKings eye Arkansas sports betting launch despite strict revenue-sharing model
Negative Sentiment: Multiple brokers cut price targets after Q4 2025 results and a reduced FY2026 revenue outlook — Needham cut its PT to $35 (from $52), JPMorgan to $32, Oppenheimer to $35, Mizuho to $44 and others issued lower targets or more cautious commentary. These cuts lower near‑term upside expectations and are the main driver of today’s weakness. Needham Lowers DraftKings (DKNG) PT to $35 Following Earnings Miss, Reduced Revenue Outlook
Negative Sentiment: Broader Street skepticism (Goldman, Citi, Truist flagged downside/pessimism) and negative commentary pieces are pressuring retail sentiment and may amplify selling into the weaker technicals (stock near its 52‑week low and below 50/200‑day averages). The Goldman Sachs Group Issues Pessimistic Forecast for DraftKings (NASDAQ:DKNG) Stock Price

About DraftKings

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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.